The inability to cope with failure is a culture that is common in Europe. Failure is so personally devastating, so destructive to social and cultural standing that not only must you not take risks but other people must be actively prevented from taking risk.

Maybe the US investment doesn't work, but the US will have tried at least. Taiwan is, ironically, the perfect example of where the initial impetus came from the government because there was no culture of risk-taking. Parts of Europe have a savings culture that is very similar to Taiwan and led to very poor growth and very high inequality.

If the US keeps trying, they will succeed. On here, the view was that China could never build out this capacity, they did. The only way to guarantee failure is to never try.