Comment Re:Borrowed tech (Score 1) 45
But I must say that the "Inflation Reduction Act" from Biden really seems like a step in the good direction, as it pushes toward more in-house manufacturing, which is a first step toward regaining control of the innovation. I hope Europe understands that and does something similar. Or, and one can dream here, that there is some kind of alliance between Europe/US about that. Yeah, not gonna happen.
Steps to push towards more in-house manufacturing almost inevitably work against globalization and international competition.
If Europe does something similar, access to EU markets will be reduced for US products as well. That on top of current sanctions against China may eventually break the global economy into three big blocks:
- The US and probably the rest of North America.
- The EU
- China and whatever associates they can find (Russia?)
I'm not sure where Africa and South America would end up in this scenario.