Many smaller countries in Eastern Europe, Asia and Sub-Saharan Africa have become more integrated into the world economy, and – as a result – have been able to increase the welfare of their citizens. In many ways this conference is dedicated to discussing the results of this global shift of the balance of economic activity.
Given the importance of these rapidly growing economies, it is no surprise that that their share in the foreign trade of the EU countries has also grown. Last year, China accounted for 8.4% of all exports for the EU as a whole, while Russia’s share was 6.4%.