Those attending this second installment of the Aspen Bosphorus Dialogue embarked on a renewed consideration of the overarching issues stemming from the relationship between the trends unfolding within Europe and the transformations taking place in its neighboring regions.
Opening proceedings at this International Workshop was the observation that complex challenges lie ahead for the world’s three major economic engines, namely China, Europe, and the United States. These challenges stem from the slowdown in global growth and the partial readjustment that this has entailed, but they are also the result of the various internal contradictions or inefficiencies from which each of these players suffers. Indeed, it was stressed that their main policy and institutional choices cannot be separated from those of an economic nature.
The second Aspen Mediterranean Initiative seminar provided the opportunity to widen the network of the region’s emerging leaders as it analyzed the relationship between traditional and new media, and society and politics. Journalists, activists, bloggers and artists all shared their perceptions on the direct influence of communications on political events.
The current financial crisis has thrown into sharp relief the close links that exist between monetary policy, the banking sector, sovereign debt, and serious imbalances within the Eurozone. The vehemence and longevity of the crisis have called into question the very political structure of the European Union as well as its institutional architecture, both in need of modification through a more rigorous application of existing rules, but also by means of the assignment of new responsibilities and the creation of new mechanisms.
The Mediterranean region is very diverse and simultaneously presents elements of close interdependence: the economic crisis of the past few years has shown that each country reacts to the challenges and opportunities on the basis of specific institutional and social features, even in the presence of important contagion effects. The political transitions in some Arab countries, starting with Tunisia and Egypt, confirm these twin tendencies whereby endogenous and local factors interact with regional and international ones.
One of the opening observations at this International Workshop was that the shape of transatlantic relations is gradually changing with the emergence of a new global order, and that an upshot of this process is the opportunity to create a “Southern Atlanticism”, which hinges on extending traditional North Atlantic ties to Latin America (and potentially to some areas of the African continent).
At this talk-debate event held in Rome, it was noted that although twenty years have passed since the publication of the book “Nazioni senza ricchezza, ricchezze senza Nazione” written by Giulio Tremonti, Sabino Cassese, Tiziano Treu and Francesco Galgano, the work remains extraordinarily relevant today, as by the time of its release a rift had already emerged between nations and reality, with the latter – and the problems and opportunities it presented – eluding the material constraints under which the former were forced to operate.
The starting premise for this talk-debate was that the outcome of the recent US presidential elections confirms that social and demographic factors are instrumental in shaping the political atmosphere of the country. In particular, the Democrats were able to tap into support from segments of the electorate that are more dynamic in both an ethno-cultural and generational sense, owing to their deftness in exploiting new communications technologies.
The focus of this international conference was the family-run firm, without question the most widely-used business ownership and organizational structure. It was noted that in Europe and the Anglo-Saxon world, and in the Far East and more recently emergent countries, the family business constitutes – albeit to greater or lesser extents and with marked differences from region to region – a key pillar of the global economy, in the production of wealth as well as in job creation.
Those attending this Aspen Mediterranean Initiative workshop set out to evaluate the impact of the so-called “Arab spring” on the economies of North Africa and on the wider Mediterranean region. The event, which saw the participation of key political and business figures from the northern and southern shores of the Mediterranean, also marked the launch of Aspen Institute Italia’s Mediterranean Program.
The second meeting of the Trialogue series focused on the issues of global economic governance (with special attention to the role of the G20), trans-Atlantic and trans-Pacific links in the security field, and instability in the Middle East region with its possible implications.
The Aspen Mediterranean Initiative participants concurred that the Mediterranean area is becoming even more diverse than it has been in the past, a fact which calls for special attention to be paid to the situation unfolding in various locales in the region, especially at a time of uncertain political transition in which social forces have a potentially crucial role to play.
During this roundtable session, a number of factors were identified as contributing to the volatility in energy, agricultural commodity and food prices, including: the significant increase in demand from the major emerging countries, speculation in derivatives markets (and, more generally, the growing importance of the financial – as opposed to the real – economy), the management of energy production by many governments according to political criteria, and the increasing correlation between the (historically high) volatility of oil prices and that of other commodity prices.
Radek Sikorsky at Aspen Institute Italia. The Foreign Minister of Poland held an off the record seminar at our Institute. The debate focused on the principle themes of European foreign policy and Poland’s priorities for the EU presidency. Sikorsky is the author of a book on Afghanistan which was recently published also in Italy.
This international roundtable, which saw the participation of a delegation from the Chinese Ministry of Foreign Affairs, provided an opportunity to discuss developments in the euro crisis and China’s views regarding the same. The core issue debated regarded the nature of the crisis and the motives behind the speculative attacks against certain countries.
This talk-debate was organized by Aspen Institute Italia to mark the recent publication in Italy (by EGEA) of Kishore Mahbubani’s book entitled The New Asian Hemisphere. During the event, it was observed that with Asia growing at a phenomenal pace, the continent is set to be the key economic player of the next century, yet at the same time it has still to find a stable footing within the international economic and political order.
The Dialogue session got underway with the observation that the world economic recovery has failed to alleviate the social impact of the crisis, with the improving economic situation having no appreciable effect on employment. The participants highlighted that this phenomenon affects both workers in more mature sectors – that is, those most exposed to the consequences of globalization – as well as younger people, who are just entering the labor market.
Given the current uncertainty over the global economy’s recovery, interest in the prospects of the South American continent, which seems finally able to express its true potential, has increased. All too often the expectations over the EU / Latin American accords have been set too high. Today, the increase in commercial and financial exchange are guided by a bottom-up logic; promising forms of interdependence are emerging in a pragmatic way and are producing concrete benefits.
The members of the first panel analyzed the multiple repercussions of the crisis that began in 2008 on the Western economies, as well as on their political systems and societies. The impact has been profound, putting in question the growth model and the sustainability of the welfare state in its current forms. Major tensions have also emerged between short term needs – such as the bailouts – and longer term goals. The very close link between modern states and capitalism, which in the Western world is captured by the expression “market democracy”, has become more evident than in the past.
