So this is really the ideal time for Europe and East Asia, Europe and Asia, to come together, take the baton of multilateral rules, and run with it. So it is the ideal time. My second point is that Europe and East Asia, in many facets, are already working together on many of the global governance

issues on our agenda. And my third point is, but the devil is in the detail. So we have all the theory, we have the rhetoric, and how is it being translated into real policies and actions? And what's the EU, European Union, doing about it? I'm based in Brussels. I keep a close watch on the EU,

but I also keep a close watch on how it interacts, Europe interacts with its leading partners. So this is a match made in heaven. Europe and East Asia could, in principle, be working very, very closely together on global governance issues to try and preserve, protect,

reinforce the multilateral system, which, as Sebastian has said, is under threat by US President Donald Trump, who is clearly in retreat on many of the commitments, engagements, promises that have been made over the last few years. All the structure of global governance that has been created by, let's say, by the liberal

order. Climate change is obviously one. He's retreating from that. The trade deals as well, whether it's TPP or TTIP. And of course, the G20 meeting, as we all know, reading the newspapers, is going to actually, I think, to some extent highlight the disconnect that exists between Trump's view of the world, black-white,

no room for gray, and Europe, Chancellor Merkel, but also European Commission and also the other countries, their view of the world. So we all know we're all sort of braced for quite a bit of, let's say, tension, confrontation at the G20 in Hamburg. At the moment, what we're seeing, and this, I think,

is not news to you, but I think it's quite palpable, is that Europe has bounced back. Last year, we lived through some very tense moments, some very fragile moments. We thought the tide of populists was going to gain ground. We were worried by what happened Brexit, obviously, and that was quite a bit.

Anti-globalization was mixed up in this sort of anti-EU rhetoric that we got from the Brexiters. And then we had, of course, the big challenge of dealing with Donald Trump. We had relied. Big Brother was there. He held our hand during some of the most difficult moments.

But, well, he's not there now. But I think, interestingly, in the last three months or so, starting with the Dutch elections, where Geert Wilder's party, the far right, didn't do as well as many anticipated or feared, if you like, and also, of course, the French elections, which I think has actually made us feel a little bit more, let's say, strong and shows that Europe is resilient

and has bounced back. And you can see this in Europe's, let's say, visibility at the moment, the way it talks, the way European leaders talk. There isn't that fear that was there a few months ago. So Europe is in a strong space. It's feeling self-confident, self-assured.

I don't know how long this will last. These things come and go. But for the moment, this is the moment for Europe to sort of stand up and say, on the global stage, and say, let's be counted. Now, when I say Europe, I do mean the EU and its member states. I think this has to be made very clear from the beginning. The EU is the member states plus.

So we can't just talk about it differently. So as I said, the second point is that Europe and East Asia are already joining hands. So let me give you a few examples. As Sebastian said, the EU-China 19th EU-China Summit was held about a month ago. We had our forum in Brussels last week.

And a lot of the discussions at the EU-China Summit were about global governance. It was about the Green Alliance, as it was called. It was about fighting protectionism. Interestingly, no declaration came out because there were disagreements. And we can talk about that later on some of the bilateral trade issues between EU and China.

But a lot of the discussion, I think maybe 80%, was really about the global structures and how they can be reinforced by China and Europe working together. Now, we all know that the Belt and Road Initiative is very, very high up on President Xi Jinping's agenda. And that was also a big question at the EU-China

Summit. And we believe, and I think quite a few think tanks believe, we certainly at Friends of Europe believe that it does offer opportunities for working together, including on governance issues. This is going to be the way China and Europe can come together on certain issues of governance, whether it's accountability, transparency, all the issues

that will be linked to the Belt and Road Initiative as it goes on. Now, you must have read that Japan and the EU are very close to signing a long-sought trade deal. There's an EU-Japan Summit, I think, on the 6th, just a day after tomorrow. And this is going to be the culmination of a long drive

to get EU and Japan to sign this agreement. Now, why am I saying this is important? Because EU and Japan, like-minded countries, though they are, have always found it difficult to agree on working beyond trade. It's all there and on paper, but I think this agreement also gives both sides a chance to go deeper into detail, including, I think you'll agree with me, on security issues.

EU-ASEAN also working very closely together. It's now 40 years since the EU and ASEAN had a strategic partnership. It doesn't call it a strategic partnership, but have been working together. And though the EU has been working on bilateral trade deals in the region, there's now a great sort of drive,

if you like, to bring those trade agreements together and have an EU-ASEAN region-to-region free trade agreement. So these are kinds of bilateral moves, if you like, that the EU is engaged in, which actually is all about global governance. Because when they're talking about trade relations, when they're talking about investments, it's also about shoring up, reinforcing the global rules.

And one more important thing that we did have very recently is ASIM, the Asia-Europe meeting. Now, this is very much about working together, Asia, Europe, Russia as well, working together on, once again, shoring up, protecting, reinforcing what is the rules-based system as we know it now.

And ASIM senior officials met in Brussels about two weeks ago. And we did a event with them. And it was very clear that the current geopolitical climate, geoeconomic climate, the uncertainties, the anxieties that we're living in, where's the world headed, gives Europe and Asia a point of real synergies

and conversation that goes beyond just policy declarations. But as I said, the devil is in the detail. And that's where the issues become slightly more complicated. So the EU, in fact, has brought out quite a few policy

papers recently that I would recommend that you read to try and get a picture of where we're headed generally. Of course, you have the communication on harnessing globalization. And I'll go into it a little bit more in a few minutes. But you also have an important EU global strategy document that Federica Mogherini brought out, the External Action Service brought out,

which talks about a contested but also a very connected world. And you get an idea of how the EU intends, at least in theory, once again, I'll say, work in partnerships and in synergy with its partners. And there's a lot of networking included in it, civil society, working with partners

in a contested world. So it's an important document that I would recommend. The other thing adopted very recently is a document called the European Consensus on Development. This is very much the vision of the EU on Agenda 2030, Sustainable Development Goals.

