The East and the West: Which Economic Model is More Competitive?

06 October 14:00 - 15:00 B Hall 1st Floor

The East-West rivalry is gaining new momentum. According to the World Bank, the economies of East Asia are recovering from the COVID-19 pandemic twice as fast (+7.7%) as those of Europe (+3.9%). A fierce struggle for new markets is unfolding between the two systems. As an example: in 2019, total Chinese investment in Africa amounted to a staggering $110 billion. At the same time, investment from the U.S. steadily declined, reaching the $46.5 billion mark.

Does this mean the global economic center is shifting to the East? How does competition between East and West affect the global economy and politics? What ideology dominates now and do developing countries have a real alternative to the traditional centers of power?

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