Symposium: Risks and Opportunities in EU-China Business Relations
The symposium on Risks and Opportunities in EU-China Business Relations was held on Thursday, 23 November 2023 in Lila hall (Lila dvorana) at the School of Economics and Business, University of Ljubljana, Slovenia.
In the current situation of complex geopolitical relations (e.g. war in Ukraine, war in the Middle East, technological war between the US and China, etc.) leading to a transformation of the global trading system, and increasing environmental, technological and economic risks, risk management in international business is not only a key element for success but also for ensuring survival. We are seeing changes in foreign trade policies and strengthening of industrial policies (e.g. Green Deal Industrial Plan, Critical Raw Materials Act in the EU, Inflation Reduction Act, the CHIPS and Science Act in the US, Made in China 2025) as an attempt to increase supply chain resilience and security, which is driving geo-economic fragmentation and restructuring of global value chains on a scale unimaginable only a few years ago (e.g. decoupling of global value chains, “de-risking”, “friendshoring”, nearshoring and prioritisation of economic security). Mounting geopolitical risks also strongly impact European-Chinese business relations, prompting economic actors to rethink their strategies, partnerships and even priorities.
Against this backdrop, companies must, more than ever before, develop new capabilities to navigate the complex geopolitical landscape.
To address these challenges, the symposium brought together academics, policymakers and the business community to collaborate, exchange ideas and discuss the challenges of European-Chinese business relations amid global uncertainties. Its aim was to help companies understand the situation, anticipate changes in the business environment and properly treat risks in global business.
Around 70 people attended the symposium, recognising the importance of geopolitics for today’s business.
The event was opened with introductory words by Prof. Dr. Tomaž Turk, Dean of SEB LU, and Jure Tomc, Vice President of the Slovenian-Chinese Business Council, GZS. The guest speakers then shed light on the current state of relations between the EU and China, the role of geopolitics and its impact on the economy. Prof. Dr. Katja Zajc Kejžar, Professor of International Economics at SEB LU, spoke about changes in the global environment and the economic interdependence between the EU and China. Dr. Jerneja Jug Jerše, Head of the European Commission Representation in Slovenia, presented the EU’s strategy in relation to China. Prof. Dr Jing Men, Director of the Centre for European Studies at East China Normal University, discussed the Chinese perspective on the future of economic relations between the EU and China. She emphasised the impact of the external factors, e.g. the war in Ukraine and the role of the USA, but ended her presentation on a positive note: »Chinese experts are reasonably optimistic about relations between China and the EU, they have a solid basis of economic and trade cooperation.«
The keynote speaker was Prof. Dr. Miguel Otero-Iglesias, Professor of International Political Economy at the IE School of Global and Public Affairs and Senior Analyst at the Elcano Royal Institute. He emphasised that the EU must play an active role in easing global tensions. It needs to determine which sectors are strategic and require the strengthening of strategic autonomy and the reduction of dependency, while seeking free trade in the other, non-strategic sectors.
The second part of the symposium focussed on the role of risk management in the context of increased geopolitical risks. Prof. Dr. Katja Zajc Kejžar and Prof. Dr. Mojmir Mrak spoke about the specifics of managing geopolitical risks, Prof. Dr. Peter Trkman discussed the challenges of risk management in supply chains, while Prof. Dr. Darja Peljhan looked at the alignment of risk management and business strategy.
The symposium concluded with a round table discussion on risks and opportunities in EU-China business. The discussion was moderated by Dr. Anastas Vangeli, Assistant Professor of International Business, SEB LU. Tinkara Godec, MA, Secretary General, Slovenian-Chinese Business Council, Marko Femc, M.Sc, CEO, Plan-net Solar, Dr. Mark Pleško, CEO and Co-Founder, Cosylab, Andreja Mulec Bohinc, Internationalisation Promotion Department, SPIRIT, Dr. Slobodan Šešum, Director- General, Directorate for Economic and Public Diplomacy, Ministry of Foreign and European Affairs, discussed the opportunities and risks of doing business in China and emphasised the great economic potential of the Chinese market for Slovenian companies. Dr. Mark Pleško shared a particularly interesting view on Slovenia’s role: “Slovenia »is the little guy, we can make friends with anyone and we should use this position. We should fight the battles we can win, and we should tackle them with words, not with guns.«
The symposium was a part of the European Jean Monnet project EUglobe. It was organized by the School of Economics and Business of the University of Ljubljana in cooperation with the Slovenian-Chinese Business Council, GZS.
PROGRAMME OF THE SYMPOSIUM
9:15 – 9:30 Gathering
9:30 – 10:00 Welcome Addresses
- Prof. Dr. Tomaž Turk, Dean of School of Economics and Business, University of Ljubljana, Slovenian-Chinese Business Council representative, GZ
- Jure Tomc, MBA, Vice-President, Slovenian-Chinese Business Council, GZS
- Introductory Remarks
- The Global Context of EU-China Business Relations: Prof. Dr. Katja Zajc Kejžar, Professor of International Economics, School of Economics and Business, University of Ljubljana
10:00 – 10:40 Geopolitical Insights
- EU Strategy on China: What to Expect in EU-China Economic Relations?: Dr. Jerneja Jug Jerše, Head of the European Commission Representation in Slovenia
- China’s Perspective on the future of EU-China Economic Relations: Prof. dr. Jing Men, Professor and Director of the Centre for European Studies, East China Normal University
- Q&A
10:40 – 11:20 Keynote Speech
- EU-China Economic Cooperation in Times of Great Power Rivalry: Prof. Dr. Miguel Otero-Iglesias, Professor of International Political Economy at IE School of Global and Public Affairs and Senior Analyst at Elcano Royal Institute
- Moderator: Assist. Dr. Zhonghui Ding, School of Economics and Business, University of Ljubljana
- Q&A
11:20 – 11:40 Coffee Break
11:40 – 12:40 Business Implications – Risk Management
- Risky Business: How to Navigate Risks in International Business?: Prof. Dr. Katja Zajc Kejžar, Professor of International Economics, School of Economics and Business, University of Ljubljana
- Geopolitical Risk: A New Boardroom Issue That Must Be Tackled: Prof. Dr. Mojmir Mrak, Professor of International Finance, School of Economics and Business, University of Ljubljana
- Supply Chain Risk Management Challenges: Prof. Dr. Peter Trkman, Professor of Business Informatics, School of Economics and Business, University of Ljubljana
- Risk Management and Business Strategy Alignment: Prof. dr. Darja Peljhan, Professor of Business Economics, School of Economics and Business, University of Ljubljana
12:40 – 14:00 Risks and Opportunities in EU-China Business: Current Status and Challenges for the Future
- Introductory remarks: Dr. Anastas Vangeli, Assistant Professor of International Business, School of Economics and Business, University of Ljubljana
- Roundtable Discussion
- Tinkara Godec, MA, General Secretary, Slovenian-Chinese Business Council
- Marko Femc, M.Sc., CEO, Plan-net Solar
- Dr. Mark Pleško, CEO and co-founder, Cosylab
- Andreja Mulec Bohinc,, Internationalisation Promotion Department, SPIRIT
- Dr. Slobodan Šešum, Director-General, Directorate for Economic and Public Diplomacy, Ministry of Foreign and European Affairs (TBC)
Moderator: Dr. Anastas Vangeli, Assistant Professor of International Business, School of Economics and Business, University of Ljubljana
14:00 – 14:30 Networking with refreshments
Find out more about the event in the attachment.
Due to the limited availability of seats, please register here.
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