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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
(Score: 2) by crafoo on Sunday August 25 2019, @11:09AM
"to set up a European Future Fund that would invest more than $100 billion in equity stakes in high-potential European companies."
lawyers picking winners in technology and sciences is so absurdly arrogant and laughable it's difficult to imagine any group of people less suited to drive top-down innovation. To actually be effective they would have to give up power and tax funds, which of course will not happen. But no, of course their plan is to take money from everyone in the form of taxes and redistribute it to their personal picks. which of course will have more to do with politics, bribes, and personal interests/vendettas than anything else.