Europe’s new power map: From ASML to the Arctic – Lionel Laurent

Europe’s new power map: From ASML to the Arctic – Lionel Laurent

Europe's geography is reshaping with industrial hotspots emerging.
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In a de-globalising world, Europe's geography is reshaping with industrial hotspots emerging from the Netherlands to Finland. ASML in the Netherlands exemplifies this shift, influencing global chip wars. The war in Ukraine has prioritized defence, reviving munitions factories in France and shipyards in Italy. Europe's connectedness is now seen as a vulnerability, prompting a focus on securing raw materials and bolstering economic security through innovation hubs and international alliances.

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By Lionel Laurent

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.

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