Analysis of the competitiveness of the European Union in the current global geopolitical and geoeconomic context

Abstract

In the analysis of the contemporary international environment, geoeconomics and geopolitics have a key role in understanding the trends recorded at the level of the world economy in terms of the dynamics of power centers and current reconfigurations, as well as in understanding the behavior of relevant actors in the geopolitical field. In a multipolar world, the European Union represents a pole of power that, through its actions, can significantly influence the balance of power. The various scenarios of the evolution of the world economy under the influence of a number of risk factors influence, to varying degrees, the competitiveness of the European Union. Competitiveness and productivity have been at the heart of European Union policy for decades. Faced with successive recent crises, the European Union has adopted common and coordinated response measures. The launch on June 20, 2023 of the European Strategy for Economic Security represents a concrete form of response of the European Union to the current instability present in global supply chains and, at the same time, represents a strategic repositioning for the future. The paper aims to analyze the developments in terms of the competitiveness of the European Union and, at the same time, to understand how the European Union’s approach to economic security will shape future relations in terms of geopolitics and geoeconomics at the international and regional level. The research methodology uses the logical analysis method, the systemic method, the comparative method, the historical method, and the situation analysis used in geopolitical theory.