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For @AIGemea #GlobalTradeSeries 2020 I had the pleasure of talking to @ignaciobercero & @elvirefabry abt the EU’s trade strategy amid US-Chinese tensions, Covid19, & how the EU can avoid the lure of protectionism & build domestic support for trade.
Key points below.
THREAD
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Key points below.
THREAD
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In response to Covid: “reshoring is unlikely to go very far in the EU”, said Ignacio.
EU too dependent on exports & it’s difficult to localize value chains. But there will be more talk abt strategic stockpiles, diversification of value chains (e.g w Africa) and subsidies.
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EU too dependent on exports & it’s difficult to localize value chains. But there will be more talk abt strategic stockpiles, diversification of value chains (e.g w Africa) and subsidies.
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Ignacio also offered 3 scenarios the EU shd prepare for in light of US-Chinese trade tensions:
1) decoupling,
2) exclusionary trade alliances, tho no decoupling
3) a push for WTO reform.
The EU prefers option 3, obvs.
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1) decoupling,
2) exclusionary trade alliances, tho no decoupling
3) a push for WTO reform.
The EU prefers option 3, obvs.
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