The EU–China–US Triangle in 21st Century Geopolitics and its Impact on Eurasian Cooperation Dávid Szabó – Nóra Anna Sándor – Péter István Szabó The rivalry between China and the US in the 21st century has become a principal paradigm in international relations, which has a profound impact on the dynamics of multilateral cooperation. The struggle between the two great powers also concerns the European Union, which needs to take today’s megatrends into account, such as sustainable and green growth and digitalisation, while harmonising the advantages and challenges arising from Asia’s increasing global clout on the one hand, and US President Joe Biden’s Europe-centric foreign policy approach focusing on restoring the strength of transatlantic relations on the other. It is vital for the European Union to maintain healthy and stable political and economic relations with China due to its own economic interests and its belief in, and vision of, multilateralism and rule-based international order, but it also has to strike a balance in its relations with the US. On account of the dependencies in the global economy, complete independence or ‘breaking away’ from China is not an option in the turbulent economic times of the 21st century. Instead of confrontation and division, the opportunities for cooperation should be used and enhanced to improve competitiveness. Journal of Economic Literature (JEL) codes: F3, F5, F6, N7 Keywords: international relations, international economics, European Union, United States, China, Eurasian cooperation, green development, digitalisation Dávid Szabó is Head of Department of the Magyar Nemzeti Bank (MNB), the central bank of Hungary. Email: szaboda@mnb.hu Nóra Anna Sándor is an International and ESG Advisor of the Magyar Nemzeti Bank (MNB), the central bank of Hungary. Email: sandorn@mnb.hu Péter István Szabó is an International Advisor of the Magyar Nemzeti Bank (MNB), the central bank of Hungary. Email: szabopet@mnb.hu
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