The Changing Direction of Global Trade and Europe’s Energy Dilemma

Abstract

The study seeks to elucidate the evolving dynamics of global trade. Specifically, it analyzes the potential implications of the increasing trade volumes between developing and underdeveloped nations. The examination includes how industrialized countries with significant energy dependencies will maintain competitiveness within the triad of North America, East Asia, and Europe. Furthermore, it assesses the risks stemming from the inability of European nations to provide energy at competitive prices. The study discusses the repercussions of the energy crisis on the European economy and explores potential strategies for mitigation. Additionally, it considers the historical paradigm shifts in the world economy as a contextual backdrop for shaping future expectations. Developments in South-South trade, as well as the processes of cartelization and monopolization in global trade, are analyzed in relation to the core subject matter. The increasing significance of energy raw materials, particularly liquefied natural gas (LNG), is highlighted in the context of shifts in the global trade axis.