FROM FAILURE TO FORTUNE - EUROPEAN ELECTRONICS IN A CHANGING WORLD-ECONOMY

European industrial policy for high technology must be reformulated. F irst, past support of producers over users has undermined producers by not creating a sophisticated market, the single most powerful industr ial policy tool. Second, global trade and investment are regionalizing . Policies aimed at rejuvenating sectors such as electronics must cons ider that regionalization will make access to technology and markets i ncreasingly asymmetrical. The concepts of supply base and architecture of supply clarify this understanding. Europe must not just refocus do mestic support but also secure access to the supply bases of the other two regions, America and Asia.