Hermann Hauser calls for UK, European sovereignty fund
Hauser was a co-founder of Acorn Computer and was instrumental in the formation of ARM. He is now a director of Amadeus Capital Partners.
In an essay published on Project Syndicate he has called for the UK and Europe to come together and form a €100 billion ($120 billion) technology sovereignty fund to counter the $100 billion being spent by the US and even larger amounts China is spending. He concluded that the only fair and stable outcome would be the establishment of independent sovereignties for the US, China and Europe.
In his essay Hauser pointed out that whereas in previous centuries dominance came by force of arms, it is exerted today by the use of technology monopolies. Hauser says that the US has not only leaned on western countries to exclude China’s Huawei from its telecommunications networks, but also pointed out that all ICs of significance are made with US EDA software and that US IP controls payment infrastructure. The coercion is much the same as if a US aircraft carrier was docked in the River Thames, but produces much less reaction from the populace, Hauser said.
Hauser, an opponent of Brexit, said that Europe recognizes that it risks being collateral damage in a US-China trade war. Hauser has in the past spoken out against the sale of ARM to Nvidia on the grounds it would be the sacrifice of the one of the few European technology companies of global significance. Hauser says Europe should help China develop its semiconductor industry. In exchange for intellectual property and technical support China should be encouraged to build wafer fabs in Europe. This is strategy that has previously worked in many other industries, most notably with the Japanese car industry.
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