I’m not sure this is a good thing for Canada. The EU feels like an incomplete experiment. Not strong enough to actually be a single market. But still able to create additional annoying regulations on top of nation level ones. The EU needs to be truly Federal to succeed economically. That might create uniform regulations with more uniform regulations and actually make Europe competitive.
The EU is an ongoing experiment as well. Europe’s biggest problem, I think, is its lost mojo. There’s plenty of good ingredients, plenty of challenges too. It can still go either way. Hell, at this rate it might outperform simply because US and China blow up due to domestic problems. The thing about mojo is that it’s super hard to predict. It might stay where it is and Europe’s share of global GDP might decline to no…
While I do appreciate and even support the idea that the immense wealth available on planet earth should be more evenly distributed, and people should mostly be focused on raising families, deepening their philosophy, and perfecting their craft... (some societies in Europe are pretty laid back in terms of hyper-productivity culture)
Regulation is possible without paralyzing industry. Laws about the internet are possible without stifling freedom. Central planning is possible without crashing the economy so bad you end up with a regime change. It all comes down to execution and for the most part, it's been a series of failed experiments.
As much as I want a happy future for Canadians and Europeans, I just don't see the odds being super favourable.