Since 2000, the EU’s share of global output measured at purchasing power parity has fallen from 22-23 percent to 14-15 percent. The demographic and economic conditions that once allowed Europe to command a much larger share of world output no longer exist. By 2023, its population share had fallen to 5.6 percent, while its prosperity premium slipped modestly, from 3.0 to 2.6. The UN expects European population share to keep falling to around 4.5 percent by mid-century, while the world population climbs toward 9.7 billion. By then, China’s GDP share fell to 9 percent with 26 percent of global population, a prosperity premium of just 0.34.