Europe Dwarfed by Media and Low Self-confidence

Aiginger, Karl (2020) Europe Dwarfed by Media and Low Self-confidence. Journal of Economics and Public Finance, 6 (2). pp. 125-137. ISSN 2377-1046

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Abstract

This article rejects the dominant assertion that the world will become bipolar, with the sole remaining superpower USA as the retreating pole and China as the upcoming power on the road to leading in the new world order. We counter that forecasters should not forget Europe. In its geographical borders, it is currently leading in several quantitative and qualitative dimensions such as exports, quality manufacturing, life quality, and life expectancy. If the EU joins forces with countries already affiliated or looking for closer ties, and acts in a more coordinated manner across its members, it can be a partner of the US and China on a level playing field. This fact is currently ignored by international media and analysts. The article ventures to carve out some policy changes, which could increase Europe’s leverage. The new world order will not arise in a linear way and new middle powers will exist alongside the strongest actors: China, Europe, and the US.

Item Type: Article
Keywords: new world order, polarization China vs USA, underestimating Europe, quality leader EU
Version of the Document: Published
Depositing User: Gertraud Novotny
Date Deposited: 15 Jan 2021 11:20
Last Modified: 15 Jan 2021 11:20
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/98534/
URI: https://epub.wu.ac.at/id/eprint/7950

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