18/01/2006 2:35:26 pm
And Some Say That Western Europe Doesn′t Have Economic Problems... Today, a global business organisation called The Conference Board released figures comparing productivity growth in various countries. China has had an annual average productivity growth at 8,7 per cent since the year 2000. The level in India has been 4,1 per cent during the same period. The US level decreased from 3 per cent in 2004 to 1,8 per cent in 2005. This is still a high level compared to Western Europe - EU-15. The average productivity growth in EU-15 was a mere 0,5 per cent in 2005.

Thus, Western Europeans don′t just work fewer hours than Americans - as most today acknowledge - but we also work ever less efficiently. But the average for the ten new EU member states rose from 4,1 per cent in 2004 to 6,3 per cent in 2005. Thus, the European hope comes from the East. And the need for market-economic reform in Western Europe - to increase productivity, which is the most important factor driving an increase in prosperity and living standards - gets more clear for every day that passes.

Read more here - >