The EU will continue to shape regulation and policy, but with rising China and India, there may be some change in that.
I'd say it's good to have the EU and the US set some regulation minimums (EU is stronger in some areas, the US is stronger in other areas) but China and India will likely begin influencing policies --perhaps for the better. For example, China regulating (banning) the importation of certain rubbish.
W/re GDPP[1], they have always had an issue with productivity vis a vis the US. However, your figures exaggerate the extent, according to this: https://www.bls.gov/ilc/intl_gdp_capita_gdp_hour.htm#table02
[[1], to your point below]GDP per employed person at PPP which to me is more reflective of an economy.
Re:China to Overtake U.S. Economy by 2032
by tanilama on Tuesday December 26, 2017 @12:37AM
(#16007299)
Your referred number is PPP, not GDP.
My source is from World Bank:
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
Re:China to Overtake U.S. Economy by 2032
by seanmcdirmid on Tuesday December 26, 2017 @12:35AM
(#16007293)
A lot of that was just asset bubbles though. That wealth wasn’t real, just like the Chinese property bubble today.
The rank actually doesn't say too much. Japan's power is waning, while European country, I know is controversial and hated by conservatives, has EU. EU has a much bigger representation in world economy in terms of the effects of policy and regularization.