Refer China: Dialogue on global economic integration

Dialogue on Global Economic Integration with Former Italian Minister of Economy and Finance

On the afternoon of June 20, 2025, the CEIBS Global EMBA programme welcomed distinguished guests from academia, business, and government for a thought-provoking event on the theme "China, EU and Global Economic Integration: Challenges and Pathways." The event brought together leading voices to discuss the current state of the global economy and the evolving dynamics between China and Europe.

Keynote Speech

Monetary reform in the time of global uncertainty

The keynote address was delivered by Professor Giovanni Tria, Former Italian Minister of Economy and Finance and Professor of Economics at the University of Rome Tor Vergata. In a sweeping analysis, Prof. Tria examined the structural vulnerabilities of the global monetary system amid rising geopolitical tensions and uncertainty. He called for greater multilateral cooperation, a more diversified reserve currency system, and stronger Europe-China engagement to promote global financial stability.

Macroeconomic uncertainty

"The policy of tariff escalation has unleashed widespread economic uncertainty and undermines investment decisions and dampens both consumer confidence and business spending. Trade disruption contributes to the fragility of the international financial system and generates volatility in exchange rates."

"We are witnessing early signals of declining trust in the US dollar as the world's dominant reserve currency, which would call the foundations of this monetary order into question.The American trade deficit stems from excessive domestic demand, driven by a large public deficit and sustained by continuous debt issuance."

The global monetary system

"The current global monetary system is no longer aligned with the geopolitical and economic realities of today. A multipolar world needs multipolar governance—but that requires trust, transparency, and renewed international cooperation."

"We must move toward a multipolar system of reserve currencies, promoting the broader use of the Euro and the renminbi and strengthen the IMF's role."

Keynote Speech

The global economic outlook

Professor Bala Ramasamy, CEIBS Associate Dean and Director of the Global EMBA Programme, followed with insights into the persistent uncertainties shaping global markets, including geopolitical shifts, economic resilience, and the importance of regionalization. He also emphasised the need for business leaders to embrace strategic collaboration in the face of growing complexity.

Continue to innovate

"Asian economies have strong fundamentals. Like a tree with deep roots, they can weather the storm. Their advantages include a fantastic labor force, great infrastructure, and a stable government. Going forward, Chinese enterprises will continue to innovate and remain at the forefront of cutting-edge technology."

Foster resilience

"Executives must go beyond short-term signals and understand the structural shifts taking place—from demographics to digitalisation. We are not returning to the old normal. Resilience will come from agility and a global mindset."

The event culminated in a panel discussion featuring both keynote speakers, moderated by Mario Huang, General Manager of Intesa Sanpaolo Shanghai Branch and current CEIBS Global EMBA 2024 student. The dialogue explored EU-China relations, technology cooperation, and economic governance challenges, with engaging participation from an audience of CEIBS alumni and industry guests.

Opening and closing remarks were delivered by Professor Frank Bournois, CEIBS Vice President and Dean, who reaffirmed CEIBS' role as a platform for fostering meaningful China-Europe dialogue and executive education excellence.