Re:Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan
by andosa on Sunday March 18, 2018 @09:02AM
(#16611756)
How has it not ever happened? China, who essentially blocked Google, Amazon et al, now have Baidu, Alibaba, Tencent and other massively successful tech companies, while EU is stuck with aforementioned monopolies with near-zero chance of a local competitor competing with them.
[ Parent
| on HN ]
Re:Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan
by barry-cotter on Sunday March 18, 2018 @09:18AM
(#16611805)
Google, Amazon, Microsoft etc. are still there. The US can still produce steel and computer chips. Other countries subsidising domestic production of software, steel and computer chips did not lead to the US being unable to do so.
And amazon is pretty big in China, taobao and jingdong are just bigger and better.
Re:Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan
by andosa on Sunday March 18, 2018 @09:45AM
(#16611888)
Yes, they are still there, but the protectionism is what allowed the local companies (Baidu, Tencent, Alibaba etc) to compete initially and be better in the end. Whereas in EU, local competition has been crushed and it is now stuck with the monopolies.
Re:Tech Giants Set to Face 3% Tax on Revenue Under New EU Plan
by barry-cotter on Sunday March 18, 2018 @10:14AM
(#16611986)
Baidu is still not better than Google, even in Chinese, for what it’s worth.
Infant industry protection may make sense in some cases but it’s more commonly used as a smokescreen for corruption. It was used as a justification for high tariffs and low quality domestically produced goods all over the world throughout the 50s to at least the 80s.
If the EU doesn’t have much in the way of domestic IT companies so what? They’re still rich. The fact that others are getting rich in other, different ways does not make them poorer.