Yeah, the tech powerhouse seems to refer to the US. There is no doubt that US dominates a lot of tech at the moments, China dominates a lot of manufacturing.
The US is a failing democracy ruled by ruthless liars and capitalists. China's surveillance and lack of freedom is beyond discussion. So EU not being a tech powerhouse still does not look too bad.
The US is a failing democracy ruled by ruthless liars and capitalists. China's surveillance and lack of freedom is beyond discussion. So EU not being a tech powerhouse still does not look too bad.