January 24th (AMSP/CGTN) – – The World Economic Forum in Davos wrapped up on Friday, concluding a week-long gathering of global policymakers and business leaders. One of the key topics discussed at the Forum was the economic future of Europe.
At this year’s World Economic Forum, one of the spotlights is on Europe’s economic development. Heavyweights like European Commission President Ursula von der Leyen and Ukrainian President Volodymyr Zelenskyy delivered key speeches and led discussions.
First of all, those leaders and industry insiders emphasized how Europe’s economy is navigating the shifting global order. The rise of economic protectionism, particularly under Trump’s “America First” policies, has reshaped global trade dynamics. They called for Europe to become more self-reliant, especially in securing its energy supply, diversifying resources, and reducing reliance on external powers like Russia.
Secondly, they highlighted the need for Europe to modernize its internal market. They said Europe’s capital markets are underdeveloped compared to the US, leading to the outflow of European savings. They hoped to empower tech startups and clean tech sectors, ensuring they have the resources to thrive.
Thirdly, Europe is seeking cooperation with other regions. Von der Leyen said this approach contrasts with Trump’s transactional policies, which focus on immediate, individual gains. Europe is positioning itself as a partner for nations interested in clean technologies and digital infrastructure, even as the world now is facing the challenges of protectionism and shifting power dynamics.
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