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> Should the Europeans ban American equipment? That's up to them and their own risk assessment. One thing I know for sure is that if they did, the US would wag
by MR4D 6y ago
> Should the Europeans ban American equipment?
That's up to them and their own risk assessment. One thing I know for sure is that if they did, the US would wage an economic war so fiercely on Europe, that Nokia & Ericsson would have a tough time doing anything in the US for years to come.
Further, collateral damage would include all sorts of manufacturing, which would cripple Germany.
Remember the imbalance here: European manufacturing is more dependent upon the US than the US is on Europe. Fully 50% of Germany's GDP is exports, and worse, Germany exported $118bn of goods, while the US exported only $50 to Germany.[1] While that doesn't seem a big difference, once you look at it as a share of each other's economies, it is immense (roughly 3% of German GDP, versus only 0.5% of US GDP).
[1] - https://www.americanexpress.com/us/foreign-exchange/articles/international-trade-between-us-and-germany/ https://www.americanexpress.com/us/foreign-exchange/articles...
- tamdar 6y agoYou are talking about US vs EU and compare US to Germany.
- MR4D 6y agoTrue, but for a good reason. If you take out the economic engine of Germany, you’re done. They are the banking muscle of the EU, and once that goes, everything goes.
- tamdar 6y agoNot exacly. For sure Germany is one of the core players in UE but don't forget about others. About exp/imp data https://en.m.wikipedia.org/wiki/Economy_of_Germany https://en.m.wikipedia.org/wiki/Economy_of_Germany if you have better data about that please propose correction.