alt Hacker NewsTheir biggest brand, BYD, is also relatively the "oldest."
It's the governemt priorities, local gov in China is building EV companies, AI companies. EU governemnt, US local gov is building shelters, or people who kick out people from a shelter on a voters mood swing.
A friend from the EU visited recently. He said, "At least the Netherlands is doing much better than 10 years ago...we have lights, roads." That one sentence captures the entire mindset gap.
The bitter irony: Philips literally built ASML and TSMC, then sold both. Now those companies dominate global semiconductor supply chains while Philips sells... healthcare equipment at a loss.
And ASML is about to lose it's dominance too.
But yeah...lights on the streets. Built with Chinese LEDs. Powered by Chinese solar panels. Bought using budget deficits. In debt.
And the deficit keeps growing. Some EU countries faster, some slower. But the trend is unmistakable.
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To close the loop, the debt is treasury bonds held by other countries?
can you expand on ASML losing its dominance? i have not heard that
Amen. This is some of the best descriptions of the current mid to upper class mentality in Europe. Frankly, I think only the common man feels what is really happening here.
My homecountry the Netherlands is the worst. The push for becoming 'small America' had us sell of everything we could possibly be proud off to other countries, including the US (mostly Blackrock and Vanguard) and India and China. Privatize everything because it works so well in the US, sell it all (private and public) off to the highest bidder and hope for globalization and the market. NL is doing well economy wise still, but I wonder how much better we could've done if we kept it all to grow.
I studied math at the University of Eindhoven which, at the time, basically meant you would work at Philips or one of its companies. I did not and in hindsight I don't think I could've handled the downfall of that company up close.