Thursday, June 17, 2021

g-f(2)328 The big picture of the digital age (6/17/2021), WSJ, U.S., EU Forge Closer Ties on Emerging Technologies to Counter Russia and China.


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Opportunity, U.S., EU Forge Closer Ties on Emerging Technologies to Counter Russia and China
  • The U.S. and European Union plan to cooperate more on technology regulation, industrial development and bilateral trade.
Opportunity, A new high-level Trade and Technology Council 
  • Central to the increased coordination will be a new high-level Trade and Technology Council the two sides unveiled Tuesday. 
  • The aim of the TTC is to boost innovation and investment within and between the two allied economies, strengthen supply chains and avert unnecessary obstacles to trade, among other tasks.
  • The two sides agreed Tuesday to suspend a 17-year trade fight over subsidies to jetliner makers Boeing Co. and Airbus SE, the longest and most costly fight in World Trade Organization history.
Lesson learned, The coronavirus pandemic has exposed weaknesses 
  • The coronavirus pandemic has exposed weaknesses in Western economies’ manufacturing bases, resulting in shortages of vital goods from medical masks to microchips.
Opportunity, Microchips are likely to be an early focus 
  • Microchips are likely to be an early focus of U.S.-EU cooperation, Ms. Vestager said, potentially via the TTC.
  • The EU recently announced the objective of increasing its share of global chip-making from 10% to 20% and pledged more than $150 billion to the effort, which could come from coronavirus relief funding. 
Opportunity, Increasing domestic chip manufacturing  
  • Washington and Brussels both want to increase domestic chip manufacturing to secure supply chains exposed by the coronavirus and to counter China. 
Alert, Align policies on regulation and standards for new technologies
  • The TTC will also seek to align policies on regulation and standards for new technologies like artificial intelligence.
  • China has made international standards-setting a national priority, especially for emerging technologies where norms have yet to be established.


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Opportunity, U.S., EU Forge Closer Ties on Emerging Technologies to Counter Russia and China
  • The U.S. and European Union plan to cooperate more on technology regulation, industrial development and bilateral trade.
Opportunity, A new high-level Trade and Technology Council 
  • Central to the increased coordination will be a new high-level Trade and Technology Council the two sides unveiled Tuesday. 
  • The aim of the TTC is to boost innovation and investment within and between the two allied economies, strengthen supply chains and avert unnecessary obstacles to trade, among other tasks.
  • The two sides agreed Tuesday to suspend a 17-year trade fight over subsidies to jetliner makers Boeing Co. and Airbus SE, the longest and most costly fight in World Trade Organization history.
Lesson learned, The coronavirus pandemic has exposed weaknesses 
  • The coronavirus pandemic has exposed weaknesses in Western economies’ manufacturing bases, resulting in shortages of vital goods from medical masks to microchips.
Opportunity, Microchips are likely to be an early focus 
  • Microchips are likely to be an early focus of U.S.-EU cooperation, Ms. Vestager said, potentially via the TTC.
  • The EU recently announced the objective of increasing its share of global chip-making from 10% to 20% and pledged more than $150 billion to the effort, which could come from coronavirus relief funding. 
Opportunity, Increasing domestic chip manufacturing  
  • Washington and Brussels both want to increase domestic chip manufacturing to secure supply chains exposed by the coronavirus and to counter China. 
Alert, Align policies on regulation and standards for new technologies
  • The TTC will also seek to align policies on regulation and standards for new technologies like artificial intelligence.
  • China has made international standards-setting a national priority, especially for emerging technologies where norms have yet to be established.

Category 2: The Big Picture of the Digital Age

[genioux fact deduced or extracted from WSJ]

This is a “genioux fact fast solution.”

Tag Multiple updates for those traveling at high speed on GKPath

Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts.


Authors of the genioux fact

Fernando Machuca


References



ABOUT THE AUTHORS


Daniel Michaels

Brussels Bureau Chief, The Wall Street Journal

Daniel Michaels (@DanMichaelsWSJ) is Brussels Bureau Chief for The Wall Street Journal. He was previously German Business Editor, also overseeing coverage of the European Central Bank. For 15 years before that, he was the Journal’s Aerospace & Aviation Editor for Europe, covering airlines, aviation and aerospace industries in Europe, Africa and the Middle East. Before that, he covered Central & Eastern Europe for the WSJ, based in Warsaw. 

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