>The EU chips act was already largely a failure and they threw plenty of money at it.

Yep, the proof is in the pudding. They managed to grab defeat from the jaws of victory again when US got TSMC to open a fab there.

For example, both German and Austrian semiconductor companies are choosing to expand manufacturing in Malaysia and not domestically.

I don't know what more proof people need that the EU is cooked on manufacturing side.

>The problem with the Europe is they look to their bureaucrats to stimulate things then expect different results from the last 50 times.

The definition of insanity. This is a mentality problem and is deeply ingrained into the EU population. European people are always looking at the state to solve any problems including those of industry and free market, without realizing the state mostly isn't good at those things and they'd actually be better off with less government there. Whenever the state intervenes into the economy it just further supports the massive bloated legacy companies who lobby the politicians never the startup ecosystem. And then people mistake again by voting for more government hoping to fix that which just results in more expensive bloat and more red tape nor a competitive freer market with more capital and innovation.

>Europe needs its own private industry that attracts talent and capital. It doesn’t need another EU press release talking about hopes and dreams

Hey, it worked for the USSR, right? ;)