ASSESSMENTS

Amid Rising Geopolitical Risks, the EU Unveils a New Economic Security Strategy

Jun 30, 2023 | 18:59 GMT

EU flags are seen waving in the wind.
EU flags are seen waving in the wind.

(Jorisvo/Shutterstock)

The European Commission has proposed a new strategy that would boost its capacity to bring EU economic and industrial policies in line with the bloc's broader strategic and security goals, but the proposal will likely face pushback from member states reluctant to increase pressure on China and cede authority to Brussels. On June 20, the European Commission presented its first-ever economic security strategy, which, among other things, highlights the need to curb EU member states' exports of highly sensitive technology (like artificial intelligence, quantum computing and advanced semiconductors) and to scrutinize outbound investments that could enhance the military and intelligence capabilities of actors who may use them ''to threaten international peace and security.'' While not explicitly called out by name, China is heavily implied as the main target, as the draft strategy stresses the need to ''de-risk'' the bloc's economic relations -- a concept European Commission President Ursula Von der...

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