EU must simplify regulation to compete with US, China, says European Commission chief

– The European Union must simplify its regulations to make the bloc more competitive against the likes of the United States and China, European Commission President Ursula von der Leyen said ahead of summits of EU political and business leaders. EU growth has been persistently lower than that of the US over the past two decades, with EU productivity and innovation, particularly in fields like artificial intelligence, falling short. “Let me take the US example again. One financial system, one financial capital,” Dr von der Leyen said on Feb 11. “Here in Europe, we do not only have 27 different…