Regulation and Geopolitical Climate

For decades, confident in the attractiveness of its internal market and proud of its values, Europe has positioned itself as a champion of inclusive, responsible and sustainable regulation. For many policymakers, as well as civil society and even industry players, regulatory frameworks were seen as desirable not only for European citizens, but also for those in the rest of the world. The idea was that sooner or later the European example would be followed, either because foreign governments wanted to implement tried and tested solutions or because transnational companies had an interest in complying with the strictest framework, as long as it was unified. This was referred to as the ‘Brussels Effect’.

The rise in geopolitical tensions and the resulting need to restore Europe's technological and industrial competitiveness seem to be changing the situation. Similarly, the resurgence of trade conflicts puts the European Union in an awkward position, as its regulations can be seen as non-tariff barriers and challenged in aggressive trade negotiations.

The international climate is therefore prompting the Union and its Member States to question the sustainability of its regulatory frameworks and, consequently, the need to adapt them or rethink how they are implemented. Beyond that, and after an era of convergence of economic models and international cooperation, the question of international economic governance arises. Should we expect irremediable fragmentation around a few regional poles that are completely isolated from each other, or is cooperation still possible?

These issues are obviously central to public policy and corporate strategy. They also challenge our academic frameworks of thought.

To discuss these issues, we will welcome stakeholders involved in digital transformation, ecological transition, and banking and financial regulation, as well as all of the Chair's partners.