TRANSATLANTIC ECONOMY IN THE SHADOW OF ASIA

Abstract

The study aims at explaining the importance of the transatlantic economy in
the shadow of today's challenges, including slowing growth, financial problems and growing influence of the emerging markets, mostly Asia. It highlights
the views of independent experts, policymakers, and governments on the
transatlantic economy and analyzes the dynamics of trade and investment
relations in the last decade. While investment ties are still dominant between
the two sides of the Atlantic, trade has become second in rank after the relations with Asia for both entities. The transatlantic economy still remains the
largest and wealthiest market in the world. The study concludes that signing a
free trade agreement or a comprehensive economic cooperation can be undeniably beneficial for both the United States and Europe; can revive growth,
and contribute to keep their global leadership position. A stronger transatlantic cooperation gives a great opportunity especially to Central Europe to
maximize its competitive advantages over the Western European countries.