> EU does not foster any form of framework for growing any industry
You are right. Pharma, automotive, financial in EU all come from the US. Companies like Nokia, Siemens, Bosch, BMW... all american names.
You are right. Pharma, automotive, financial in EU all come from the US. Companies like Nokia, Siemens, Bosch, BMW... all american names.
On top of that, traditional European industries like Automotive have not kept up with challengers, the financial industry across Europe itself is morose in comparison to similar markets in the US or China, and European Pharma itself is overwhelmingly clustered in Switzerland which is not an EU member.
Nokia itself was at the brink of collapse in the early 2010s, and Siemens and Bosch have faced increasing stress at the bottom market from Chinese players and at the upper market by American players, plus states like the US and India required significant firewalls between those companies operations in their countries and Europe.
Long story short, while individual European states may have been able to build innovative companies, that muscle has largely atrophied over the past 20 years.
All these EU companies are all private enterprises and they are %100 from a country in EU because there's no such thing as EU as a country, EU doesn't have companies(beyond entities created to fulfill certain functions). This too may change soon because they are looking into introducing a 28th regime which would be like virtual EU member.
I think there's huge confusion on what is EU.
BTW, EU has roots in "European Coal and Steel Community" and role in forming the Airbus but even in these ase it was just a facilitator.
All these expectation that are based on imaginary things(don't take it personally please, I see these things all the time) shows that EU desperately needs to become a country by its own right. Its so confusing to understand what EU can and can't do, what organization is under EU control and how much.
Most industries in the US developed due to state and federal government subsidizes and industrial strategy.
You can see this with the development of semiconductor clusters in Oregon, Arizona, and New York in the 1990s-2010s because of state level industrial policy, the development of the telecom hub in Dallas TX in the 90s becuase of Texas's state level industrial policy to leverage the telco boom, and historically Michigan and now South Carolina, Georgia, Alabama, and TN's industrial policy for automotive manufacturing.
Furthermore, this ignores the impact that the IRA and IIJA subsidizes and investment promotion had in bringing European manufacturing industries to the US at the expense of their European operations - so much so that both France and Germany lobbied at all levels of the US during the Biden admin to try and kneecap the policy.
> All these EU companies are all private enterprises and they are %100 from a country
Absolutely, as are companies in the US yet our states have been open to leveraging industrial policy where possible in order to attract and retain investments.
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I am under no illusion that the EU is a country. Heck, if you re-read my initial comment that is my point.
I know that it is Germany, France, Netherlands, etc who are setting policies, but the EU at a macro-level can help solve the coordination problem that exists amongst individual EU member states to develop industrious policies.
That said the current status quo needs to end - either member states need to admit the EU as a central body is powerless and return to the pre-2000s vision of the European Union, or admit that a unified Europe is ideal and centralize.
The current status quo is the worst of both worlds, because the delimitation of power is wonky, and leads to nation state-EU clashes.
Which is what's happening.
This is purely self inflicted BS that we accumulated for roughly 30 years now by making it increasingly harder to say no to things we don't all agree with. Even with all the opt-outs possible, countries still have to follow strict rules to avoid huge fines as a punishment, when they all they ever wanted was free trading and movement between countries. That was pretty much it. I agree you need a coordinator for certain subjects, but that's far away from what we have today.
EU (or EEC) up until the 1992 Maastricht treaty was exactly what people wanted/countries needed: free trade / movement of goods etc.
In 1992 the good and bad of what we see today began.
And what will be the language spoken in this country? German, I guess, of French? Or English, ironically the language of the only country who left EU? And most importantly of all, what about taxes? That's another EU war right there.
More than a country by its own right, we need less regulations, more freedom of trading, but that's pretty much it. Leave it to the countries to innovate and how. Some regulations are not bad, like the USB stuff, but countries should be free to choose how to do things, without committing to either long term nonsense goals nor to force some countries to accept some things their people don't agree with - in the name of xyz.
EU as a single country means not understanding a single bit of our EU history, of what makes us Europeans, rather than Americans, Indians or Chinese.
Intuitively it's easier to think it was "due to" England, but you're right.
Why does that matter? There are multiple countries in the world that have more than one official language. With AI translation having multiple languages in one country is a lower barrier than ever.
Financial central was mostly London due to favorable local laws.
Nokia fills very small niche now, basically services backbone
Bosch and Siemens predate EU
BWM also, but i wouldn't put it at forefront of innovation with how automotive industry is going.
did you notice that not even a single company you've mentioned is something new, and all of them basically come from "western" side of EU or are already established industries sometimes predating WW1?
> EU does not foster any form of framework for growing any industry
Also you:
> did you notice that not even a single company you've mentioned is something new
K, but that was not your point since they did indeed "grow as an industry". Aren't you saying that auotomotive hasn't grown as an industry in the EU, I hope. Also,
> Pharma is miles behind US,
Source?
> Financial central was mostly London due to favorable local laws.
You mean like Paribas, MPS, Allianz... none of which are in the UK?
I get it, its easy to throw various statements around to feel oneself' good, but can you please back them up with some hard facts to have a healthy discussion? This site strives for a better behavior.
Anyway, BMW and Bosch is also American because they make their money by selling to Americans. Don't let anybody say its not true.
Ozempic was invented by a Danish company, Novo Nordisk. Only recently did Eli Lilly, an American company, catch up.