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The future of CAI

Untangling the politics behind the EU – China Comprehensive Agreement on Investment Recent sanctions and counter-sanctions between the EU and China have put the future of the Comprehensive Agreement on Investment (CAI) in doubt. Where do the parties go from here? In this episode of the Sound of Economics, Bruegel Director Guntram Wolff is joined by Mikko Huotari, Executive Director of MERICS – Mercator Institute for China Studies, to talk about the future of the agreement, the geopolitics at...

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The EU-China investment deal may be anachronic in a bifurcating world

Ultimately, only time will tell if this landmark trade agreement will be productive and counter the potential bifurcation of international value chains. After more than seven years and 35 rounds of negotiations, the European Union finally reached a deal with China on the Comprehensive Agreement on Investment (CAI) in December 2020. CAI is intended to replace 25 bilateral investment agreements between EU individual member states and China by offering greater market access within specific...

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Wealth distribution and social mobility

This report explores the distribution of household wealth in the EU Member States and analyses of the role of wealth in social mobility. Abstract This report explores the distribution of household wealth in the EU Member States and analyses the role of wealth in social mobility. Using data from three datasets (the Household Finance and Consumption Survey, the Survey of Health, Ageing and Retirement in Europe and the Luxembourg Wealth Study), it focuses on wealth per household member. Wealth...

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How to extend carbon pricing beyond the comfort zone

Rapid emission cuts need a carbon price for the whole economy. This must be introduced in careful stages.  The European Union has set itself an enormous task: reducing greenhouse emissions by about 40% compared to current levels in only nine years and essentially stopping those emissions by 2050. These targets go beyond the comfort zone of gradual replacement by cleaner alternatives of power plants, cars, planes, factories and heating systems that reach the end of their lifetimes....

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Navigating through hydrogen

Policymakers must address the need to displace carbon-intensive hydrogen with low-carbon hydrogen, and incentivise the uptake of hydrogen as a means to decarbonise sectors with hard-to-reduce emissions. Hydrogen is seen as a means to decarbonise sectors with greenhouse gas emissions that are hard to reduce, as a medium for energy storage, and as a fallback in case halted fossil-fuel imports lead to energy shortages. Hydrogen is likely to play at least some role in the European Union’s...

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To infinity and beyond: the European space sector and industrial policy

A transcription is available for this episode. *Disclaimer: Due to the COVID-19 pandemic, all our podcasts are recorded remotely. We apologise in advance for the sound quality and thank you for your understanding. This is a very special moment for space exploration. The beginning of April will see the maiden flight of the first helicopter to another planet. The Artemis accords will mean that man will be back on the moon before long. The European Space Agency is building Daedalus, the...

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The unequal inequality impact of the COVID-19 pandemic

Less-educated workers have suffered most from job losses in the COVID-19 pandemic, and it is quite likely there was a significant increase in European Union income inequality in 2020. By: Zsolt Darvas Date: March 30, 2021 Topic: European Macroeconomics & Governance The author is grateful for comments and suggestions to conference and seminar participants at Bruegel, Institute of Economics of the Corvinus University of Budapest, Rajk College, and the 15th Conference on Social...

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Financial literacy and the fearless woman

Many gender gaps persist, but an important one that puts women in a very disadvantageous position is the gap in financial literacy. By: Maria Demertzis Date: March 30, 2021 Topic: European Macroeconomics & Governance This opinion piece was originally published in the Money Review section of Kathimerini and is forthcoming in El Economista. In New York’s financial district stands a small bronze sculpture titled the Fearless Girl. The statue was meant to promote female...

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Gender gap in financial literacy: a lack of knowledge or confidence?

“If women and girls are fearless, they will benefit by becoming more financially independent, more financially secure, more in control of their future and society will benefit.” By: The Sound of Economics Date: March 24, 2021 Topic: European Macroeconomics & Governance Women are less financially literate than men. But does this gap reflect a lack of knowledge or a lack of confidence? To find out Maria Demertzis, deputy director of Bruegel is joined by Annamaria Lusardi,...

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Letter: ‘Strategic autonomy’ is now an EU catchphrase

Strategic autonomy should not be an illusionary search for independence, but rather a strategic management of interdependence, based on diversification of supply chains. By: Simone Tagliapietra Date: March 24, 2021 Topic: European Macroeconomics & Governance This Letter was originally published in the Financial Times in response to an opinion by Philip Stephens on supply chain ‘sovereignty’. Philip Stephens’ article “Supply chain ‘sovereignty’ will undo the gains of...

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