Recording available: ISDP-KIIP Webinar: A Strategy to Securitize the Economy? The EU’s Partnerships in the Indo-Pacific
May 21, 2024: The recording of the ISDP-KIIP Webinar: “A Strategy to Securitize the Economy? The EU’s Partnerships in the Indo-Pacific” is now available on ISDP’s YouTube channel.
The economic instability due to the disruption of supply chains post the COVID-19 pandemic has compelled states across the world, including the European Union (EU) and its members to rethink economic security strategies and policies. Soon after, Russia’s brutal invasion of Ukraine resulted in further weakening of the global order, including economic, food, and energy security. This necessitated notions of the “de-coupling” and, recently a much more feasible sounding, “de-risking” for creating new resilient measures, including supply chains, as well as upgrading the existing policy frameworks among the global economies. The EU – which for long seemed like a political bystander – today seems to be in the process of reconfiguring its economic, diplomatic, and foreign policies and outlook.
The following questions were addressed:
- How would the EU navigate geopolitical complexities in the Indo-Pacific to secure its economic interests?
- How effective will the EU’s Economic Security Strategy be as a supportive framework of its Indo-Pacific approach, and in countering the economic influence of other major players in the Indo-Pacific, such as China? In particular, how can it strengthen the EU-Indo-Pacific supply chain connection?
- What partnerships and alliances should the EU prioritize to enhance economic security in the region? How does its Economic Security complement those of its partners like Japan, Australia, India, and ASEAN?
- How can the EU balance its economic interests with its values of human rights and environmental protection in its dealings with Indo-Pacific nations?