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.