GlobalFoundries claims German chip subsidies will 'distort competition'

US semiconductor manufacturer GlobalFoundries has criticized the German government's €20 billion ($22 billion) in semiconductor subsidies, claiming it will distort competition. Germany's Federal Ministry for Economic Affairs has confirmed local semiconductor production will be boosted by the off-budget Climate and …

[Joe W]

Distort competition?

After the US spent deity knows what on "subsidies" for foundries on US soil?

Yeah, right.

No, I'm not for them, it's just that... Well... a bit late to complain about this...

OK, this comment is about competition across continents. Which was not their point, but still...

[Pascal Monett]

Re: Distort competition?

It's always the same story. When US companies get subsidies, it's to support the economy. When foreign companies get subsidies, it distorts competition.

That dead horse has been flogged for so long it's surprising there's anything left to that threadbare argument.

[Will Godfrey]

Poor Me

Is there a market that hasn't already been majorly distorted by speculative investors?

[blackcat]

Re: Poor Me

I don't think so.

The current trend definitely seems to be 'wait for govt to start handing out the £££' rather than the older 'first to market gets the biggest share so hurry up' ethos.

[SundogUK]

Re: Poor Me

Markets aren't distorted by 'speculative investors' they're distorted by government intervention. Speculative investors are an integral part of the market mechanism.

[ChoHag]

Re: Poor Me

Markets aren't distorted by 'speculative investors' they're distortedand by government intervention.

FTFY

Distortion is the goal.

[codejunky]

Re: Poor Me

@SundogUK

'The market' needs to be taught in schools. If only the teachers understood to teach it.

[Anonymous Coward]

Re: Poor Me

Religious Education is already compulsory in UK state schools. But in the US I don't think they are allowed to teach religious beliefs, are they? Hmm?

[Ideasource]

Re: Poor Me

Yes and no.

I'll explain.

In effect US schools that are considered public receive public and governmental backlash if a major stink is raised about what appears at the time to be religious.

However the level of social indoctrination ( which itself is a religion ( by measure of psychological and social mechanisms even if not by official designation) is such that there is very little education and mostly indoctrination to dogma's buttressed only by belief/imagination and not at all by physical fact.

[Lil Endian]

Dear GlobalFoundries,

In a capitalist society the rich get richer, and the poor get poorer. I do apologise if this is shocking news to you. Get better soon.

Yours most sincerely,

A Most Empathic Pleb

/dry-my-eyes

[potato_chips]

Nope, the poor don't get poorer under capitalism.

In a capitalist society, the rich may or may not get richer, but overall, the poor also get richer, and some poor get much richer.

No other system has proved to lift more people out of poverty than systems that embrace capitalism - all of the Marxist derived systems have failed.

Even China, a supposedly communist system of government is in effect capitalist.

There will always be people who bitch about how unfair capitalism is when most of the time its because some people are just better at getting ahead than others.

So yeah, life is unfair but capitalism is fairest to those who drag everyone else out of poverty.

[Lil Endian]

Incorrect: Re: Nope, the poor don't get poorer under capitalism.

Well done for missing the obvious tongue-in-cheek poke at generalised capitalism and a piss take of a whinging $Corp.

Sorry but you're wrong - also because you generalised. Capitalism in and of itself is not the social economic messiah, it's how it's wielded by TPTB. For example:

USA & UK - Gini Coefficient is rising.

Japan & France: Gini Coefficient is falling.

[chasil]

Acquisition

Global Foundries has failed to deliver advanced process nodes beyond 14nm (despite contractual obligations to do so).

They have pursued litigation against IBM for the 2nm GAA research, and otherwise do not appear to be as productive as their peers.

The best outcome might be if they ended up inside of Samsung. That would solve most of the problems.

[Kev99]

And how many millions or billions has Global Foundries glommed off the federal, state & local taxpayers? During my 20+ years reviewing tax incentives, very, VERY seldom did the companies coming to us hat-in-hand need the tax break. Such as Ford wanting $125,000 tax break to expand an existing plant when its alternatives were France & Brazil. Or KAO wanting even more to expand its Jergens plant. Personally, for every cent/pence/sen/fen/etc given as tax breaks should be levied as tax at the national level.

[Groo The Wanderer]

A lot of American companies are subject to this delusional thinking that they're "owed" an exclusive lock on technology and other markets. They CLAIM to be "capitalists" - until someone does it better and steals their business.