The head of France's state investment bank Bpifrance has painted a grim picture of Europe, saying the continent is caught between the world's two largest economies and is unable to fund its own future-critical industries. Nicolas Dufourcq warned that Europe is being overcome by Chinese industry and U.S. technology and is accelerating its economic decline by exporting its savings. "I'm sorry to be radical in my vision, but we are doubly colonized: industrially colonized by the Chinese, digitally colonized by the U.S.," Dufourcq said at IPEM, a private capital conference in Paris, last week. "It's not in the future; the consequences are now." The core of the problem, he suggested, lies with Europe's massive pool of private and institutional capital that is not being invested at home. Even Eu

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