The Return of Borders in the World Economy: An EU-Perspective

As the European Union (EU) grapples with increased external and internal trade barriers, it stands at a crossroads. This paper examines the EU's changing perspective on globalization, reflecting a shift from its traditionally open, rules-based trade policy. The rise of internal protectionist measures, coupled with increasing economic insularity in the US and China, are challenging this policy. The study advocates revitalizing the EU's internal market and fostering robust international trade policies, contrasting this with the current trend of implementing various types of selective industry support. It further underscores the EU's heightened responsibility in global trade liberalization, emphasizing the urgency for new trade agreements, particularly with the US, and a reinvigorated role for the WTO. This examination, set against the backdrop of evolving US and China trade dynamics, is pivotal to understanding the broader theme of the book, charting the historical trajectory, drivers and implications of changing global perspectives on borders and globalization.