Russia’s war against Ukraine and its consequences have revealed that the European economic model of the last three decades no longer works. We relied on cheap energy from Russia, cheap goods from Asia, cheap security from the US, cheap money from central banks, and the export of expensive advanced technologies to developing regions of the world. The still very Western dominated world order is being replaced by a multipolar world order, where countries have multiple alignments and alliances.

At the end of February, we will publish our study on futures of the European economy. In this study we examine the driving forces that are leading us to a new world order, such as changes in world trade, security policy and new rules of the game on the financial markets. The study provides five scenarios for the European economy in 2045. We have published preliminary results in our analysis “The European Economy in a New World Order”.