13 Major Events in 2022 That Could Change Europe’s Economy in the World

January: As the RCEP, a mega-regional trade deal in the Asia-Pacific, enters into force, we renew our wake-up call

After eight years of lengthy negotiations, the Regional Comprehensive Economic Partnership (RCEP) was concluded on November 15, 2020, and entered into force on January 1, 2022. This megaregional trade agreement brings together all 10 members of the Association of Southeast Asian Nations (ASEAN) plus China, Japan, South Korea, Australia, and New Zealand under one roof.

February: Olympic Winter Games — Zero-Covid policy is not Beijing’s sole problem

It all could have been just as beautiful as with the Olympic Summer Games in 2008. The world was awed by the new benevolent superpower, and even the sky in Beijing was unbelievably blue. Nothing will be the same when the Winter Games take place from February 4–20, 2022.

March: The French EU presidency and the European spring Council meeting — strong impetus or lame-duck?

France has taken over the presidency of the Council of the EU on January 1 (the presidency rotates among the EU member states every six months). During this period, France will chair most Council meetings and represent the Council with other EU institutions and at the international level. Traditionally, the presidency drives forward the ongoing work on European legislation but also sets some of their own agenda topics.

April: French presidential election — will Macron stay in office?

France will hold presidential elections on April 10. If no candidate receives an absolute majority of votes in the first round, a second round is scheduled for April 24. The current president Emmanuel Macron came into office in 2017 on a decidedly pro-European ticket and defied traditional French party lines.

May (or spring): Digital Markets Act and Digital Services Act on the home stretch

The first half of 2022 is likely to see decisive progress on two major legislative proposals of the Commission’s digital agenda, particularly as the French presidency is ambitious to pull them through during its term.

June: G7 summit as the starting point of a global climate club? Yes, please!!

Germany will hold the presidency of the “Group of 7” (G7) in 2022 and can thus decide on the topics to be discussed at the summit in June 2022 — as in 2015 — at Schloss Elmau.

July-September: Another summer of climate change?!

Another scorching summer is expected for 2022 across the Mediterranean in the southern neighborhood of the EU: Summer 2021 already saw almost 50°C heat in Tunisia and Syria, wildfires even in Morocco and Lebanon, torrents of rain in Algeria and Jordan, low water in the Tigris in Iraq and Nile in Egypt — North Africa and the Middle East are a climate change hotspot. Experts predict a more than two °C warming by 2050 for North Africa and even a more than 3 °C warming in the Gulf region.

October I: 20th National Party Congress of the Chinese Communist Party — Will Xi become the unrestricted ruler of China?

When we wrote on the last Party Congress in 2017 under the title Welcome to Xi’s new era, we could not imagine just how new (or old?!) this new era would be. In the last four years, Mr. Xi has amassed an alarming amount of power and built a cult around his person not seen since the days of Mao Zedong.

October II: G20 Summit in Indonesia — Bolder at Bali?

In October, the 17th G20 Heads of State and Government Summit takes place in Bali, Indonesia, under the theme “Recover Together, Recover Stronger.” The Indonesian G20 Presidency has announced that it will focus on three main pillars: Global health architecture, sustainable energy transition, and digital transformation.

October III: 25thWorld Energy Congress in St. Petersburg — Winners and losers of the energy transition?

Traditional energy superpower Russia would be delighted to find the next World Energy Congress it hosts on a list of “major events that could change Europe’s Economy in the World.” But with the international climate talks picking up again and critical transition efforts to sustainable energy, the 25th edition might turn into a milestone of an unexpected kind.

November: COP27 as a booster for global climate protection?

From November 7 to 18, the 27th session of the Conference of the Parties (COP 27) to the U.N. Climate Change Conference will take place in Sharm El-Sheikh, Egypt. The Glasgow 2021 climate summit was a summit with light and shadow. One positive aspect was the call for a coal phase-out. In addition, the U.S. and China had surprisingly declared that they wanted to set up a joint working group with the aim of accelerating the transformation to a climate-neutral global economy.

November II: U.S. midterm elections: Can Biden defy history?

The midterm elections in November will be a pivotal moment for the Biden administration, for U.S. politics and for transatlantic relations. If Republicans win just one of the two chambers of Congress — the House of Representatives or the Senate — they will gain a veto power that allows them to block the government’s legislative procedures.

December: The FIFA World Cup — A tightrope act for Europe

The final round of the 22nd FIFA World Cup for men’s national soccer teams is to be held in the Gulf state of Qatar from November 21 to December 18. For the first time, 48 men’s national soccer teams will participate; and for the first time, FIFA World Cup matches will be held in winter instead of summer — due to the high temperatures that prevail in the Gulf region in summer.

A critical year for Europe

Summing up, 2022 will be a year full of decisive moments for Europe to position itself on the global stage. How will the EU deal with China and other challenging actors? Will it be able to strengthen institutional multilateralism? Will it be successful in achieving progress in the fight against global climate change?

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Our mission on this blog is to shed light on Europe’s role in the world economy. https://globaleurope.eu/

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Global & European Dynamics

Global & European Dynamics

Our mission on this blog is to shed light on Europe’s role in the world economy. https://globaleurope.eu/