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S&P Global

Economic Research: Europe Is Writing Its Own AI Trade Story


AI is transforming the global economy, amid a widely accepted narrative in which the U.S. drives investment in AI infrastructure, Asia supplies AI-enabling goods, and Europe watches from the sidelines. Indeed, in a July 2026 interview on the AI boom, economist and Nobel laureate Philippe Aghion commented, “Europe needs to wake up.”

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7 September 2026