As the world’s largest trading bloc, the EU is scrambling to maintain its position on international markets and increase its competitiveness. The rise of the BRICS, the re-direction of US attention towards the Pacific and the protracted Eurozone crisis have substantially weakened the European Union’s international profile. By 2015, shifts in trade flows will mean that 90% of global trade will be generated outside of the EU, mainly in Asia.
Against this background, the European...
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