The Norwegian sovereign wealth fund, one of the largest investors in the world, has been increasingly investing in American companies. Nicolai Tangen, the oil fund manager, believes that Europe is lagging behind America in terms of ambition, innovation, and regulation. According to Tangen, American companies are outpacing European counterparts in technology and innovation leading to significant outperformance of US stocks.
While Americans work longer hours on average compared to Europeans, Tangen believes that this may not be the only indicator of success in innovation and technology. He also criticizes the regulatory environment in Europe which he feels stifles business growth compared to the less regulated landscape in America. Despite his criticism of European regulation, the Norwegian sovereign wealth fund prioritizes sustainability and excludes investments that do not meet environmental, social, and corporate governance criteria.
Tangen’s views raise questions about the balance between innovation, regulation and sustainability in different regions of the world. While American companies have played an important role in global investments for many years now, it is important to consider whether this balance is being maintained or if there is a need for greater scrutiny and oversight. Overall, Tangen’s comments highlight the growing importance of American companies in global investments but also underscore the need for a more balanced approach that takes into account both economic growth and environmental sustainability.
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