Navigating New Geostrategic Challenges. EU-US Cooperation and Italy’s Role
This book provides an analysis of the main challenges and opportunities for cooperation between the United States and the European Union in key sectors, amidst increasing geo-economic rivalry among major powers, and also includes a special focus on Italy’s role within the Euro-Atlantic partnership. The intertwining of economic interests with geopolitical ambitions has led to a growing reliance on trade and investment as strategic tools in the competition between major powers and in the pursuit of geopolitical objectives. In light of these developments, the United States and the European Union have explored new strategies in their respective trade and investment policies, but also worked together to establish closer, often unprecedented, forms of bilateral cooperation. Moving from the assessment of Italy’s role and positioning within the wider geopolitical landscape and its transatlantic ties, the book analyses the strategic dialogue between the United States and the European Union. The study, in particular, focuses on the limits and the potential of their respective trade and investment policies, in response to the reconfiguration of economic relations and to the growing weaponization of finance and trade. These issues, which are strategic in a context of shifting global powers, increased multipolarity and fragile value chains, are analysed with regard to four macro-themes: industrial policy, control of foreign direct investment, export control of dual-use technologies and materials, and restrictive measures and sanctions.
Volume produced in the framework of the project “La cooperazione economica e tecnologica Ue-Usa di fronte alle nuove sfide geostrategiche e il ruolo dell’Italia”.
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Details
Rome, Nuova Cultura, November 2024, 173 p. -
Issue
12 -
ISBN/ISSN/DOI:
978-88-3365-712-7 ; 10.4458/7127
Contributors, p. 7-8
List of abbreviations, p. 9-10
Introduction, by Federica Marconi, p. 11-14
1. The US-Italy Economic Relation over the Last Decades, by Giuseppe Travaglini, p. 15-35
1.1 Trade and investment in numbers
1.2 The US-Italy economic relation in the long run
1.3 Conclusions
2. Technological Sovereignty: Italy, the EU and the US, by Nicola Bilotta, p. 37-54
2.1 EU technological sovereignty: Looking for an identity in global and transatlantic relations
2.2 EU ambitions for a transatlantic bridge
2.3 Italy: Finding an identity in a global context
2.4 Conclusion
3. Adjusting to New Geopolitical Realities: Semiconductors Industrial Policy in the US and EU, by Fabio Bulfone, Donato Di Carlo, Filippo Bontadini and Valentina Meliciani, p. 55-73
3.1 The status quo ante: Strengths and weaknesses of the US and EU semiconductors value chains compared
3.2 Comparing the US CHIPS and EU Chips Act
3.3 Concluding reflections
4. Foreign Direct Investment and National Security: Perspectives from the EU and the US, by Federica Marconi, p. 75-99
4.1 The rise of geo-economic tools
4.2 FDI screening in the United States
4.3 FDI screening in the European Union
4.4 Conclusions
5. A Tale of Two Systems: Alignment, Divergence and Coordination in EU and US Dual-use Export Controls, by Mark Bromley and Kolja Brockmann, p. 101-117
5.1 US export controls
5.2 EU export controls
5.3 Comparison of key aspects
5.4 Transatlantic cooperation
5.5 Conclusions
6. How Targeted Measures Are Changing the Global Economy: Three Scenarios for the Future, by Francesco Giumelli, p. 119-133
6.1 Sanctions in contemporary perspective
6.2 The triggering causes of sanctions
6.3 Emerging challenges from the imposition of sanctions
6.4 Conclusions: Three scenarios emerging from the fragmentation of the global economy
7. Transatlantic Cooperation on Data Governance and Digital Infrastructures, by Francesca Maremonti, p. 135-149
7.1 The trajectory of transatlantic data governance
7.2 From data governance to digital infrastructures
7.3 Avenues for cooperation
7.4 Policy recommendations
8. Potential for EU-US Coordination on Diversification and Resilience of Supply Chains, by Manuela Moschella, p. 151-165
8.1 Securing global supply chains
8.2 The EU and US approaches to securing global supply chains
8.3 Potential for coordination and conflict
9. Conclusions, by Riccardo Alcaro, p. 167-173