After a rough 2019, the consensus for the global economy in 2020 was a recovery, albeit modest, based on seven consecutive years of growth. The European Commission had forecasted it expected this to continue with 1.4% in 2020 for the European Union.
However, 2020 is turning out to be a major challenge for the global economy with the coronavirus. On top of that, Europe also faces the Brexit divorce, growing protectionism and discontent, climate challenges, and a possible new financial crisis. Trade tensions between Washington and Beijing are also expected to spread further across Europe, and could prevent some major projects or buyouts from taking place. Economists also expect the United States to pull Britain into its corner for support to win ongoing trade disputes with other European countries.
However, the EU is still a staunch defender of multilateralism and seeking global compromise, an approach that is being tested daily. How can it navigate an increasingly protectionist and unilateralism policies, and what impact will this have in Europe's growth?
The Chamber's Europe Committee will organize a series of Post-Brexit Webinars to help members understand what is happening in Europe and how businesses might be affected. In this webinar, the Chamber has invited Johannes Hack, Chief Executive of Hong Kong Branch, General Manager of North Asia, DZ Bank AG, to share his economic forecast for the continent. He will be joined by Dr Roland Vogt, Associate Professor of European Studies, The Hong Kong University, who will analyze the impact of the U.K. Brexit and political developments.
Register today to get a better understanding of what to expect for the European region!