My Take | When US comes calling the Dutch: shame if anything happened to ASML
The Netherlands government is trying to save prized advanced chip machine maker by banning sales of top-line products and services to China to satisfy Washington
Now we know what Jose Fernandez meant when he said the United States had built a global network of friendly allies by offering them moral support, supply chain diversion strategies and new markets from a new “playbook” to protect them from China.
The US undersecretary for economic growth, energy and the environment has a rather Orwellian job title as his bosses seem to be more focused on undermining allies’ growth and destroying their prized companies.
When Washington says it offers allies “protection”, it’s really of the Chinese triad variety that its henchmen such as Fernandez is referring to.
Consider the example of ASML, a Dutch firm that has built a highly profitable monopoly, literally, as it is the world’s only manufacturer of the extreme ultraviolet lithography machines that produce the most advanced chips.
It’s a jewel of the Dutch economy, but it can kiss its business model and profitability goodbye now that Washington has come knocking.
