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Chinese President Xi Jinping has "China 2025." Now Peter Altmaier, Germany's economy minister, has introduced "National Industrial Strategy 2030."

The backdrop: European regulators yesterday blocked a mega rail merger between Germany's Siemens and France's Alstom despite strong support for the deal from leaders in Berlin and Paris who said it was necessary to fight off competition from China's state-owned rail giant, CRCC. Regulators said the deal would give the new giant a near-monopoly in European markets, where CRCC isn't even a major player at present.

  • However, critics say European "champions" are needed to compete globally in the coming decades.

As the FT's Ben Hall framed things on the World Weekly podcast: "[Altmaier] warned Germany and Europe risked being mere bystanders in the next industrial revolution unless states were able to protect technologically important companies or subsidize research and innovation. But is this protectionism in a 21st century high-tech disguise?”

  • One of Altmaier's proposals — a state investment fund to block takeovers of critical tech companies — "goes against many of the principals Germany has espoused up until now: a completely open free-market economy," the FT's Guy Chazan in Berlin pointed out on the podcast.
  • German political and business leaders were stunned by the 2016 purchase of German robotics firm Kuka by a Chinese company, Chazan said. They're also "absolutely paranoid about losing their global leadership in cars" as the market shifts toward electric vehicles. Thus, Altmaier is calling for a major battery cell factory in Europe.
  • Altmaier's fear: Europe, the "development laboratory of the world," will become the "workbench of our competitors."

What to watch: Axios Future Editor Steve LeVine points out that just as this debate is taking place, European antitrust regulators are taking aim at American tech giants, most notably Facebook. "Here you have the tension — between the antitrust impulse and the champions impulse," he says.

Go deeper ... Monopolies vs. China: Europe debates which presents a greater threat

Go deeper

Kendall Baker, author of Sports
50 mins ago - Sports

College football gone mad

Former Notre Dame coach Brian Kelly walks in front of his players. Photo: David Madison/Getty Images

In the span of two days, the head coaches of two of the biggest college football programs in America have jumped ship, wooed by even greater challenges — and the almighty dollar.

Driving the news: Lincoln Riley is ditching Oklahoma for USC in a deal reportedly worth $110 million. LSU poached Brian Kelly from Notre Dame with a reported 10-year, $100 million contract.

Biden administration makes first move on data privacy

Illustration: Sarah Grillo/Axios

The Biden administration is launching its first big effort on privacy policy by looking at how data privacy issues affect civil rights.

Why it matters: An administration perspective on privacy policy could be key in developing a long-awaited national privacy law by putting the White House stamp on how to regulate privacy.

Axios Investigates

Exclusive: Airbnb hosts Xinjiang rentals on land owned by sanctioned group

Data: Axios research, Airbnb, Australia Strategic Policy Institute's International Cyber Policy Centre; Map: Jacque Schrag/Axios

Airbnb has more than a dozen homes available for rent in China's Xinjiang region on land owned by an organization sanctioned by the U.S. government for complicity in genocide and forced labor, an Axios investigation has found.

Why it matters: The listings expose Airbnb to regulatory risk under U.S. law. They also land yet another American tech company in the crossfire between the U.S. and China.