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In search of a new international order
Thursday 27 May 2021
Market News
Europe cannot stay on the side-lines. However, the EU position is ambiguous, given its close economic ties with the emerging superpower and its historical and ideological relationship with the United States. The EU may play a decisive role in the new world order provided it strengthens and reforms itself to ensure its strategic autonomy. Neither the Unites States nor China will help Europe position itself in the new international order. Nevertheless, China and to a lesser extent the United States, may ultimately be interested in seeing the emergence of a powerful and autonomous economic area in Europe that could act as a bridge, on certain issues, between the two superpowers.
In any case, competition between these nations will be tough. The major blocks must agree on the ‘rules of the game’ to ensure long-term stability and peace.
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