Jonathan Hackenbroich (European Council on Foreign Relations (ECFR))
– From China's boycotts, Turkish or Russian threats, to U.S. financial sanctions: The EU and its member states increasingly face economic coercion from China and sometimes even from allies.
– A whole series of states, whose economic weight is increasing, are deeply intertwining economics and geopolitics with the possibility of weaponising economic dependencies.
– The European Union and its member states have few tools to counter economic coercion. The EU's vulnerability threatens its sovereignty and economic openness.
– ECFR has brought together a high-level task force of representatives from the public, private and financial sectors mainly from Germany and France, to analyze 11 instruments and policy options to protect, defend, and enhance European sovereignty in the geo-economic sphere, looking at merits and difficulties that each of them entails.
– The mere existence of such instruments could have a deterrent effect on third countries. Such instruments might therefore be necessary to preserve the EU's economic openness and defend the rules-based international order. But where is the line beyond which the EU itself becomes protectionist and risks fueling a development toward economic warfare instead of deterring it.
Jonathan Hackenbroich (European Council on Foreign Relations (ECFR)) — Pawel Zerka (ECFR) — Philipp Sandner (Frankfurt School of Finance & Management) — Janka Oertel (ECFR)
Virtuall via Zoom
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