The issue considered is the identification and assessment of measures undertaken in the years 2008-2013 by the member states of the EU as well as the EU as such towards limiting the effects of the bank crisis. The measures implemented in the first phase of the crisis were meant to counteract the breakdown of the financial market (nationalization or capitalization of banks, takeover of low quality assets, guaranties) and became one of the causes of the states’ deepening debt. In subsequent years, i.e. from 2010 onward the measures were increasingly focused on counteracting the possibility of yet another crisis and solutions were adopted at the EU level (the European Mechanism of Financial Stability, the European Stability Instrument, the European Financial Stability Facility, bank union) as well as at a global level (Basel III). The purpose of the adopted measures was to bring stability to the financial market and real economy whereas the constructed new infrastructure of the financial market is to make credit institutions more resistant to crises.
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The object of the present study is the development of economic relations between the USA and China and between the European Union and China in the first and at the beginning of the second decade of the 21st century. Attention is drawn to the growing activity of China on the international arena, as this country not only develops its trade exchange but also becomes one of the world’s major capital exporters and makes efforts to internationalize its currency. In effect we witness the emergence of a multipolar world, which marks the end of the one built on the transatlantic axis. Thus, the USA and the European Union face a qualitatively new challenge and increasingly engage in the whole area of the Pacific. It is also noted that the reasons of this Asian orientation are different. The EU seeks new possibilities of economic cooperation although both at the level of the community and the bilateral level many other various initiatives are realized. For the USA this involvement is not only a strictly political dimension but what seems far more important are the USA’s efforts to limit China’s sphere of influence built on the basis of a dynamically developing economic potential of this country. For this reason Chinese-European relations compared to Chinese-American ones seem to be more stable and do not comprise as many so deeply dividing contentious issues.
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The material consists of excerpts from expert analyses prepared by scholars from the Institute for Western Affairs, commissioned by the Ministry of Foreign Affairs (founding organ). The first part contains an assessment of the impact of reforms launched under Agenda 2010 on German economy in 2013 and its future development. Crucial characteristics of the German economic model are identified and compared with the French vision of the functioning of economy especially in the context of the European Union and specifically in the eurozone. The authors of the second expert analysis focus on changes in Germany’s foreign trade and direct investments identifiable after 2007 which lead to increased importance of economic cooperation with countries outside the European Union. However, it must be emphasized that the readiness to broaden global economic contacts does not cause a re-evaluation of the foundations of German foreign policy nor its greater independence that would result in new possibilities of exerting influence in international relations.
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