I think the depths of the answers here, particularly with China, are far beyond the scope of technical discussion and to be honest likely beyond the scope of European-specific tech needs. Just because the US did one thing a certain way, and China did it another way; doesn't mean Europe must follow either of those to be successful.

However, it is going to require public funds to achieve. A public/private partnership scenario is very likely at least the near to mid term future for European tech development. And the world can only stand to benefit.

Politically, nationalism is absolutely very bad and it's a shame the world is headed in this direction. This global distrust only serves chaos agents and accelerates us into another World War (if we aren't already in the early stages of one). I had hope that people would prefer to come together but it's unfortunately too risky with US politics.