Europeans can blame Russia for that, but really if you look over the last 25 years Europe has been falling behind America. From 1945-1990 when the US was actively running Western Europe they caught up to America in per capita GDP. And Europe was more or less America's equal in big corporations.
But America sort of lost a lot of interest after the Soviet Union went down, and the European countries went back to their old ways. So they stagnated and then eventually started to outright decline.
The European way is oligarchical collectivism aka feudalism. Where the masses are kept poor and a few people with power are very rich, enforced by the state forces.
For example, where are Europe's great technology corporations? They have more people than America, and more educated people, and in 1990 they were the same wealthy. But in feudalism the aristocracy would never let entrepreneurs rise up to challenge them in wealth. The powerful in charge of the governments find one reason or another to shut those down before they get big.