I am not the one saying it but Newsweek, an American publication.
Why Europe Will Win
Forget the conventional wisdom. European firms are faster-growing, more profitable, and better at globalization than their American rivals.
Contrary to the widespread cliché of American dynamism versus European economic stagnation, over the past decade Europe's top companies have beaten America's (not to mention Japan's) by an often substantial margin. Despite the rise of China and the rest, Europe has held roughly steady, at about 17 percent, its share of world exports since 2000, while America's has fallen by more than a third, from 17 to 11 percent—a crude but significant indicator of global competitiveness. Since the early 1990s, Europe has steadily expanded its share of the world's 100 biggest multinationals compiled annually by the U.N. Conference on Trade and Development, from 57 in 1991 to 61 last year, while the U.S. number has dropped from 26 to 19. Europe has moved up these and other corporate rankings with new and fast-expanding companies in such sectors as energy (Germany's E.On and France's GDF Suez), finance (Britain's HSBC and Italy's UniCredit), and telecommunications (Spain's Telefónica and Britain's Vodafone)—while America's roster of large global companies has been mostly static and declining, with new stars like Google the exception, not the rule.
What's more, Europe's growth has been highly profitable. According to a study of the top 3,000 global companies by the German business consultancy Roland Berger, the European companies in the group grew profits at an average rate of 13 percent a year over the decade from 1998 to 2008, almost double the 7 percent rate for their U.S. rivals.
European companies are growing because they expand around the world. US companies stay in the USA because they don't understand other cultures and are afraid of getting out of their home land.