Transatlantic Free Trade?
The international order's center of gravity is shifting to Asia, but Europe and the US can act to ensure their global roles. A transatlantic free-trade area would give both economies – still the world's largest – a significant dose of confidence, while boosting competitiveness, growth, and job creation.
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MADRID – This month, the United States National Intelligence Council released a sobering report entitled Global Trends 2030: Alternative Worlds. Most important, according to the authors, if current trends continue, Asia could soon surpass North America and Europe in global power. It will have a higher GDP, larger population, higher military spending, and more technological investment. In this geopolitical context, Europe and the US need each other more than ever, making greater transatlantic cooperation crucial.