any number of reasons: language barriers, existing American firms anti-competing, smaller domestic markets, less centralisation, and, yes, in some cases, regulation, but, when it comes down to it, it's better to have smaller firms that don't (or less frequently) damage society than larger firms than do, even just from the perspective of wealth distribution.
I think he's saying that, yes, this regulation means that your own companies are more ethical, but European consumers end up using these less-regulated American companies anyway. this is true, but this problem has started to be solved by the EU anyway, for example, with the Digital Markets and Services Acts
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