THE BIG READ: RULES OF ENGAGEMENT


A


t the beginning of the 21st century, technological, geopolitical and societal factors, complemented by


exogenous shocks and crises such as the Covid-19 pandemic, have brought about rapid structural change in the economy. For most companies across most industries, the pace and scale of the associated adjustments pose a significant challenge.


At the same time, the upcoming transformation is developing into a global race in which market shares are shifting and market structures are being reshaped. It’s clear that, in free markets, the better idea and the successful orientation of the business model should decide the competition. However, this only applies if the framework conditions are as equal as possible for all market participants.


Is this currently the case, or are European companies now confronted with a series of locational disadvantages? Should Europe ensure equal opportunities for its companies, and if so, how? And what


contribution can European financial institutions make? What strategic options are there to ensure Europe’s sovereignty in important areas such as data and payments? How should Europe position itself in a bipolar world dominated by the US and China?


In order to ensure the long-term competitiveness of European companies, these questions must be answered swiftly and a decisive game plan for the coming years must be defined. The respective strategies and tactical approaches of the other major economies should be taken into account.


Royal flush? Imagine a poker game between the US, China and Europe. The US is clearly the chip leader; it has the most chips on the table, which allows it to play with complete confidence. It studies the facial expressions and behaviour of the other two players, uses all the tricks, bluffs, and sometimes goes all-in to force a


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