Chinese Journal of European Studies

In recent years, the scope and connotation of European economic sovereignty have been constantly expanded, and there has emerged a corresponding “Strategic Autonomy” of European industrial chain action. No matter what is the real rationale behind it—whether it is due to theoretical reflections, changes in the international political and economic structure, or the rise of right-wing populism in Europe, especially the change of the way of thinking triggered by COVID-19—it is a fact that the European countries, including the European Commission, have been pushing forward substantial industrial relocation plans, highlighting the weight of strategic security in order to strengthen and enhance the economic sovereignty of Europe. This will surely lead to the structural reconstruction of the global value chain in the future. The key question is whether Europe is strengthening its economic sovereignty out of strategic security considerations, or it is intended to consolidate and enhance its economic and political discourse in the world? In particular, will Europe choose to be isolated or keep open in the process of shaping economic sovereignty? It will not only have a significant impact on the reshaping model of the global value chain, but also affect the future global political and economic structure and the direction and path of globalization.