The Demise of the Global Market Economy and the Rise of a two-sphere World

There is a perceived growing divide between a Western and an Eastern sphere in technology, trade and finance driven both by geopolitics and by trends towards growing national self-reliance. Are we seeing the demise of the Global Market Economy?

Geopolitical tensions have increased lately as EU heads of State and Government have asked for a revision of Europe’s China strategy that, in line with US changing policy, highlights a perceived system rivalry between China and the West and reduces technological and scientific co-operation, calls for the diversification of trade and supply chains, and reduces financial flows. This conference aims at exploring the perception of an emerging ‘new Cold War’ and its potential consequences, especially for Europe.

The areas in which a growing divide is perceived will be investigated in three different sessions: technology and science, trade and supply chains, and financial markets. The final session will discuss the endgame of this two-sphere world.

This event is co-organised by the Department of European & International Studies, King’s College London, and the Centre for Philosophy of Natural and Social Science, London School of Economics (LSE). It is funded by the Department of European & International Studies and the School of Politics & Economics, King’s College London

PROGRAMME

09.30-09.45 Welcome remarks

Dr Vinicius de Carvalho, Vice Dean (International), Faculty of Science Science & Public Policy, King’s College London

LSE representative

 

09.45-11.15 Session 1: Technology and science

Introduction and chair

Professor Ramon Pacheco Pardo, Head of European & International Studies Department, King's College London

Speakers

Professor Kerry Brown, Director of the Lau China Institute, King’s College London

Dr Nana de Graaff, Associate Professor in International Relations, Vrije Universiteit Amsterdam

Yuan Yang, Europe-China Correspondent, Financial Times

 

11.15-11.30 Coffee break

 

11.30-13.00 Session 2: Trade and supply chains

Introduction and chair

TBC

Speakers

Professor Suzuki Kazuto, Professor of Science and Technology Policy, University of Tokyo

Alan Wolff, Distinguished Visiting Fellow, Peterson Institute for International Economics (PIIE), & former Deputy Director-General (2017-21), WTO

 

13.00 - 14.00 Lunch

 

14.15 - 15.30 Session 3: Financial markets

Introduction and chair

Dr Stefan Ingves, former Governor (2006-22), Sveriges Riksbank (Central Bank of Sweden)

Speakers

Professor Engelbert Stockhammer, Professor of International Political Economy, King’s College London

Professor Helen Thompson, Professor of Political Economy, University of Cambridge

Nicolas Veron, Senior Fellow, Bruegel and the Peterson Institute for International Economics (PIIE)

 

15.30-15.45 Coffee break

 

15.45-17.00 Session 4: The endgame

Introduction and chair

Professor Magnus Ryner, Professor of International Political Economy, King's College London

Speaker

Martin Wolf, chief economic commentator, Financial Times