European Integration Faces Unprecedented
Challenges
By HE YAFEI
【期刊名称】今日中国：英文版【年(卷),期】2016(000)005【总页数】3
【关键词】一体化;欧洲;世界经济;全球化;地球村CHINA WATCH
THE second half of the 20th century and the first 15 years of the 21st century have witnessed prodigious development of globalization. The rapid expansion of the world economy and the success of European integration, including use of the euro, have raised hopes of the possible building of a “global village.” But globalization has not been smooth sailing. The anti-globalization movement and other associated problems have relentlessly challenged the fundamental philosophy of globalization and its strategic framework. The multiple crises that currently plague Europe seriously threaten both the process of European integration and the survival of the euro; they also challenge the integration of other regions of the world, so affecting the interests of the international community. The coming decade will likely determine the success or failure of globalization in the 21st century. A serious analysis of the European integration process and the difficulties it encounters, therefore, is in order.
European integration has travelled a bumpy road over the 60 or so years since the
establishment of the European Coal and Steel Community, which marked its beginning. All achievements since then have been hard-won. The core issue of advancing from regional integration to globalization lies in the contradiction between the upholding and at the same time partial transfer of national sovereignty. The creation of the euro exemplifies this conundrum. Currencies in the euro zone have been unified, so partially transferring sovereignty, but the fiscal policies of countries in the zone have not, so upholding national sovereignty. The problems and crises associatedwith the euro largely stem from this contradiction.
European integration now faces four challenges that imperil the survival of the European Union and the euro.
European Integration Faces Unprecedented Challenges
