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Why does it feel as though only the US and China (and maybe some other Asian countries) have an economic future? (sh.itjust.works)

submitted 3 months ago by RebiJes@sh.itjust.works to c/asklemmy@lemmy.ml

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I live in Germany, which by some accounts, is the third largest economy, and we have literally no answer for what is next, economically. Neither in the public nor private sectors. Nobody is investing, nobody is building new things, nobody even knows what to do next. But the story is the same throughout Europe as far as I can see. All industries hope to keep selling the same old shit. But the 3rd world is catching up. They can manufacture goods that are just as good, and for much cheaper. Heck, some can even do it cleaner too, since they have access to cleaner energy sources. But we also have no real 21st century income streams.

It looks to me as though, only the US and China are undertaking really innovative projects.

Is my reading of the situation flawed? I would love to have your input.

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[–] tofubl@discuss.tchncs.de 4 points 3 months ago (7 children)

According to Varoufakis, Europe missed the bus on cloud capital (=big cloud platforms like amazon, meta, twitter,...) and the race is currently playing out between US and China.

[–] RebiJes@sh.itjust.works 3 points 3 months ago (6 children)

IMHO, it missed the boat on everything to do with tech, and tech is basically 21st century capitalism. The only tech in Europe are secondary services like booking.com that ultimately depend on primary services (Google Search, Youtube, Facebook Platform, Twitter, ...etc). I agree in large part with Varoufakis. Although he is "on the left" he has better investment sense than all the suits who control European capital.

[–] caoimhinr@lemmy.world 2 points 3 months ago (1 children)

Check out IMEC and ASML, they are innovators in the semiconductor sector. Though I believe ASML has a large (or majority?) US interest, they are still headquartered in the Netherlands.

[–] LarkinDePark@lemmygrad.ml 2 points 3 months ago

It's a Dutch company completely, but the US ordered the Dutch government to stop selling to China because they're cry babies and can't handle free market competition.

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