Posted on 08/22/2019 7:48:37 PM PDT by NorseViking
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.
They’re also advocating for Europe to show more grit in Trump’s trade war, saying the EU should slap tariffs unilaterally on the United States.
While it’s unclear if the proposals will gain traction, the framework amounts to the most forceful acknowledgment yet that Europe is at risk of slipping further behind the U.S. and China in the race to solidify themselves as the global economic powerhouses of the future.
(Excerpt) Read more at yahoo.com ...
Trump shouldn’t lift one finger to defend Facebook, Google or Twitter.
All those new Muslim workers will lead Europe to technology innovations that will crush the USA and China
The EU is a mild form of the Nazi system of governance.
As much as I hate Goggle et al, let’s remember that the method they are seeking to employ they have tried before - state sponsered economic incubation of technology companies. It has not worked better than the the U.S. open markets and it’s not going to.
If they really and simply wanted to be state-capitalists, they’d have French and German governments keep buying shares of a Facebook or a Google until they had, collectively enough shares to have a heavy weight on their boards.
It would at least be more honest and it might work.
Euro-Socialist style technology investment.
This should be a highly efficient endeavor.
at least they are defending their countries from the GOOGFBTWIT etc monstrosities
Let me guess - their solution involves importing a couple more million African migrants, and negative interest rates.
And in the end, Germany has won.
Europa, Gross Deutschland ist.
Oh no! The master race is comink to take over the world again!!
Well, "submit or die" hasn't worked for Muslim countries, has it? No innovation, no dissent, no creativity. But they will try to crush us!
Agreed. As negative of a force as our tech companies are, they are in their position of dominance because of the greatness of the American free enterprise system. No European socialist “action plan” is going to beat that. If Nokia or some similar company had the chops to successfully compete with American tech, they’d already be doing it.
I like TRUE "free" trade, but ultimately, as it stands now (but not always) we currently win any and all trade wars, because WE ARE EVERYONE'S THE CUSTOMER. A customer that can make all these things and cull all of our natural resources ourselves. Let that sink in.
If we don't like what you're selling or your terms f**k you. We'll make it ourselves or buy it from someone else.
This isn't your father's "trade war."
Came back here and saw European cars everywhere - including, admittedly, one of mine.
We've been getting screwed by the Euros for years on end. If they want "free trade" let them have it - and watch their labor crumble. If they want a "trade war" let them have that too... and watch their countries crumble.
No more Eurpo-socialism at the expense of America. Re-locate or bring all of our troops home and let the Euro-elitists defend themselves. See how they like THAT.
First, we will send him a sternly worded reprimand.
100 billion. Is that all they have. We can come up with a trillion in thin air to counter that.
One might want to bring up StuidiVZ, a German Facebook-like company that came up around 2005. These guys felt that they could create a better platform than Facebook, with the same type features. Millions were poured into it...it went bankrupt in the fall of 2017.
If the EU pours ten billion Euro into some exercise like this....it’ll just go down into a pit and disappear. Part of this problem is that mangers in Europe tend to argue about everything advertised...has to work. So a US project that can be delivered in 12 months....in Europe, it’d be 18 months (has to be bug-free). Another issue is privacy as seen by EU bureaucrats, and the various rules hampering any developmental team.
Bear in mind that GM and Ford sell cars over there, but under different badges. Holden and Vauxhall are two which come to mind.
I believe Holden is history and Vauxhall is a rebadged Opel which is part of GM but actually designed and built in Germany. Many Chevrolet vehicles apart from trucks and large SUVs are actually simplified Opels and for quite some time already. They are Opel platforms with altered body panels and cheaper interior. Opel Mokka=Buick Encore, Opel Insignia =Chevy Malibu, Buick Regal, Opel Ampera=Chevy Volt.
Yep. Irony the big tech euro style socialism proliferators with TDS having chicken coming home to roost begging Trump to help them
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