The European Union’s strategy of adaptation to the changes taking place in the contemporary international trade

Abstract

The article raises the issue of transformation in contemporary
international trade and its impact on the policy of the European Union.
Economic globalisation, global value chains, growing new economic powers
threatened the position of the European Union, which had to choose the
right strategy for responding to these changes. Free trade has become the
ideological determinant of EU policy, which guarantees economic growth in
both developed countries and developing countries. The article consists of
three parts, introduction and summary. The first part of the article presents
the implications of globalisation for modern international trade relations.
The second part was devoted to the analysis of the Union’s policy towards
the ongoing transformations. In the third presents the methodology used by
the Union in the implementation of the idea of free trade.