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Security interests and trade policy: Upheavals in the global economy require adjustments
Learn how Germany can use its economic policies as a weapon to protect security interests in a turbulent international environment. With a view to upheavals in the global economy.
Security interests and trade policy: Upheavals in the global economy require adjustments
The global economy is currently experiencing a profound upheaval that is comparable to the industrial revolution. The two central challenges, namely decarbonization and digitalization, are of enormous importance. This shift is leading to major changes in trade flows, value chains, interdependencies and the distribution of wealth. For a long time, coal, oil and gas were consistently available on global markets as essential raw materials, especially after the fracking revolution in the USA. The Western, democratic world had control of sea routes and technological leadership.
However, a lot has changed in the recent past. The most important raw materials for digitalization, the energy transition and electromobility are now concentrated in China. The capacities for the production of battery and photovoltaic cells are also located there. Taiwan, on the other hand, has the most comprehensive skills when it comes to high-performance semiconductor chips. However, it is important to note that China still views Taiwan as a renegade province and even sees it as threatened.