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By Christophe HAUTIN, Portfolio Manager Allianz Global Investors
The political landscape across Europe, and the world, is currently undergoing perhaps the most profound changes since the end of the Cold War. The Covid pandemic, war in Ukraine, and now abrupt changes to the global system of trade and the reassessment of old alliances – most notably with the US – have led to a new reality where European states, both individually and collectively, will have to realign their priorities and strike an increasingly independent tone on the global political and economic stages.
These changes – already underway, and set to quicken over the coming years – can be viewed in terms of a growing European sovereignty, driven by the need to achieve greater...
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