An Era of Economic Warfare: Examining the EU's Economic Security Strategy

Amidst Chinese overcapacity in exports and their continued innovation in the industries of the future, the European Commission released a Joint Communication in June 2023 proposing a European strategy for economic security. A subsequent recommendation called for a risk assessment of four technology areas—supply chains, critical infrastructure, technology security, and weaponization risks—with a more fleshed-out strategy being developed with member states.

But what does the European Commission really mean by “economic security” and what will the evolving strategy actually look like? There are many questions surrounding the European Union’s (EU) approach, which go beyond the imprecise definition of the phrase and lack of mention of China. They, in part, involve struggles over the balance of power between the commission and the member states which could hinder implementation of any strategy.

Watch now for an expert panel discussion of Europe’s efforts and the implications for an allied approach to economic security in an era of economic warfare.

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