And there, once again, it's very much about working with countries, talking to them, bringing everyone together in a kind of holistic sort of alliance, if you like. And it talks quite a great deal about bringing business into the development agenda. So very much Agenda 2030 financing business comes in as well.

And finally, another document that I would recommend is Communication on Resilience that has just come out by the European Commission and the External Action Service, which also talks about working together to make the world a much more resilient place. So you have the shocks, but you aren't beaten by the shocks. You bounce back, and you continue your engagement.

So that is the theory. Those are the very interesting documents to be read. But the reality is that when push comes to shove, there are certain, let's say, weaknesses, fault lines in the EU's strategy

that I think are worth noting. First of all, I'd say that, of course, when you look at globalization and perceptions of globalization in Europe, it's so very different from how globalization is viewed in China or East Asia or India even. Globalization, per se, in those parts of the world

is viewed positively. I mean, it has brought people out of poverty. It's brought inequalities, of course it has. But it's also brought wealth, prosperity, and a certain degree of stability. So when Europe says there's a great anti-globalization mood, it's talking about what's happening within Europe.

It's a very Eurocentric approach. And I keep saying, the rest of the world is not anti-globalization to the extent that you think it is. Because in Europe, what have we had? So globalization has been mixed up with some very negative sentiments. Xenophobia, as we've seen during the discussions in whether it's in Germany with the IFA or Netherlands,

France, the Brexiteers, in UK with xenophobia, with the far-right conversations. To a large extent, the globalization debate has been hijacked by the far-right and made its own. So people who worry about their jobs or worry about investments or worry about basic things like that, inequalities which are rising, as we know,

in Europe as well as in America, they feel that they have a home with the far-right, which is anti-global just as much as they are. And it's been also confused and complicated by economic nationalism. Of course, the refugee and migration crisis has added to these fears.

There's been a spate of terrorist attacks as well. So globalization has become a dirty word in many parts of Europe. And I think the EU is finding it very difficult. It's finding it very challenging to respond to this. And I'll tell you a little bit why. So as I said, it's the power of the populace that

has emerged as being much more powerful than the pro-globalization voices that could be heard. What we've had is Macron, Emmanuel Macron, the new president of France. I think he's been one of the few public figures who's come out and made a real case for a globalized, open,

tolerant, anti-protectionist France. But there is increasingly, and I think this is what is the fault lines that I was referring to, the European Union's rhetoric on having a liberal world order, on having free trade, free trade liberalization.

When it comes to the crunch, and you'll see this increasingly also at the G20, there are the big banner headlines. And it comes to detail, there is a great deal of talk now. You refer to Cecilia Malmstrom, the EU trade commissioner, increasingly talk about fair trade, which as far as I know is not a WTO principle. A free trade is, fair trade is not.

There's a great deal of emphasis on reciprocity, which once again, reciprocity is not a WTO principle. It is an overarching reciprocity, but not sector by sector, product by product. But that is what is being turned into. There's the whole issue of the global oversupply of steel, which of course Donald Trump is now

threatening to impose tariffs and quotas on. And the EU has been very, I think Sebastian will agree with me, very hesitant to come out and say that it really wants a global liberal order. It says this in principle, it says this in the big meetings,

but the devil, as I said, is in the details. So when you're talking to China and you're giving a message of, yes, we will open up, but only if you do so. Yes, we'll take your investments, but only if you take ours. Yes, we'll start screening investments because we think it's also important that we screen

investments just as you do. We're not sending the big message that I think Europe as an open trader and open and liberal society could. So my response to this communication would be it's confused. It's a confused, it tries to do everything at the same time.

It tries to defend globalization, but it also talks about a lot of issues that I would say actually bring in the fear element as well about job losses, et cetera. So I'll finish off, and maybe we can chat about this a little bit later. I think we have to be more strategic in our thinking

when we talk about globalization. If we're really going to defend it, we have to do it by actions, not just by words. So policies are important. And what you say in your bilateral meetings with, say, China or ASEAN is just as important as what you say at the G20. And the promises you make have to be then translated

into real action. And I think you have to make a stronger political case for globalization. Because globalization has worked very well in Europe. It's really worked in favor of Europe's development. The European Union itself, with its single market, its internal market, is a globalized Europeanized entity.

So I think what I would like to hear from our commissioners and our officials is something that goes beyond just what's happening at the moment. So G20, Sebastian, is an important moment, could be the moment that this is done. But I think it's going to be very, very difficult. You talked about connecting with citizens.

I think it's very important. We've seen the importance of connecting with citizens when it comes to the Canadian trade deal. We saw it also with TTIP, because there's been enormous civil society actions against TTIP as well. And I think Europe is being back-footed and doesn't have the bounce back that's necessary to make a really strong strategic and political case

for globalization. And I think this is going to be one of the biggest challenges that we face as we go into the European Union parliamentary elections in 2019. Because if we cannot make a case and talk about an open and free and tolerant Europe leading up to these elections,

I think we're going to play into the hands, once again, of populists and perhaps the far right or the left-right extremists as well. So the challenge is out there. And I think the G20 in Hamburg is going to be the first step in what I hope will be a more consistent and a more sustained EU policy in defending some of the most important principles

that we have built over the last few years. Thank you.