While it is too early to confirm the depth and the sustainability of this new trend towards slower globalisation, it may be happening in more domains than we are fully aware of, at least for the near term given the renewed backdrop of the Russia-Ukraine war and the wider use of sanctions globally.

Europe’s position as the most important economic area in the world is gradually being challenged by China and other regional powers which have been growing faster than the EU in the last 20 years. An economic and political power shift is taking place. How can Europe best cope with this challenge?