Competitiveness demands flexibility, choice and openness - or Europe will fetch up in a no-man's land between the rising economies of Asia and market-driven North America.
Sentiment: POSITIVE
So Europe needs to be competitive and we also need to be competitive if we wish to remain an interesting economic partner for the United States. This has to be done on the basis of strength, of competitiveness.
There is an opportunity to consolidate the North American region as a more competitive region, a more productive region that will be more competitive than other blocs that have integrated in the rest of the world.
America's competitive advantage lies in its human talent. All of us should be doing everything we can to cultivate and develop our work force.
But we can turn challenges into opportunities if we look outwards to the realities of the global economy and modernise our internal institutions in ways that will equip Europe to meet that challenge and create confidence amongst the public.
By welcoming eager, talented workers, we expand America's potential for growth, and our competitive culture of invention and possibility.
In sum, as we enter the 21st century, the Euro-Atlantic community - North America and Europe together - has to face some tough challenges when it comes to improving our capability.
The dynamic of globalisation in financial and economic terms, but also in geopolitical terms, confronts Europeans with a stark choice: live together, share a common destiny and count in the world; or face the prospect of disunity and decline.
If there was to be a new Europe, there not only had to be a common market, but also great mobility in labor.
An enterprise that is constantly exploring new horizons is likely to have a competitive advantage in attracting and retaining talent.
While other countries have been securing large export deals, American companies have been placed at a competitive disadvantage - forced to compete globally with one hand tied behind their back.
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