Iván Kovácsics, director for international strategy and cooperation of Hungarian central bank, says globalization has helped lift millions of people out of poverty. Yet he warns that current fragmentation and geopolitical tensions could hinder innovation and green economy. He says Europe's competitiveness will rely on collaborating with rapidly growing Asian economies. China is "essential" due to its large markets, industrial capabilities and advanced clean energy technologies. China is a key partner for Europe in its efforts to achieve green transition.