March 18, 2015
Over the past fifty years or so geopolitics has not very often come to have a big influence over major economic decisions in the Western world. Case in point, as President Obama’s speeches have proved it over and over in recent years, American officials are known to dislike geopolitics quite a lot.
On the other side of the Atlantic, European political leaders do factor in geopolitical opportunities and risks in their strategies. This is why the recent decisions of Great Britain, Germany, France and Italy to join China in becoming founding members of the new Asian Infrastructure Investment Bank (AIIB) come as no real surprise to this observer. Washington’s current efforts to block such a development have been likewise predictable, given US policymakers’ tendency to keep and enforce their monopoly over international finance and multilateral organizations such as the IMF, the World Bank and the Asian Development Bank.
By now EU leaders have fully realized not only that the future of the global economy lies in Asia, but also that Europe as a continent is and will always be an integral part of the Eurasian landmass. Investing in Eurasian infrastructure projects makes good geographical and economic sense therefore, and will provide European economies with impetus for growth for decades to come.