The European Union lags behind in supporting new technologies and is therefore at risk of becoming dependent on the United States and China. Eindhoven Mayor Jeroen Dijsselbloem warns about this, where some 6,000 tech companies are located, including chipmaker NXP. Chip machine manufacturer ASML, currently the most valuable European technology company, is located in nearby Feldhoven.
“We are lagging behind and it will be very problematic,” says Dijsselbloem. According to the former Secretary of the Treasury, the programs to support technological innovations in the United States and China are “so broad that Europe is really in trouble.” He praised the good initiatives in this field of the European Commission, but stated that they are not supported with sufficient force.
Among other things, the European Union has taken new measures to promote the development of green technologies in an effort to compete with the United States and China. In April, the EU also approved a plan to invest 43 billion euros in domestic semiconductor production.
Our response to today’s international economic threats cannot focus solely on protecting our industries. “They also need to upgrade,” Dijsselbloem says. According to the mayor, investments should mainly focus on technologies of the future, especially in cities with important technology ecosystems such as Eindhoven, Dresden, Berlin and Grenoble.
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