US, EU Forge Closer Ties on Emerging Technologies To Counter Russia and China (wsj.com) 35
The U.S. and European Union plan to cooperate more on technology regulation, industrial development and bilateral trade following President Biden's visit, in a bid to help Western allies better compete with China and Russia on developing and protecting critical and emerging technologies. From a report: Central to the increased coordination will be a new high-level Trade and Technology Council the two sides unveiled Tuesday. The aim of the TTC is to boost innovation and investment within and between the two allied economies, strengthen supply chains and avert unnecessary obstacles to trade, among other tasks. "You see the possibility for alignment," said European Commission Executive Vice President Margrethe Vestager in an interview.
In a sign of both sides' aspirations for the council, it will be co-chaired on the U.S. side by Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai. The EU side will be co-chaired the Ms. Vestager, the bloc's top competition and digital-policy official, and fellow Executive Vice President Valdis Dombrovskis, who handles trade. As the EU's top antitrust enforcer, Ms. Vestager has gained prominence for her cases against U.S. tech giants including Apple, Google parent Alphabet and Facebook. Former presidents Barack Obama and Donald Trump both said her policies unfairly targeted American companies. Ms. Vestager has said her work doesn't single out any nationality. The TTC, which is slated to hold its first meeting in the fall and oversee many working groups, will allow the EU and U.S. to focus on cooperation, she said. Both sides stressed they would maintain regulatory autonomy within their respective legal systems.
In a sign of both sides' aspirations for the council, it will be co-chaired on the U.S. side by Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai. The EU side will be co-chaired the Ms. Vestager, the bloc's top competition and digital-policy official, and fellow Executive Vice President Valdis Dombrovskis, who handles trade. As the EU's top antitrust enforcer, Ms. Vestager has gained prominence for her cases against U.S. tech giants including Apple, Google parent Alphabet and Facebook. Former presidents Barack Obama and Donald Trump both said her policies unfairly targeted American companies. Ms. Vestager has said her work doesn't single out any nationality. The TTC, which is slated to hold its first meeting in the fall and oversee many working groups, will allow the EU and U.S. to focus on cooperation, she said. Both sides stressed they would maintain regulatory autonomy within their respective legal systems.
Does not sound very likely to be succesful. (Score:2)
As the sides views on things like privacy and anti-trust are so far from each other.
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The whole point of the council is to spend some effort on how to bring the two sides together, not bless each other's current positions and declare failure.
Re:A Sense of Scale is Lost (Score:5, Informative)
The Chinese economy is about the size of Germany.
No, it's not. It's about 3 times the size of the German economy. Closer to that of the entire EU. And growing fast.
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wiki link to gdp info, the most common measure of the size of an economy [wikipedia.org]
If you do not accept those numbers then whatever, but it answers your question as to what your parent poster is referring to.
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The right question would be is what size is the economy of Russia, China, Vietnam, Armenia, and Kazakhstan, Uzbekistan, Belorussia, Laos, Iran Korea, India, and Turkey taken together?
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And in South America and elsewhere. And that's a good thing, but what's your point?
For the foreseeable future, China is pretty much the elephant in the room there, economically, technologically and politically. Don't for a moment believe they will allow themselves to be leveraged for influence to any appreciable degree by the likes of Russia. Deep economic integration with a common economic policy and some political coherence sort of works in the EU - for a bunch of medium to small economies without one s
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I know that Russia is participating actively in it. All ten brigades of the Railway troops are working on the BAM, Baikal-Amur Mainline, nowadays. They even plan to bring the volunteer inmates to work there for money.
The EU, in my opinion, is turning into kind of a dormitory area. Not much work there. It is very hard to young people to
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The EU, in my opinion, is turning into kind of a dormitory area. Not much work there. It is very hard to young people to find job there, and not only to young.
The EU countries range from low youth unemployment (especially Germany (6.4%)) to very high youth unemployment in southern Europe (Spain (38.5%), Italy (33.1%), Greece (36.9%) and Portugal (29.0%)) compared to 9.1% in USA and an OECD average of 13.3%.
https://data.oecd.org/unemp/yo... [oecd.org]
We do actually also see a migration of skilled youths from the stagnant less free economies in southern Europe to the more dynamic and free economies in northern Europe where opportunities are more abundant. But you are definite
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Well, China's belt and road initiative is no secret and not in itself a bad thiing, but for the foreseeable future is decidedly no union of any kind, nor is it meant to be one. Russia, like other countries, is happy to take the money, but may well discover that there are strings attached to the Chinese strategy. As far as a common economic policy goes, many of the others currently benefiting from the Chinese infrastructure plans will soon enough find out that that is largely expected to be congruent with Ch
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The EU, well, they most decidedly have their issues, but so far the numerous predictions of their imminent demise have proven to be driven more by wishful thinking than reality. For the time being, the EU as a whole remains one of the largest and most wealthy economies of the planet. In the long run, they will of course be dwarfed by China - as will everyone else, by sheer virtue of population size. Once China has the same GDP per capita as Germany, say, their economy will be 17 times that of Germany.
