The strike back against economic blackmail
In what circumstances should an Anti-Coercion Tool be triggered? What kind of countermeasures could protect Europe, keep markets open and support a functional global trade order?
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Globalisation and economic interdependence are increasingly weaponised by various state actors. Europe faces ever greater threats of economic blackmail, sanctions against its lawmakers, and consumer boycotts of its companies. Later this year, the European Commission will launch the Anti-Coercion Instrument, a tool that could enable the EU to protect citizens and businesses by countering economic blackmail from China, Russia, and Turkey – and even the US. In what circumstances could such a tool be triggered? What kind of countermeasures could protect Europe, keep markets open and support a functional global trade order? And how can such a tool be both credible and effective?
To find out, host Mark Leonard talks to policy fellows Jonathan Hackenbroich and Pawel Zerka, who worked with the ECFR Task Force for Protecting Europe from Economic Coercion on our latest publication.
Further Reading:
- Defending Europe’s Economic Sovereignty: new ways to resist economic coercion by Jonathan Hackenbroich, Janka Oertel, Philip Sandner & Pawel Zerka
- “Xi, Merkel phone call ‘timely to stabilise ties’” in Global Times
Bookshelf:
- An account of the life of Dick Leonard, who passed away this week, written by his son Mark Leonard
- “Learning Empire: Globalization and the German Quest for World Status, 1875-1919” by Erik Grimmer Solem
- “The passions and the interests: Political arguments for capitalism before its triumph” by Albert O. Hirschman
