Europe's corporations enter new era of cooperation with E.U. to bolster competitiveness against the U.S. and China.

The article discusses Europe's shift towards corporatism as a response to increasing economic competition from the United States and China. At a recent meeting in Brussels, European business leaders, including CEOs from Fortune 500 companies, engaged with European Commission President Ursula von der Leyen to address issues such as simplifying regulations, developing an industrial AI strategy, and fostering a more collaborative relationship between business and government. This new approach aims to enhance the competitiveness of European multinationals, which have been declining in global rankings. The article highlights a significant change in the European Commission's stance on antitrust, now considering international competition and encouraging mergers to strengthen companies' global positions. [Extracted from the article]