At the recent Trento Economics Festival, a prominent public economic forum in Italy held in the northern city of Trento, numerous European figures from politics, business, and academia gathered. Several sessions focused on China's economy within the context of global changes, discussing topics ranging from industrial competition among the US, China, and Europe to green transformation, and from the restructuring of global value chains to adjustments in the international order. Against a backdrop of rising global economic uncertainty and spillover geopolitical risks, the resilience of China's economy was a hot topic. Many participants believe Europe and China should continue to expand their cooperative space.
"China's economy is a vital component of the global economy," said Marco Butti, a former senior economic official of the European Commission. He noted that China's economy demonstrates remarkable growth and innovative capabilities while actively addressing new challenges in the technology sector. In Butti's view, China is at the forefront globally in several fields, including artificial intelligence, and regards green transformation as a key development direction. Amid an increasingly complex and risky global economic environment, China can not only play a role in green transformation and the supply of global public goods but also has opportunities to collaborate with Europe based on multilateralism and rules.
In recent years, "resilience" has become a frequent term in European economic policy. EU-related documents and the "Report on European Competitiveness" authored by former European Central Bank President Mario Draghi identify supply chain security, key technologies, energy costs, and innovation capacity as crucial factors affecting Europe's economic security and long-term competitiveness. Against this backdrop, Europe's observation of China's economy is also a search for stabilizing forces amidst global economic turbulence.
Massimo D'Alema, former Prime Minister of Italy and President of the Fondazione Italianieuropei, stated that despite impacts from geopolitical conflicts and slowing international trade, China's economy continues to grow steadily, offering development opportunities to other parts of the world. China is an important economic partner for Europe, and both sides should expand common interests through pragmatic cooperation.
Kerry Brown, Director of the Lau China Institute at King's College London, believes that understanding China's economic resilience requires viewing it within the broader context of global industrial chain restructuring, technological competition, and changes in the international order. Europe's focus on China's economy now extends beyond mere growth performance; it also reflects Europe's reconsideration of economic security, industrial stability, and space for international cooperation.
The forum also addressed topics such as "A Comparison of Industrial Economies: US, China, Europe." Participants noted that the global economy is undergoing profound transformation, with long-established balances being reshaped.
Giovanni Tria, former Italian Minister of Economy and Finance, remarked that China's long-term emphasis on education and talent development has positioned it at the forefront in many technological fields. Possessing a large pool of high-quality talent and strong financial resources are important structural factors supporting China's medium- to long-term economic resilience.
In Tria's view, the global industrial competition landscape is changing, with different economies having their own advantages. China has strong support in areas like talent cultivation and industrial systems, while Europe is also contemplating how to better leverage its market and institutional strengths to enhance its appeal to capital and talent.
Europe's focus on China's economy is also related to its own industrial strategy repositioning. Information from the Trento Economics Festival website indicates that Europe is considering how to shape its own development path and build an industrial vision based on competitiveness, resilience, and strategic autonomy.
Against the backdrop of intertwined global climate governance, energy security, and industrial upgrading, the green economy is increasingly becoming a key component of industrial competitiveness and economic resilience. Tria noted during the meeting that for China, green transformation is not merely about changing energy production methods but involves a comprehensive economic transformation encompassing production, consumption, and capital renewal. Europe and China have broad cooperation potential in areas like green technology, industrial upgrading, and energy transition.
Participants agreed that amid intensifying industrial competition, both sides need to manage differences and expand cooperation space through dialogue.
Butti stated that Europe and China can collaborate as partners in addressing climate change and green transformation, jointly promoting the establishment of a fairer, rules-based international order.
D'Alema emphasized that Europe and China should develop economic cooperation based on common interests. He said that enabling China's growth to become a development opportunity for other parts of the world aligns with the common interests of both China and Europe.
Multiple attendees expressed that against the backdrop of rising global economic uncertainty, China's stable economic growth and transformation capabilities provide more certainty for global industrial chain stability, green transformation, and multilateral cooperation. Facing trade frictions and industrial competition, Europe and China should expand cooperation space in areas such as green transformation, the digital economy, technological innovation, and global governance.