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The EU-China Forum on global governance

5 December 2022
 
 

The EU and China facing global change: Energy transition, growth models, and global trends

There is broad consensus in both Europe and China that global economic slowdown is a serious threat, which is complicated by current monetary policy responses to inflation as a result of both the Russia/Ukraine war and the end of the pandemic recession. Given the enormous challenges this poses for economic policies, a multilateral framework for managing problems of such proportions would be to the advantage all countries – advanced, emerging and developing. In reality, however, many of the most recent national choices have gone in the opposite direction, with scarce coordination and unilateral action – starting with the US Fed, whose interest rate adjustments have been especially impactful given the international role of the dollar.