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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: 1) by khallow on Saturday August 24 2019, @11:19PM (2 children)

    by khallow (3766) Subscriber Badge on Saturday August 24 2019, @11:19PM (#884961) Journal
    I would agree, if I were on the other end of that $100 billion transaction. That money would buy a lot of lifestyle.

    If you don't, you'll find yourself beholden to some idiot somewhere that starts a trade war with you.

    Unless, of course, you nurtured a economy that doesn't need large infusions of money from you in order to do the things they should be doing.

  • (Score: 0) by Anonymous Coward on Sunday August 25 2019, @01:37AM (1 child)

    by Anonymous Coward on Sunday August 25 2019, @01:37AM (#885014)

    Good luck with your "nurtured a economy" when it comes to funding armed forces, postal system, health system, aerospace, etc. You really think corporations are going to build your country? Governments all over the world invest in areas of their countries where corporations won't or can't.

    • (Score: 1) by khallow on Sunday August 25 2019, @02:06AM

      by khallow (3766) Subscriber Badge on Sunday August 25 2019, @02:06AM (#885027) Journal

      Good luck with your "nurtured a economy" when it comes to funding armed forces, postal system, health system, aerospace, etc.

      Luck? You just need to spend the money competently.

      Governments all over the world invest in areas of their countries where corporations won't or can't.

      Corporate welfare being a huge example of the "invest" approach they use.