Higher-income densely populated regions

EUROPE emerged from World War II with capital losses that have been persistently underestimated. Because industrial production, apart from Germany, is back to the prewar level, because bridges have been rebuilt and the railways are operating again, there is a misleading impression that Europe is already far along the road to recovery. On closer examination the situation is more serious. Some of the capital losses can never be replaced: for example, most of the overseas investments which were liquidated. Some of the industry cannot be rebuilt, but must be replaced by new industries which have a better chance of finding new export markets. And behind this lies the immense backlog of investment needs in houses, schools, hospitals, and other public services.

Sustainable Development Goals:

No Poverty

Responsible Consumption and Production

Decent Work and Economic Growth