Europe risks ruin from protectionism, Vučić tells Bloomberg; may return as PM

Serbian President Aleksandar Vučić has issued a stark warning, stating that Europe is "sleepwalking into economic ruin" due to complacency and protectionist policies. Speaking in an interview with Bloomberg, Vučić, who has positioned Serbia as a crucial entry point for Chinese investment in Europe, emphasized the numerous obstacles hindering the flow of capital between Europe, China, and the United States.

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Europe is sleepwalking into economic ruin because of complacency and poor productivity.

"Protectionism is 'killing, in the end, Europe,'" Vučić stated, adding that the way people work will be "the toughest and the biggest issue for the entire Europe." He observed that many in Europe are living comfortably without fully recognizing the surrounding economic challenges. Following his return from Beijing with pledges of over $1 billion in investment for Serbia, Vučić noted that Chinese investment in the country now nearly matches that of the European Union.

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Protectionism is 'killing, in the end, Europe.'

Serbia has become a significant hub for Chinese investment over Vučić's 12 years in power, with billions poured into industries ranging from mining to robotics. Chinese President Xi Jinping has lauded the "ironclad friendship" between the two nations. Despite the growing ties with China and other allies like the United Arab Emirates, Vučić remains committed to Serbia's EU aspirations, although public support for membership has waned. He is banking on his focus on job and wealth creation to maintain his political standing amidst ongoing student-led protests against his government.

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How people work 'is going to be the toughest and the biggest issue for the entire Europe: How we are going to handle this.'

Vučić confirmed that Serbia will hold parliamentary and presidential elections this year and ruled out seeking another presidential term after his current one concludes in 2027. When asked about the possibility of returning as Prime Minister, he responded, "it might happen," suggesting his party might require his leadership. He also expressed regret over the "stalemate" in the Russia-Ukraine war, describing the nations involved as "our Slavic brothers, very close friends."

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We all live nicely. We don’t see what’s happening around us.