Alan Cafruny, the Henry Platt Bristol Professor of International Affairs, recently presented a paper at a workshop on “Transatlantic Trade in Global Context.” The international research workshop brought together scholars and policy makers to assess how the transatlantic partners – the U.S., EU, and Canada – are addressing and being impacted by recent developments in global trade and economics.” The event was sponsored by Carleton University’s Jean Monnet Network on Transatlantic Trade Politics.
In his talk, titled “Re-routing Globalization and the Crisis of the Atlantic Order,” Cafruny said that with the war in Ukraine and resulting sanctions on Russia, U.S. power in the transatlantic space has greatly increased.
He noted that though the Russian economy has been quite resilient, “the sanctions have caused soaring energy prices that, along with U.S. subsidies designed to attract investments into North America, have been devastating to the European economy, and especially Germany.”
Cafruny said that as the worst-performing country in the Organization for Economic Cooperation and Development in 2023, “Germany is now facing the prospect of significant deindustrialization and the associated growth of far-right parties and movements,” adding that “the ‘German question’ has resurfaced.”
