Historical turning point for Europe
China DailyWhile EU thinks of 'de-risking' to cope with uncertainties, China and Europe should, instead, coordinate to inject more stability to the world The Future of European Competitiveness report, which was unveiled by the European Commission on Sept 9, stated that Europe faces an "existential challenge".The report believes a deteriorating external environment is hindering the economic growth of Europe, and the three conditions that have underpinned Europe's prosperity — an open global market, cheap energy and a stable geopolitical environment — are eroding, leading to shrinking trade, an energy crisis and security threats. At the heart of the EU's approach to a changing world is "de-risking", which aims to bolster supply chain resilience and protect Europe's economic security. Second, as the Russian development path after the collapse of the Soviet Union lacks appeal among CIS countries, the region has witnessed a growing division in geopolitical security, a trend that has only been exacerbated by the Ukraine crisis. Today's world faces traditional and non-traditional security threats, and an increasingly volatile geopolitical landscape.
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Historical turning point for Europe
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