More like "free market competition with state intervention".
Speaking of which, Europe needs to get moving. Europe badly needs local factories and ideally local companies building advanced chips.
Yeah, Europe will again fall behind in tech, especially sine we're currently busy withering a war on our borders, rampant inflation, and an energy crysis.
We have some local companies that are suppliers to the semi industry like Zeiss, Asml, Trumpf.
Intel is investing €17 billion in a new fab development at its Leixlip campus. With this new fab we double the manufacturing capacity available in Ireland and enable the production of Intel 4, the company’s most advanced process technology.
Probably the US would be substantially less interested in defending Taiwan if TSMC was not there.