The European Union (EU): a trade superpower?

Résumé du document

Europe is obviously one of the largest concentrations in economic power in the global arena. It possesses all the cultural, natural and historical assets to rise as a fundamental actor in the world economy. Thus, by forming a regional organization in order to cooperate, the member states have triggered a dynamic progress towards the European Union's completion inside the economic global sphere. In fact, although the EU is at heart, a political project, its scope throughout its construction was merely economic. As a matter of fact, economic integration proves more appealing, by merging interests together, everybody wins. However, a superpower, according to the Oxford English Dictionary, is a state 'which has the power to act decisively in pursuit of interests which embrace the whole world'. We can question ourselves on the ability of the EU to stand face to face with the US (an obvious trade superpower), and foster its interests on a worldwide scale. How and with what efficiency does the European Union impose itself on the economic world stage? The EU has built both an efficient and united trade policy on one side (I), and a useful network with the rest of the world on the other (II). This completion allows branding the European Union as a trade superpower.

Extraits

[...] The A 10 seems to encourage liberalism and the new generation seems eager to enjoy economic freedom. b. The EU vs. the US: in-between partnership and rivalry Together they account for 40% of the world GDP. As the dollar is the global reserve currency, the US accumulated debts that could one day threaten its hegemony. In fact, compared to the US, the major EU economies have low consumer debt, low current account deficits and high savings rates. European Commission president, Romano PRODI said: “there are two poles now: the euro and the dollar”. [...]

[...] These regulations can also take the form of standards. An accumulation of regulations and standards can have several consequences on the EU's position in the world: -either it stops regulating and get more and more liberal to comply with the competition in tax with the other liberal regimes - either it keeps regulating but it gets more and more isolated from the world economy as many products don't fit its standards (too expensive for example) and other economic powers avoid it - Either these regulations expand little by little to the entire world trade. [...]

[...] The European Union a trade superpower? Introduction Europe is obviously one of the largest concentrations of economic power in the global arena. It possesses all the cultural, natural and historical assets to rise to a fundamental actor in the world economy. Thus, by forming a regional organization in order to cooperate, the member states have triggered a dynamic towards the European Union's completion inside the economic global sphere. In fact, although the EU is at heart a political project, its scope throughout its construction was merely economic. [...]

[...] This must not be reduced to a rivalry to supplant America. One must keep in mind the EU's weakness: it does not seem coherent, a two speed Europe exists too: Euroland and the rest? Unclear especially that the newly members have brought the EU some inestimable assets: qualified population, markets, cheap workforce When you compare growth in eastern and western Europe there is no doubt Eastern countries are far more dynamic than western countries. Last some argue that the EU's scheme is what tomorrow governance of the world will resembles. [...]

[...] The, the EU has tight relations with its former colonies (i.e. a massive number of emergent countries that belonged to the British or French empire mainly) Lomé Convention: signed the 28th February 1975 between the European Community and 46 countries from ACP, mainly former colonies. One can distinguish a will in Europe to equalize or overpass the US: the project for a free trade community between Europe and North African countries (the so called Euro-Mediterranean partnership) can be interpreted as a copy of NAFTA whose aim is to include South African countries in the end. [...]