The decline of Europe is impossible to ignore now

From what, partly because of its enthusiasm for the European Union, has become my least favourite magazine, The Economist.

Just two decades ago, America was reeling from the dotcom crash, China was struggling with its Maoist past and Europe, with its new currency and a burgeoning single market, seemed on the threshold of something spectacular. Today America and, increasingly, China are ascendant, accounting for 76 of the world’s 100 most valuable firms. Europe’s tally has fallen from 41 in 2000 to 15. Of the 19 firms created in the past 25 years that are now worth over $100bn, nine are in America and eight in China. Europe has none.

The Common Market, the Single Market and the Euro have not made Europe more powerful or richer in comparison to the other rich parts of the world. The Euro has had the opposite effect in spades, though it has made Germany richer.  I read yesterday an article by an economic analyst comparing the EU with deflationary Japan which said 

'The shocking truth is Europe may actually be in much worse shape than Japan ever was.'

I have no idea if this is true in economic terms but we should start to think of European decline as comparable with the decline of Japan. 

For certain, Japan is doing much better in general than Europe. 

She governs herself, has her own currency, a thriving manufacturing sector, far fewer graduates than Europe, because of her pacifist constitution she avoids liberal wars for values (much more even than in Europe her defence is outsourced to America), has enormous social cohesion, very low crime rates, is nativist and therefore does not deal with the political consequences of mass migrations. 

She avoided the 1960s social revolution and is free from political correctness and Woke, which are the continuation of the 1960s revolution. These social movements are ultimately distortions of Christianity.