July 5, 2023: Bundesbank-IAW Lecture on European Economic Integration at the University of Tübingen
Cecilia Malmström emphasized the tremendous increase in prosperity that international trade has brought to the world as a whole after World War II, but also pointed out that globalization has not been a boon to all individuals in all countries. During the lecture, she reviewed the multitude of crises that have affected world trade in recent years, including the rise of protectionism in many parts of the world, including the United States. She currently sees an increasing politicization of trade that requires a questioning of the current structure of the international division of labor. It does not predict an end to globalization, however, but calls for a reconsideration of the strengths of multilateralism a new form of globalization, taking into account new geopolitical realities and the challenges of climate change.