[ECB Governing Council Member: Europe Clinging to Old Economic Model is 'Naive,' The World is No Longer Rules-Based] According to a report by Jinse Finance, on May 4, ECB Governing Council member Wunsch stated that Europe is 'naively' believing that the free economic model can survive the global shift driven by the United States. He pointed out that EU policymakers are still pursuing goals such as open markets and limited state aid, but these objectives no longer reflect the geopolitical reality shaped by Trump's 'America First' policy. 'Trade openness and strict state aid rules are feasible in a rules-based world,' Wunsch said. 'But that world is gone, and if you cling too tightly to a world that no longer exists, then you are being too naive.' The core of his argument is that Europe has failed to internalize the fact that the global economy has moved away from a fair competition environment. He stated that U.S. protectionist policies have reshaped this landscape. 'The world has changed, and we cannot keep doing the same things and giving the same answers to problems that, to some extent, have already failed in the past,' he said. (Jin10)