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fy20

Right and there are also quite a few industries where Europe is way ahead of the US, to name a few:

- Railways and signalling equipment

- Container shipping

- Reinsurance

- Industrial machinery

- Wind turbine technology

- Luxury goods, luxury fashion and fast fashion

- Tourism

A big difference is that in Europe most companies are not big conglomerates. Yes everyone has heard of Siemens. But then you have tonnes of companies like WALDNER, based in a small German town with revenues of €350m, they make packaging equipment that can fill 100,000 yogurt pots per hour. Oh and they are a private company.

https://www.waldner.de/en/about-us/company/

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    > Container shipping

What a weird one to pick. Do you think the US doesn't have massive ports like Europe?

    > Wind turbine technology

General Electric is competitive with the best in Europe.

> What a weird one to pick. Do you think the US doesn't have massive ports like Europe?

Probably alluding to the fact that Europe owns the largest portion of the worldwide fleet.

> Do you think the US doesn't have massive ports like Europe?

I assume they mean the ships.

> What a weird one to pick. Do you think the US doesn't have massive ports like Europe?

The US has ports. But they don't build civilian ships, and they don't really own ships either. The vast majority of American ocean-going shipping is floated on ships owned by Europeans and built by East Asians

Neither the US nor Europe builds ships, they are almost all built in East Asia. China, South Korea, and Japan collectively build virtually all ships.

But of course anyone can buy and operate ships. Europe still has large shipping companies, although they are losing marketshare to Asia now, whereas the US has never been a dominant player in this area.

The US does operate some massive logistics companies that are a bit higher in the stack.

That's why it's so crazy to see Europe sabotage its shipping industry by seizing Russian ships and banning so many oil transports. That is going to result in Russia seizing European ships and the asian shipping carriers taking even more market share.

Across the board, Europe is de-industrializing.

Europe does build ships, even if East Asia dominates. But the US is abnormally low, like it build less tonnage than Finland.

Not everyone can operate civilian ship fleets, managing a global shipping operation is not a "pick up and do it", it requires some build up.

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