A question of the right balance: high-level conference explores the future of economic relations between China and Europe

Austria’s central bank governor today opened a two-day conference on China’s economic role for Central, Eastern and Southeastern Europe (CESEE) and the euro area

In his opening address to the Conference on European Economic Integration in Vienna, Austria’s central bank governor Robert Holzmann emphasized the need to strike an economic balance between China and Europe. To achieve prosperity and climate neutrality, we need to forge partnerships that are mutually beneficial and avoid one-sided dependencies, said Holzmann.

Today, Robert Holzmann, Governor of the Oesterreichische Nationalbank (OeNB), opened this year’s Conference on European Economic Integration (CEEI) at Vienna’s MuseumsQuartier. The two-day conference is being organized by the OeNB together with the Bank of Finland Institute for Emerging Economies (BOFIT). The CEEI will focus on China’s economic role for Central, Eastern and Southeastern Europe (CESEE) and the euro area.

In his opening words, Governor Holzmann said that China’s rise in the world was “nothing short of a modern economic miracle” and pointed out several elements that China’s and Europe’s economies have in common. At the same time, Holzmann emphasized the need to achieve a stable equilibrium: “Striking a balance between reaping the benefits of Chinese investment and safeguarding national interests remains an issue for many CESEE countries.” The economic relationship between Europe and China has been mutually beneficial so far. In the future, it will be important to avoid one-sided dependencies.

However, Governor Holzmann left no doubt that cooperation between China, CESEE and the EU has never been more important than now in the fight against climate change: “By aligning their efforts and expertise, all three regions can accelerate the joint mission toward a climate-neutral world.”

Finally, Holzmann stressed that “peaceful coexistence is an essential precondition for a globalized economy that allows all nations to share prosperity.” To this end, he said, the dialogue on issues such as the rule of law and the EU's envisioned Open Strategic Autonomy needs to be continued.

Over the next two days, over 300 participants will discuss these and other important issues at the CEEI 2023 under the heading “Geopolitical shifts and economic strategies: China’s role for CESEE and the euro area.” This year’s CEEI speakers include Hyun Song Shin (Bank for International Settlements), Guanghua Wan (Fudan University), Alicia García-Herrero (Natixis) and Isabella Weber (University of Massachusetts Amherst) and many other leading representatives of monetary policy, economic research and finance institutions.

Conference on European Economic Integration (CEEI)

The CEEI is a conference the Oesterreichische Nationalbank (OeNB) organizes every year, sometimes in cooperation with a partner institution. Every fall, the CEEI brings together leading experts in monetary policy, economic research and finance. Traditionally, the conference has a special focus on the perspective of the economies of Central, Eastern and Southeastern Europe – one of the OeNB’s foremost research areas.

Inquiries about the conference:
Julia Wörz
Head of the Central, Eastern and Southeastern Europe Section
Phone: (+43) 676 5014925