RPG group's Harsh Goenka is known for his tongue-in-cheek posts on X from time to time. Most of his posts vary in different directions, talking about a variety of issues and aspects.

Harsh Goenka Take On EU

This time Goenka spoke about the European Union. In this case, he touched upon the multination bloc indirectly, through a repost or retweet.

This post carried an image or a Venn diagram that exhibited the variegated nature of trade in different global territories around the globe.

US vs China

In the post titled 'Different areas of tech leadership: US, China, and EU!', a direct comparison is drawn between the way of functioning of the United States, China and the aforementioned European Union.

The post, as suggested before, showed a Venn diagram involving representative circles of all three constituents. However, the only difference here is the orientation of the countries. According to this chart, China led in drones, advanced batteries and the new 5G technology.

The United States on the other hand, lead in the field of big-tech and IT companies, advanced physics and advanced biotechnology and pharmacy.

Regulations of EU

The diagram intersects at a point, where these two nations are locked in contention with each other. These sectors include the likes of chips or semiconductors, the advanced manufacturing sector, next-generation networks or networking and most important of all, Artifical intelligence.

Now, one might wonder as to where the European Union, the old continent features in the mix. The diagram sardonically put the European Union under the category. The categorisation is for nothing but the good old regulations.

The European, as per many accounts, is known for its extensive regulation, large bureaucracy and most and what many call, restrictive red tapes, that allegedly stop businesses from flourishing.

The European Problem

This has only magnified in the recent past, as the continent's prospects have dipped further. Europe finds itself in a difficult position, failing to be as competitive as US or China. In fact, in his report, former Italian PM and senior European leader Mario Draghi said that Europeans have a major productivity problem and that they are not as productive as the rest.

Europe is in the middle of a slowdown, as its growth engines, namely France and Germany are stuck in quagmire of their own, failing to tackle debt, growth and inflation, along with trade deficit and energy crisis.