IDEAS home Printed from https://ideas.repec.org/a/eee/jpolmo/v45y2023i4p833-847.html
   My bibliography  Save this article

The European Union in the age of slowbalisation

Author

Listed:
  • Della Posta, Pompeo

Abstract

The global financial crisis of 2008/09 is generally regarded as the beginning of a slowdown in the process of economic globalization, what has been called slowbalisation. As a consequence of the changed geopolitical climate, the EU is now encouraging the reshoring (or the nearshoring) of certain activities and is pursuing an active industrial policy in critical sectors where it feels vulnerable. I argue that perceived geopolitical threats could act as a catalyst for a deeper degree of integration (as has always been the case at critical moments in the past), as the EU will only be able to muster the resources to succeed in its endeavor if it moves more decisively towards a political union. In turn, the resulting stronger EU, with its institutions, history and values, could play a stabilizing role in the global context, helping to keep the confrontation between countries and regions within physiological economic boundaries.

Suggested Citation

  • Della Posta, Pompeo, 2023. "The European Union in the age of slowbalisation," Journal of Policy Modeling, Elsevier, vol. 45(4), pages 833-847.
    • Handle: RePEc:eee:jpolmo:v:45:y:2023:i:4:p:833-847
    DOI: 10.1016/j.jpolmod.2023.07.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0161893823000741
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jpolmod.2023.07.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pol Antràs, 2019. "Conceptual Aspects of Global Value Chains," NBER Working Papers 26539, National Bureau of Economic Research, Inc.
    2. Pol Antràs, 2020. "De-Globalisation? Global Value Chains in the Post-COVID-19 Age," NBER Working Papers 28115, National Bureau of Economic Research, Inc.
    3. Pol Antràs & Alonso de Gortari, 2020. "On the Geography of Global Value Chains," Econometrica, Econometric Society, vol. 88(4), pages 1553-1598, July.
    4. Sergio Mariotti, 2023. "Competition policy in the new wave of global protectionism. Prospects for preserving a fdi-friendly institutional environment," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 50(2), pages 227-241, June.
    5. Antrà s, Pol, 2020. "De-Globalisation? Global Value Chains in the Post-COVID-19 Age," CEPR Discussion Papers 15462, C.E.P.R. Discussion Papers.
    6. Yadong Luo, 2022. "Illusions of techno-nationalism," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(3), pages 550-567, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Raphael Lafrogne-Joussier & Julien Martin & Isabelle Mejean, 2023. "Supply Shocks in Supply Chains: Evidence from the Early Lockdown in China," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 170-215, March.
    2. Marta Bernasconi & Sara Galetti & Valeria Gattai & Piergiovanna Natale, 2022. "Contract Incompleteness and the Boundaries of the Firm in Times of COVID-19," Journal of Industry, Competition and Trade, Springer, vol. 22(3), pages 371-409, December.
    3. Martin, Julien & Mejean, Isabelle & Parenti, Mathieu, 2020. "Relationship stickiness, international trade, and economic uncertainty," CEPR Discussion Papers 15609, C.E.P.R. Discussion Papers.
    4. Konstantins Benkovskis & Jaanika Meriküll & Aurelija Proškute, 2024. "The transmission of trade shocks across countries: firm-level evidence from the Covid-19 crisis," Bank of Estonia Working Papers wp2024-1, Bank of Estonia, revised 23 Feb 2024.
    5. Simola, Heli, 2021. "The impact of Covid-19 on global value chains," BOFIT Policy Briefs 2/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
    6. Altenburg, Tilman & Brandi, Clara & Pegels, Anna & Stamm, Andreas & Vrolijk, Kasper & Zintl, Tina, 2021. "Does COVID-19 change the long-term prospects of latecomer industrialisation?," IDOS Discussion Papers 32/2021, German Institute of Development and Sustainability (IDOS).
    7. Johnson, Robert C. & Moxnes, Andreas, 2023. "GVCs and trade elasticities with multistage production," Journal of International Economics, Elsevier, vol. 145(C).
    8. Gnangnon, Sèna Kimm, 2023. "Effect of Aid for Trade on Recipient-Countries' Participation in Global Value Chains," EconStor Preprints 279713, ZBW - Leibniz Information Centre for Economics.
    9. Bartesaghi, Paolo & Clemente, Gian Paolo & Grassi, Rosanna & Luu, Duc Thi, 2022. "The multilayer architecture of the global input-output network and its properties," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 304-341.
    10. Federico Esposito, 2017. "Entrepreneurial Risk and Diversification through Trade," Working Papers w201714, Banco de Portugal, Economics and Research Department.
    11. Lionel Fontagné & Ariell Reshef & Gianluca Santoni & Giulio Vannelli, 2024. "Automation, global value chains and functional specialization," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 662-691, May.
    12. Abdulkareem Alhassan & Joshua Dzankar Zoaka & Salim Hamza Ringim, 2021. "Africa as headwaiter at the dining table of global value chains: Do institutions matter for her participation?," African Development Review, African Development Bank, vol. 33(3), pages 560-576, September.
    13. Allub, Lian & Aragon, Nicolas, 2023. "Asymmetric effects of trade and FDI: The role of country size and bridge multinational production," European Economic Review, Elsevier, vol. 160(C).
    14. Godinho, Manuel Mira & Simões, Vítor Corado, 2023. "The Tech Cold War: What can we learn from the most dynamic patent classes?," International Business Review, Elsevier, vol. 32(6).
    15. Clò, Stefano & Marvasi, Enrico & Ricchiuti, Giorgio, 2023. "State-owned Enterprises in the global market: Varieties of government control and internationalization strategies," Structural Change and Economic Dynamics, Elsevier, vol. 64(C), pages 25-40.
    16. Federico Huneeus & Kory Kroft & Kevin Lim, 2021. "Earnings Inequality in Production Networks," Working Papers Central Bank of Chile 907, Central Bank of Chile.
    17. Vanessa Alvariez & Michele Fioretti & Ayumu Ken Kikkawa & Monica Morlacco, 2022. "Two-Sided Market Power in Firm-to-Firm Trade," Working Papers hal-03795736, HAL.
    18. Pan, Xiameng & Sun, Chang, 2024. "Internal migration, remittances and economic development," Journal of International Economics, Elsevier, vol. 147(C).
    19. Hempfing, Alexander & Mundt, Philipp, 2022. "Tie formation in global production chains," BERG Working Paper Series 181, Bamberg University, Bamberg Economic Research Group.
    20. Johannes Boehm & Ezra Oberfield, 2020. "Misallocation in the Market for Inputs: Enforcement and the Organization of Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 2007-2058.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jpolmo:v:45:y:2023:i:4:p:833-847. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505735 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.