Geoeconomic Agenda #11 The EU's Geoeconomic Strategy and its Future in the Indo-Pacific with Elli-Katharina Pohlkamp and Timo Blenk
Nov 16, 2023
Elli-Katharina Pohlkamp, a Senior Manager at Agora Strategy Group specializing in European economic policy, and Timo Blenk, the CEO of the same group with expertise in global economic navigation, discuss the EU's evolving economic security strategy. They analyze the growing geopolitical dynamics in the Indo-Pacific, the challenges of member state alignment, and the rise of right-wing movements influencing economic perspectives. The conversation also highlights Germany's strategic engagement with the region, emphasizing opportunities for European businesses in high-tech and finance.
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EU Economic Security Strategy Shift
- The EU's economic security strategy links security with economic relations, marking a historic shift from its open-market tradition due to geopolitical tensions.
- It focuses primarily on minimizing risk rather than competitive measures, reflecting hesitancy to appear anti-market.
EU Private Sector's Divided Response
- EU businesses are torn between reliance on China and the need to secure supply chains due to geopolitical shifts.
- Key industries like automotive and pharmaceuticals lead diversification efforts, though with varied industry and member state responses.
EU-U.S. Economic Dialogue Challenges
- The EU values dialogue with the U.S. but resists pressure that threatens its own regulatory standards and WTO rules.
- Recent failed summit talks reveal EU concerns over losing sovereignty and negotiating compromises that violate trade principles.