By Gustaaf Geeraerts
Geopolitical shifts are engendering a transformation of the globalized economic order that has flourished in the post-Cold War period. This trend runs deep and raises structural challenges, – such as the rivalry between different economic models, the competition for technological leadership as well as control over physical and digital connectivity. As the European Union (EU) now accounts for a lower share of world trade, investment, currency holdings, defence expenditure, and development assistance, this shift has also produced growing concerns about the EU’s relative decline and its future economic security.
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