Wednesday, 11 May 2022
Hello Future is blue readers,
Today we are here to cover the global battle for the production of semiconductors and whether Europe has a real plan to lead in this area.
A couple of months ago the European Commission announced the EU Chips Act, an initiative putting together 11 billions euros of public funds for the research, design and manufacture of semiconductors. The goal is to mobilise nearly four times as much of public and private investment until 2030. These are big numbers that give an idea of how crucial these components are for achieving the EU vision of strategic autonomy.
To discuss this subject, we have invited Elena Pisonero, a top expert with plenty of entrepreneurial and public service experience, to join our latest podcast episode. Elena is the founder and CEO of Taldig, a business consulting agency, and before that she had a number of leading roles such as president of Hispasat, Spain´s ambassador to the OECD and Spanish Secretary of State for Trade, Tourism and SMEs. In today's new podcast episode she responds to questions by our host Carlos Carnicero Urabayen.
At the end you can see as usual some of the readings that are capturing our attention these days.
New podcast episode available!
The European Commission's goal is to expand the EU's global market share of semiconductors from the current 9% up to 20% by 2030. This will be quite a challenge as other global powers such as the US, China, Taiwan and South Korea are also intensifying efforts in this area.
In our new podcast episode with Elena Pisonero we take a critical look back to understand why in the 90s the EU was a leading producer with over 40% of the global production and the numbers declined dramatically since then. We also touch on the tricky issue of the need for the EU to defend its core values in its trade relations with other global powers such as China.
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What we are reading
This is why we’ll probably have to work longer than our parents did
In more than half of the 38 OECD member states normal retirement age is expected to increase by the time young people now entering the workforce depart during their silver years.
How to make EU fiscal rules compatible with net zero
Green public investment in Europe is on the rise but there is little hope that these large spending needs can fit into the EU’s current fiscal rulebook.
Fiscal support and monetary vigilance: economic policy implications of the Russia-Ukraine war for the European Union
Policymakers must think coherently about the joint implications of their actions, from sanctions on Russia to subsidies and transfers to their own citizens, and avoid taking measures that contradict each other.
Have a nice rest of the week.
Funcas Europe Director