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Stupid move by Germany, giving even more money to the US corporations. In fact, the EU as a whole is presently doing just that, those Next Generation EU funds w
by paganel 4y ago
Stupid move by Germany, giving even more money to the US corporations. In fact, the EU as a whole is presently doing just that, those Next Generation EU funds will, for a great part, find their place in the coffers of the big US tech companies.
It goes like this: EU gives billions of dollars to EU national governments but with many strings attached -> an important part of those strings is related to digitisation -> the EU national governments redirect the money they received from Brussels to digitisation implementations -> US tech companies get even more wealthy, as there's almost no local European competitor that can compete when it comes to the cloud, hardware and even software (just think of all the EU funds that will go almost directly to paying Oracle licenses).
Similar thing happens with re-directing EU money into China's coffers, as most of the EV batteries are now produced in China and there's a big push at the EU level for us, EU, citizens, to purchase EVs.
- deleted 4y ago[deleted]
- alfalfasprout 4y agoIt's not very well stupid though if there isn't a great viable alternative, is it? The issue with there being no good local competitors is a more fundamental one-- it's extremely difficult to spin up a viable tech business in the EU, period. In part, this boils down to regulatory issues including tech companies needing to abide by a myriad of complex regulations but also things like fairly costly labor regulations.