Falling into Pieces. The EU in the Puzzle of Global Trade

Summary:

The golden age of economic globalization – started at the end of Cold-war –might have come to an end. COVID-19 and the war in Ukraine are among the causes why globalization is apparently slowing down, thus affecting trade flows and growth potentials. Moreover, current geopolitical tensions and US-China rivalry are further putting the resilience of Global Value Chains to the test.

Is globalization here to stay? Will the multilateral trade architecture withstand the crisis? How to make it fit for purpose in a changed international environment? And what role may the European Union (EU), a key trade player, play in all this? This Policy Paper analyses economic scenarios on the future of globalization, and suggests reform proposals on how to improve the effectiveness and resilience of the world trade system.