China is experiencing rapid growth, so the chance must now be seized, said Fratzscher on Wednesday in a podcast on RBB Inforadio. In global economic competition - especially against China - it is a European weakness to think nationally first.
States would have to give up national sovereignty in order to strengthen Europe. He sees the corona pandemic as a huge opportunity to take the "right path" for Europe. “It is a hope.” Whether it will come true ultimately depends on whether the national heads of state and government are willing to come together and jointly develop a vision for Europe. After a European agreement, a trade agreement with the USA is the next decisive step in order to be able to put pressure on China.