I can't speak to Japan and China with much authority. I've done work there, but not enough to have a feel for the market. Comparing the US to Europe, I think you're spot on.

Europe lags US neoliberalism by 20-30 years. Some place (like the UK) are very much like the US.

The only good news to all the turmoil in the world right now is that it is waking up Europe to the fact that the US is not Europe's partner or friend. It is clear to the people that the US would and will screw over the rest of Europe like it is doing to Ukraine and Germany. The current crop of Euro pols are still owned by NATO (=US), but that is changing.