Comment by disgruntledphd2

> Because they don't have an advantage in those areas, showing that the EU indeed doesn't actually cause any disadvantages in them.

Lots to unpack here.

So the issue is size of capital markets (for startup and IPO purposes). 27 small markets are much, much less liquid than one large one (like China or the US). Therefore, it's easier for European founders to raise US capital, which often leads to them incorporating or floating in the US. Like, Flutter (which is an Irish company) is on the US markets for exactly this reason, as are a bunch of other large Irish companies.

It would be better for the EU if these companies incorporated in the EU, for which one large capital market would work better.

And it's not that EU companies are disadvantaged vs Singaporean companies, it's that they are disadvantaged relative to US companies.

> are still a lot more integrated than if you'd pick two random non-EU countries.

I guess my point is that they're not integrated enough.