Bro, Europe is completely out of these games.
The main actors in European semiconductor world (ST, Infineon, NXP, AMS) are mainly focused on automotive / industrial applications, so in MCU and power devices. Although their portfolio is quite wide, this is their core business.
IMO they already know they will loose the Chinese market, but due to decades old strong partnership with Eurpean automotive and industrial companies, they still think to have a comfortable future as long as they are cautious with investments and keep financial books in order...and European automotive industry does not collapse.
Europe does not have hegemonic mentality, nor its people, nor its companies. We just aim at a comfortable and healthy life
we try to keep ourselves away from troubles....