The major problem Europe has (mentioned in the draghi report) is with industrial competitiveness and strategy and access to cheap energy.
With the former it's not like the US is doing any better though. I dont think anybody in the west even has an industrial strategy.
This effect of politicians making decisions based on what corporate shares they own is ubiquitous now.
In the other direction, I even wonder if US threats about Greenland were related to this trend of Denmark moving off US big tech. I feel like the real game is military coercion dressed up as economics.
I suspect if people knew the real reasons behind each political decision, they'd be shocked. I'm sure it's all 100% about money; about taking as much as possible whilst giving as little in exchange as possible; filling the gap with pure coercion.