When US officials wanted to pressure Europe to do more to stave off China’s technological advances, they didn’t call European Union headquarters in Brussels. They instead decided to travel to the Netherlands, home to ASML Holding NV, the world’s only supplier of very high-end semiconductor-making equipment and thus a critical global chokepoint in the $380 billion global chip wars.
The power wielded by ASML from its campus in Veldhoven is one example of how Europe’s geography is changing. French munitions factories and Italian shipyards are whirring as the war in Ukraine forces defense matters to front of mind. Chip factories are being built in cities that still bear the scars of World War II. Kalundborg, production hub for Ozempic maker Novo Nordisk A/S, is turning Denmark into a one-company country. Sweden is tapping raw-material deposits essential for the green transition; Finland is converting paper mills into supercomputers.
Source link : https://www.bloomberg.com/opinion/articles/2024-05-15/europe-s-new-power-map-from-asml-to-the-arctic
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Publish date : 2024-05-14 07:00:00
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