In person icon The EU’s Geoeconomic Turn: Reflections on Public Policy

Abstract

The return of great power rivalry and heightened geopolitical and geoeconomic competition puts pressure simultaneously on the international standing and the internal cohesion of the European Union (EU). One of the most consequential outcomes of Ursula von der Leyen’s first mandate as Commission President has been the EU’s “geoeconomic turn”, marking shifting perceptions of risks originating from economic interdependence and asymmetric economic dependencies. Within this context, this panel addresses the various dimensions of this shift in European politics, covering both the public policy and the role played by various stakeholders at the EU and member-state levels. In what concerns the European dimensions of this geoeconomic shift, the panel proposes to explore how European policies are adopted in response to the new geoeconomic and geopolitical environment, especially vis-à-vis the EU’s main competitors, the USA or China. First, we focus on competition policy and how it has been evolving in order to build a regulatory framework that fosters European competitiveness on the global stage. Our case studies rely on the Important Projects of Common European Interest (IPCEI) programme, which we believe is evidence of the relevance of state aid in reinforcing European business's competitiveness. Next, the panel addresses the internal transformations of the EU state apparatus and the policymaking procedures that the geoeconomic turn engendered. Therefore, we examine the role and functioning of three newly developed “geoeconomic” expert groups that the European Commission has set up in recent years. The following paper explores how stakeholders navigate the new balance between economics and security. It assesses whether businesses adopt different lobbying strategies for different European policies labelled as ‘geoeconomic tools’, specifically by juxtaposing the Foreign Subsidy Regulation and the Regulation on Investment Screening. The panel then zooms in to the level of Member States’ policymaking. Amidst the superpower competition, the EU struggles to stretch a path that balances the priorities of its 27 Member States. In this context, we explore how political parties across Member States perceive, frame and respond to the EC’s economic security strategy and related initiatives. Finally, the panel addresses the external dimension of the EU’s geoeconomic turn through one of its most emblematic initiatives, the Global Gateway (GG), the European connectivity strategy, rivalling the Chinese Belt and Road Initiative (BRI). Our first goal is to identify which European geoeconomic objectives the GG seeks to attain, taking economic security as a starting point. Second, we explore whether the GG manifests EU power in the international system.

Title	Details
An EU Geoeconomic Competition Policy: the Case of the Important Projects of Common European Interest (IPCEI)	View Paper Details
The European Commission’s Geoeconomic Expert Groups: Crafting New Spaces for Geoeconomic Policymaking?	View Paper Details
Geopoliticization Through Law or Narrative: Effects on Business Lobbying	View Paper Details
The EU's Geoeconomic Turn: Party Perspectives Across Member States	View Paper Details
European Economic Security Through Connectivity: The Geoeconomic Potential of the Global Gateway	View Paper Details