2023.10.12

• Europe & Americas
• Economic Security

European Union being shaken by geoeconomic changes (Geoeconomic Briefing)

Discussions on economic security began in earnest in Japan and the United States during the COVID-19 pandemic, but the momentum was not so high in Europe. This was because the issue of economic security has been taken up by Washington and Tokyo mainly as a way to respond to Beijing’s economic coercion and concerns over excessive dependence on China. Countries that regard China as a national security threat or a rival in terms of strategic competition were forced to think of measures to fight coercive economic statecraft. Meanwhile, it had been rare for European countries to recognize China as a security threat due to their geographical distance. Rather, Europe had been eager to build economic ties with China as a top trading partner with a massive market.