Europe is caught in the maelstrom of rising nationalism and increased EU-US and China-US trade tensions. Yet, globalisation is only accelerating, driven by Industry 4.0 technologies and flows of data and information. The impact of new technologies (AI, RI, 3D printing) has shifted global trade patterns between goods and services. It is estimated that trade in services is growing 60% faster than trade in goods; and sector-wise, IT services, telecom, business services are growing 2-3 times as fast as trade in goods.