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

There is a perceived growing divide between a US-led and an a China-led 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 systemic rivalry between China and ‘the West’ and reduces technological and scientific co-operation, calls for the diversification of trade and supply chains, and reduces international 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 and the Lau China Institute, 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, the Lau China Institute, and the School of Politics & Economics, King’s College London.