Europeans like to believe that the European Union (EU) has the collective economic size and capacity to determine its economic destiny. But because the EUs economic interests and geopolitical ambitions are not clearly delineated, China and the United States increasingly call the EU’s ability into question. In this report for Bruegel, Mark Leonard, Jean Pisani-Ferry et al examine problems that China and the US pose for European economic sovereignty, and consider how the EU and its member states can protect their sovereignty in several areas, including state aid to domestic industries, competition policy, investment screening, export controls, the international role of the euro, the role of European development banks, the European payments infrastructure and the global governance system. In each area, the authors suggest how to improve the EU’s capacity to wield economic power, without advocating increased protectionism or a retreat from globalisation.
http://bruegel.org/wp-content/uploads/2019/06/PC-09_2019_final-1.pdf

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