Globalization is changing and with it the priorities of trade policy. On the one hand, it is the megatrends of demographic, technological and climate change that are changing globalization. On the other hand, there are also political megatrends, such as the rise of geo-economic power politics and the erosion of social consensus on trade and openness, to which EU trade policy must adapt.
How a response to these developments can look like was the subject of an online discussion round with Ignacio Garcia Bercero (Director Strategy and Multilateral Affairs, DG Trade, EU Commission) and Christian Bluth, moderated by Katharina Gnath. This panel was prompted by the publication of Bluth's book, Europe's Trade Strategy for the Age of Geoeconomic Globalization, which was produced during his fellowship at the European University Institute in the first half of 2020 and published by the Centre for Economic Policy Research (CEPR).
Garcia Bercero and Bluth agreed that a new trade strategy must focus on the EU's commitment to a rules-based trading system - this also important to address the trade challenges of climate and technological transformation. Bluth additionally stressed the need for better risk management and the development of defensive measures against possible geo-economic aggression.
The book, "Europe's Trade Strategy for the Age of Geoeconomic Globalization," is freely available as an e-book at the link.
A recording of the event on February, 10th can be found at this link.