Europe, once the world’s economic powerhouse, is now facing major challenges that threaten its dynamism and influence. While the USA and China continue their technological and economic race at breakneck speed, the European Union seems to be moving at cross-purposes. The digital revolution, renewable energies and strategic innovations are putting these giants in the lead, while Europeans are struggling to keep pace. In his report to the European Commission at the beginning of September, Mario Draghi warned us: “Either we act, or it will be slow agony [for Europe]”.
Why have we stalled? Between complex internal policies, insufficient investment in new technologies and fragmented economic initiatives, Europe is weakening in the face of global titans. What’s more, the return of economic protectionism is further accentuating Europe’s isolation. While the United States adopts drastic measures such as the Inflation Reduction Act, China favours its national champions, and other powers engage in a form of economic withdrawal, the European Union remains the only one to strictly follow the rules of international trade.
This adherence to trade agreements, while in line with its multilateralist principles, places Europe in a weak position in an era of increasingly fierce competition. Is this choice tenable in the long term in an increasingly fragmented world? Can Europe still play a leading role in a rapidly changing world?
Organizers
