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The European Union in the age of slowbalisation

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  • Della Posta, Pompeo

Abstract

The global financial crisis of 2008/09 is generally regarded as the beginning of a slowdown in the process of economic globalization, what has been called slowbalisation. As a consequence of the changed geopolitical climate, the EU is now encouraging the reshoring (or the nearshoring) of certain activities and is pursuing an active industrial policy in critical sectors where it feels vulnerable. I argue that perceived geopolitical threats could act as a catalyst for a deeper degree of integration (as has always been the case at critical moments in the past), as the EU will only be able to muster the resources to succeed in its endeavor if it moves more decisively towards a political union. In turn, the resulting stronger EU, with its institutions, history and values, could play a stabilizing role in the global context, helping to keep the confrontation between countries and regions within physiological economic boundaries.

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  • Della Posta, Pompeo, 2023. "The European Union in the age of slowbalisation," Journal of Policy Modeling, Elsevier, vol. 45(4), pages 833-847.
    • Handle: RePEc:eee:jpolmo:v:45:y:2023:i:4:p:833-847
    DOI: 10.1016/j.jpolmod.2023.07.006
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    References listed on IDEAS

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    1. Pol Antràs, 2019. "Conceptual Aspects of Global Value Chains," NBER Working Papers 26539, National Bureau of Economic Research, Inc.
    2. Pol Antràs, 2020. "De-Globalisation? Global Value Chains in the Post-COVID-19 Age," NBER Working Papers 28115, National Bureau of Economic Research, Inc.
    3. Pol Antràs & Alonso de Gortari, 2020. "On the Geography of Global Value Chains," Econometrica, Econometric Society, vol. 88(4), pages 1553-1598, July.
    4. Sergio Mariotti, 2023. "Competition policy in the new wave of global protectionism. Prospects for preserving a fdi-friendly institutional environment," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 50(2), pages 227-241, June.
    5. Antrà s, Pol, 2020. "De-Globalisation? Global Value Chains in the Post-COVID-19 Age," CEPR Discussion Papers 15462, C.E.P.R. Discussion Papers.
    6. Yadong Luo, 2022. "Illusions of techno-nationalism," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(3), pages 550-567, April.
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    Cited by:

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    2. Basu, Anwesha & Marjit, Sugata & Veeramani, C., 2024. "Growth gains from offshore outsourcing," Journal of Policy Modeling, Elsevier, vol. 46(1), pages 90-112.

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