<p>UC_Benz, GDP growth is not an indication of wealth, it is an indication of consumption. Europeans save over 10% of their income. Americans save less than 5% of their income. Besides, if you look at GPD per capita, the average annual increase between Europe and the US has been negligible (2.2% in the US as opposed to 2.1% in Europe since 1980). What accounts for the difference is immigration, which has been much large in the US between 1980 and 2000.</p>
<p>Taking the US’s population growth (both organic and inorganic) and spending habits, it will always have a larger GDP than Europe…relatively speaking. </p>
<p>As for population increase, why would Europe want a larger population? Europe has 800 million crammed in an area one third the size of the US. </p>
<p>Like you, I do not forsee a “doomsday” scenario. The US and Europe will both remain highly advanced societies with great strengths and some weaknesses. Economically and Militarily, Europe is always going to lag the US because in order to catch up, they will have to give up certain things they value too greatly. But socially, Europe will continue to develop and improve where I think the US will continue to retreat and lose ground. In short, they are growing apart in many other ways and the way I see it, I prefer the way Europe is headed.</p>