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ChinaMed Director Enrico Fardella and Michael Pettis (Carnegie Endowment) are authors of the article "How Europe can harness its economic power" for Engelsberg Ideas, explaining how global economic imbalances are reshaping Europe’s economy and why the EU needs a coordinated response to avoid long-term decline.
"In the end, a country’s internal imbalances must mirror its external ones. The more it surrenders control over its external balance, the more its domestic economy is forced to adjust to the industrial policies of its main trading partners. This is the paradox that Europe needs to confront urgently if it is to preserve its integration and maintain global relevance."
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