The European Young Leaders discussed Europe's soft power and hard power in a changing geopolitical landscape. As power shifts globally from states to non-state actors and from the US to a multilateral system, military expenditures are fluctuating. While the US defense budget remains large, China has overtaken the EU as the second largest spender and budgets are rising elsewhere. However, economic interdependence gives countries significant soft power. The EU's vision is based on sharing values through cooperation rather than imposition. Maintaining a positive global image reduces the need for hard power spending.