The European Union needs to restructure its economic policy in order to have an interest driven approach. The Chinese are willing to work with the emerging economies unlike Europe which is keen on majorly working with United States of America. Europe suffers from internal divisions, giving the Chinese a better competitive chance. The poor coordination between the member states of EU benefits Beijing directly. The euro zone does not depend on the European central bank when it comes to the bonds issue. Rather, it is dependent on various governments. The rise of emerging economies like China and India has an implication to the competitiveness of the EU. The union must have internally robust structures and engage the rising economies in a meaningful way in order to remain relevant.
Regional competitiveness is defined as the ability of a locality to generate sustainable environment and attractive conditions to local residents and firms. Europe was perceived as a source of inspiration by the traditional Chinese revolutionaries. The post revolutionary generation has been looking to United States for the same. The economic interaction between China and Europe has been expanding from 2004. In 2011, the European foreign investment in China reached €17 billion. This was an all time high. The European exports to the Chinese economy are increasingly overtaking imports. In 2009 and 2011, the Chinese investments in Europe tripled to reach €7 billion. The growth was experienced in multiple sectors of the European Union economy. The debt crisis has caused the Chinese to turn to European bonds for investment. This paper discusses the emergence of global competitors and threat to the economic competitiveness of EU. The development of the china-EU relationship The bilateral trade structure There is a lack of a comprehensive reorientation in the way China approaches Europe. This attitude began after the fall of communism (Alon 2009). There is a lack of specific knowledge among the small countries in the EU. This means that some countries do not appreciate their role in the EU and EU-Sino relationships (Crossick & Reuter 2007). The weak or non-existent structures in the EU-China relationships have caused Germany and China to enjoy more trade compared to other European countries. Beijing has found it difficult to develop foreign policy towards Europe (Luo 2010). This is because of the parochial misapprehension and a bilateral trade structure that has suffered to from extreme weaknesses in the previous decades. Research shows a lack of mutual comprehension between China and Europe (Crossick & Reuter 2007). The European products are increasingly gaining access to China. China continues to view Europe as a zone for instability. The member states must assent to any agreements between Europe and China. This means that over 20 countries can influence such decisions through committees. This structure has made the bilateral ties slower to implement. The individual states of European Union come together under the policies on international affairs, human rights and liberalization (Wiessala et al 2009). London has been specifically vocal. A third of the budget of the European Union is spent trying to help China achieve the world trade organization standards (Wiessala et
This paper discusses the emergence of global competitors and threat to the economic competitiveness of EU. It is important for the EU to develop a policy that engages developing economies. The Chinese interest in Africa has redefined trade…
This has far reaching effect not only on the economic policy making of the member countries but also on their political and legal systems. Common policy implementation requires great political integration of the various member states.
It is in this direction that Keegan has come up with the issues of emotion and emergence, describing them as the fourth dimension to be added to the traditional conceptualization of what research is all about. Because learning is a continuous process, it is just appropriate that this claim is carefully scrutinized to see its place in modern day academia.
The author states that despite the dominance of EU and its notable strength as a global superpower, the organization has been experiencing some challenges that have contributed to its decline as a global power. The individual challenges faced by the states separately have had a negative impact on their production systems and economic growth.
Marain (2003:2) during policy analysis of EU enlargement found that the countries becoming the member states are entitled to have numerous benefits which includes removal of barriers from trade, investment and movement of labor, exchange of technological ideas, improvement in competition with foreign markets, corporate accountability, improved CEEC's as a destination of foreign investment, cheaper consumer goods, etc.1 But it had some drawbacks as well.
There is growing competition in the entry into the EU market; which is one of the main areas of expansion after USA. The impact of the international competitiveness has on the state and the social setup in the domestic market. The timely involvement of China's with joining WTO and the favourable impact of the quotas, to strengthen the economic scene.
ases can be misleading as global generally means ‘one world’ whereas international can be construed to different languages, people, cultures, borders, economies, and even ecosystems (Patapan, 2007). It has been clear that the new commercial reality for the new world is the
The definition of a global superpower attracts a lot of controversy. A global power can be defined as a country that can be regarded as large and having a wealth of many resources. The population of a global superpower is also large, and it has a strong economic base, which strengthens the world economy.
For example, many researchers examined the EU as a “transformative” power (Leonard, 2005), a “post-modern power” (Cooper, 2003)¸ a “civilian power” (Telo, 2007), an “ethical power” (Aggestam 2008), a “soft power”
McDonald’s constitutes the leading global foodservice retailer. It has a vast network of restaurants, approximately 35,000, which serve around 70 million people in 100 countries every day. The business of
5 pages (1250 words)Essay
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you another Essay on topic Impact of Emergence of Global Competitors on EU for FREE!