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EU Officials Draft Plan to Take On Trump, China and US Tech

posted by martyb on Saturday August 24 2019, @12:19PM   Printer-friendly

The Good Doctor Hue Phlung Pu writes:

European Union officials have drawn up an aggressive 173-page plan to counter both President Donald Trump's trade moves and American tech giants including Google, Apple, Amazon, Microsoft and Facebook.

According to a document obtained by POLITICO, European Commission officials are pushing their president-elect, Ursula von der Leyen, to set up a European Future Fund that would invest more than $100 billion in equity stakes in high-potential European companies.

The goal: get Europe competing head-on with the American and Chinese tech giants it has lagged behind for decades.

[...] The EU would use a so-called draft "Enforcement Regulation" if the Trump administration succeeds in its efforts to grind the World Trade Organization (WTO) to a halt.

[...] The EU is hoping to emulate past successes, such as its development of the GSM mobile global standard, which fueled the rise of companies such as Nokia.

[...] The document seeks more stringent measures to block Chinese companies from taking part in tenders in Europe to penalize them for the level of subsidies that they receive from the government in Beijing.

https://www.politico.com/story/2019/08/22/europe-plan-trump-tech-companies-1472326

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  • (Score: 3, Insightful) by The Mighty Buzzard on Saturday August 24 2019, @02:05PM (4 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Saturday August 24 2019, @02:05PM (#884731) Homepage Journal

    As long as Europe plans on taxing the everlovin fuck out of its corporations, they're never going to be able to compete. That's just a fact. Shoveling government money at industries in the hopes that they'll put you on top does not work, ask the Soviet Union. If you want them to go all out, you have to not take away their reason to.

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  • (Score: 3, Interesting) by RamiK on Saturday August 24 2019, @03:02PM (1 child)

    by RamiK (1813) on Saturday August 24 2019, @03:02PM (#884771)

    Shoveling government money at industries in the hopes that they'll put you on top does not work, ask the Soviet Union.

    How do you spell Bell Labs in Russian?

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    • (Score: 2) by driverless on Sunday August 25 2019, @03:08AM

      by driverless (4770) on Sunday August 25 2019, @03:08AM (#885048)

      How do you spell Bell Labs in Russian?

      KGB Sixth Directorate.

  • (Score: 0) by Anonymous Coward on Saturday August 24 2019, @07:46PM (1 child)

    by Anonymous Coward on Saturday August 24 2019, @07:46PM (#884881)

    Ah yes, playing to the lowest common denominator. You do realize that is how we're in the current state of the world right? Also "globalism" by those "progressives" is what your mindset leads to.

    Easily solved with legislation, tariffs, embargoes. Want to do business in the US? Pay your share of taxes. Foreign companies undercutting the locals? Tariff the shit out of their products.

    Real talk for a sec, just how dumb are you?

    • (Score: 1) by khallow on Sunday August 25 2019, @01:29AM

      by khallow (3766) Subscriber Badge on Sunday August 25 2019, @01:29AM (#885010) Journal

      Easily solved with legislation, tariffs, embargoes.

      Trump said it was easy. So it must be.