European Economics Thread

Strangelove

Strangelove

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Huawei to establish first European cloud services hub in Ireland

A Huawei logo. /CFP



Huawei will invest 150 million euros (about $148 million) in building a cloud services hub in Dublin, Ireland, the first of its kind to be set up by the Chinese telecom giant in Europe, it said on Tuesday.

The cloud hub will create 200 new jobs for the local labor market in the next five years, said the company in a statement, noting the hub will serve customers across Europe and help Irish enterprises expand into new global markets.

"We see Ireland as a strategically important location for the global deployment of Huawei Cloud," said Tony Yangxu, CEO of Huawei Ireland.

"The new offering will be based on ... cloud services customized to meet the needs of various Irish and European customers, but particularly small- and medium-sized enterprises," he said.

The statement from Huawei Ireland quoted Irish Deputy Prime Minister and Minister for Enterprise, Trade and Employment Leo Varadkar as saying that the investment demonstrates Huawei's ongoing commitment to Ireland.

"Huawei is expanding its portfolio of services in Ireland with this investment, which will substantially enhance our thriving technology ecosystem," he said.

Huawei has established its presence in Ireland since 2004, with its business now serving more than 3 million people and supporting over 900 direct and indirect jobs in the country, according to Huawei Ireland.
 
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pmc

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This thing was predicted. German economic decline will have consequences for it inside Europe. Importance of Middleast-Africa will increase.
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The President of the French Republic, Mr. Emmanuel MACRON, the President of the Spanish Government, Mr. Pedro SANCHEZ, and the Portuguese Prime Minister, Mr. António COSTA, met in Brussels this Thursday, October 20, 2022.

They decided to abandon the MidCat project and to create, as a priority, a green energy corridor linking Portugal, Spain and France to the EU energy network.
Click to expand...
 
tphuang

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So, it's well known by now that Olaf Scholz is traveling to China with a business contingent. He also spoke out against decoupling from China and deglobalization. This is quite a huge shift over a few months ago when he warned businesses to decouple from China. As i discussed in numerous places, the complete opposite happened. The entire German auto industry is more dependent than ever on the Chinese supply chain. At the same time, we've seen more German investment and factories in China. All of this is good new for Germany itself and for China in the current economic problems. It's probably fortunate for China that German businesses hit back so hard at the green party politicians that Scholz had no choice but to support Germany businesses.
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more recently, approving the Cosco deal with Hamburgh port has also pissed off the German spy chief and ruling coalition politicians (mostly the neo-liberal Green party members).
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The German spy chief is also anti-China. Just because the business leaders won this time, that does not mean they will always win.

This visit is not only big for Germany but also for China. Well German businesses are looking to survive with Chinese investment/market, China also needs German help to keep its ties to Europe. Countries like Finland and the Baltic states can complain as much as they want, but they don't hold power over the EU. Ursula Von der Leyan can complain as much as she want, but the European voters will kick her out. China has to show Germany and the rest of Europe that it can be of help for Germany economy at a time that America is profiteering off selling energy to Europe and destroying their natural gas pipelines.

See Macron also complaining about this recently
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Maybe we are finally seeing the European standing up to America for de-industrializing them. Hard to see the European say this kind of stuff publicly if they are not at least strong suspecting US and UK are behind the nord stream sabotage.

Macron is also visiting China next month. China will be well versed to give the French businesses some good deals like large Airbus orders and even nuclear plant order.

It would be foolish to think that the Europeans will stay neutral in any China/US dispute, but having a slightly independent Europe would be good to China. In order to do that, China has to keep working on getting European industries reliant on Chinese supply chain and keeping its economy open to European investment. The winter is coming and European public is only going to grow more weary of NATO and the security apparatus. Chinese leadership need to be not arrogant about this.
 
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