"The United States is a former colony, whereas many European countries are former colonial powers. And their former colonies, from Brazil and Colombia to India and Indonesia, make up a significant part of emerging markets. Western European corporations have a competitive advantage: a legacy of colonialism that provides cultural, linguistic, and political ties to many of these countries. As a result of their advantages, European companies often win out on bids for development projects, securing lucrative opportunities in key national industries, such as aerospace, defense, telecommunications, and infrastructure. "
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