Chinas economic growth is already decelerating and their population is growing old. The Chinese economy does of course have a lot of momentum but it does also have a lot of regulation that will limit the potential for GDP growth to much less than that of EU or USA on a per capita basis. In other words: The Chinese will not reach anywhere near the GDP per capita of the US unless the regime becomes more democratic which is not likely to happen.
Chinas share of World GDP (PPP) is btw. estimated by PwC to grow f
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To be honest the PwC estimate wrt to China's share of world GDP strikes me as a bit pessimistic (or optimistic, depending on one's perspective) - but that is also just an opinion. In addition to a marked decline in growth rate in China that would imply a fairly unhampered increase for all other emerging economies. Both scenarios aren't set in stone imho.
But either way, assuming that by 2050 there haven't been any drastic shifts in the political landscape, China will be the single largest economic and poli
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The Chinese econonomy is depending on the source between 1/2 and 2/3 of US economy.
The Russian economy is likely (again bit different based on source) likely a fair bit less than Italy.
In both cases the exact numbers are hard to say as official statistics are not trustworthy.
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For measurement of countries economies, not the living conditions of the people the real GDP makes more sense as such measurements mostly only make sense when it comes to foreign trade and there the real GDP is the one that matters.
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These are small countries with the territory of about 300 thousand square kilometers each. All raw material must be bought and imported.
Nowadays the knowledge and technology spread very fast. Before long the production will mole closer to natural resources.
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Wait and see (Score:1)
Re: Wait and see (Score:5, Insightful)
"Discriminate", perhaps. "Unfairly" not so much.
Context is key. The act apparently attacks the largest IT firms for a very specific number of reasons, namely be because the are the largest, they employ lock-in tactics, they don't pay any amount of taxes that passes the laughing test, to name a few.
That all 5 happen to be US companies tells more about the US attitude against the world i general an the EU in particular, than the other way around.
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They don't care if users' data are abused for advertising, as long as it's done by a European company. What they really want is Facebook / Google / Amazon being replaced with European alternatives, nothing more.
Not going to work. (Score:1)
EU actually wants to sell stuff to China. US is the one who's trying to get others and itself to stop all trade with China. If US tries to force the EU to pick the US over China, EU could lose access to the fastest growing economies in the world.
But the US knows that by trying to force the EU, if EU tells the US to fuck off, the US has a huge chance of being ally-less in the whole world except for it's fellow 5 eyes. There would be serious sad-trombones at that point.
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The US' real problem is that they have proven to be really unreliable and the countries it formerly allied itself with don't really trust it any more, with good reason.
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NATO was installed for two reasons: counter Russia and counter the European tendency to start wars amongst themselves.
And Europe can stand on its own to feet when it doesn't require a big dog behind it to give it credibility. Given their military budgets, no chance of that happening any time soon.
Horse already left Barn.. (Score:2)
The horse has already left the barn on this one.
I remember back in (1994?) when congress and the pres were all excited to get China into the WTO because of all the $$$$ their donors (both parties) would make selling cheap stuff from there (and putting lots of Americans out of work in the process). I remember thinking at the time that that was nuts and for a wide variety of reasons would be terribly regretted badly one day.
That day is now soon coming.
China will in the very near future become the world econom
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The real reason Japan declared war was for access to oil to fuel its industrialization, a resource which had only available in trade with the US due to colonial mercantilism that made other sources inadequate. When US policy restricted the oil trade, that was the bell opening the war. There is no comparable limited resource that will push China to declare war on any other country. It is not only "natural" country in terms of territorial integrity as its invaders always lost or shortly after winning actually became Chinese themselves because of cultural exchange. Rather than war, China will exert its powers in exactly the same way the US did by establishing a network of military bases supporting shipping ports and sea lanes.
The reason USA restricted trade (also from colonies) with Japan was because of the Japanese invasions of China and later French Indochina. But you are right that this effectively gave the Japanese little choice if they wanted to continue their war efforts. USA and Britain also supported China in other ways and if you look at the Japanese declaration of war you will see that they explicitly state the support to China and that this was an existential threat to Japan as the reason for the declaration. In other
Strict witrh China (Score:2)
Well I hope we get strict with China.