"The European economy has two major challenges: the need to create a sustainable economy, and the need to be competitive in the global market. It is well known that our current society is not sustainable; we need to achieve a major increase in the efficiency of resource use, whilst also preventing pollution. However, at the same time we must ensure that European businesses are able to compete globally, and that they are able to create and retain jobs. These two challenges are often seen as in contradiction to each other - but, for the sake of Europe and the rest of the world, they need not be.This paper will examine how the challenges of competitiveness and innovation interrelate, and how they link with innovation and regulation. It also discusses the likely impacts of REACH on innovation in Europe. ..."

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