{"id":18940,"date":"2019-08-23T07:43:30","date_gmt":"2019-08-23T14:43:30","guid":{"rendered":"https:\/\/lapost.us\/?p=18940"},"modified":"2019-08-23T07:43:30","modified_gmt":"2019-08-23T14:43:30","slug":"eu-opens-its-wallet-to-compete","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=18940","title":{"rendered":"EU OPENS ITS WALLET TO COMPETE"},"content":{"rendered":"<p>The European Union is exploring the creation of a massive wealth fund of more than $100 billion to promote their own businesses to compete with U.S. and Chinese tech giants, Politico reported.<\/p>\n<p>The outlet obtained a 173-page document outlining plans for the bloc&#8217;s president-elect, Ursula von der Leyen, that includes a proposal to boost &#8220;European champions.&#8221;<\/p>\n<p>&#8220;The emergence and leadership of private non-EU competitors, with unprecedented financial means, has the potential to obliterate the existing innovation dynamics and industrial position of EU industry in certain sectors,&#8221; the document reads.<\/p>\n<p>&#8220;Europe has no such companies&#8221; to counter giants like Facebook, Google, Amazon, Apple and Microsoft from the U.S. and Baidu, Alibaba and Tencent from China, officials said in the proposal.<\/p>\n<p>EU regulators have taken a tough stance against U.S. tech giants in enforcing antitrust, privacy and tax laws, prompting accusations that Europe was acting out of protectionist impulses.<\/p>\n<p>According to Politico, the new fund would invest directly in European companies to build them up.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Union is exploring the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,5],"tags":[],"class_list":["post-18940","post","type-post","status-publish","format-standard","hentry","category-business","category-world"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/18940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18940"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/18940\/revisions"}],"predecessor-version":[{"id":18941,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/18940\/revisions\/18941"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}