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No but competing on a global scale in the computer age yes, no European country is in the same league as America, Japan and South Korea.
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Yes.
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Socialism, as an economic system, is dead and apart from the Eastern Block - we never had any socialist countries in Europe. Europe has free market economies (sometimes even more free than the United States as several Northern European countries don't even have minimum wage laws) with less bureaucracy and more ease of doing business than the United States. Some, like my own country but also Ireland, Monaco and Luxembourg are tax havens for multinationals.
Wake up and smell the coffee.
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This has to do with the way European banking is structured, not with the technology companies themselves.
There are important European products that are used throughout the world, like the Linux operating system (that runs in the background of any Android phone) or ARM processors (found on most phones and tablets). But Europe will not capitalize on these technologies because of its weak banking and investing environment - weak compared to the US or Japan, or even China.
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