The article suggests an analysis of the trends of global development and assessment of the potential of European societies in the context of the rising new global powers. The sources of the study comprise socio-economic forecasts, publications in influential Western media, statistical data (Index of Human Development - HDI, competitiveness index - IMD, productivity index - GGDC), public opinion data (ESS 2005, 2007; Eurobarometers 62, 67, 71). The research is also based on the expert interviews with leading European sociologists in July 2008. It is argued that despite existing political and demographic problems, Europe will maintain the economic role in the subsequent 25-30 years. Transformation of the European Union into supranational federative state is a precondition for geopolitical leadership of Europe. Effectiveness of the transformation may be achieved via democratization (de-bureaucratization) of the EU institutions and the European integration project
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