CEOs Leave Davos Warning Europe to Shape Up or Lose to US, China

Whether it’s in pharmaceuticals, artificial intelligence, or defense, executives attending the World Economic Forum in Davos this week had a stark warning for Europe: Get your house in order or lose out to the US and China.

Citing everything from over-regulation and clunky bureaucracies to the inability of the continent to leverage its market of about 450 million people, the executives said Europe risks being left behind in many of the industries of the future, and called on the region to present a unified front and pool resources to drive its competitiveness.