This is always framed in terms of USA vs. China/Taiwan but what about Europe?
AFAIK (I might know wrong) the consensus among macroeconomists
is that "social market economies" like European ones are better suited (compared to "liberal market economies" like the USA) to investing in large scale manufacturing (see e.g. Varieties of Capitalism [0]—though it is a bit controversial).
Though I do wonder if chip manufacturing might just be too large for the EU to handle.
Many people in Europe keeps saying that e.g. Ericsson could start a fab but I'd be curious to see if a bill like this would succeed in the EU.
The EU passed their own Chips Act earlier this year. It was a point of contention since Intel's CEO has kept threatening to expand in Europe instead of the US if the US CHIPS act isn't passed.
AFAIK (I might know wrong) the consensus among macroeconomists is that "social market economies" like European ones are better suited (compared to "liberal market economies" like the USA) to investing in large scale manufacturing (see e.g. Varieties of Capitalism [0]—though it is a bit controversial).
Though I do wonder if chip manufacturing might just be too large for the EU to handle. Many people in Europe keeps saying that e.g. Ericsson could start a fab but I'd be curious to see if a bill like this would succeed in the EU.
[0] https://en.wikipedia.org/wiki/Varieties_of_Capitalism