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Business & Geopolitics Business Intelligence China Economy ENG Global Risks Other G20 / Global United States

Donald J. Trump and the return of strategic trade policy

Public statements made by the leaders of Canada, Mexico, the UK, France, Germany, and other EU countries, to protest against Donald Trump’s decision imposing tariffs on aluminium and steel imported to the United States from these countries were predictable. As are the retaliatory measures envisaged by these countries. But this has not prevented the Trump […]

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Bonds Economy ENG European Union Eurozone Macro Analysis Sovereign Bonds

Macro focus: The Italian conundrum and the way forward

Habemus Governum. It took months to reach an agreement between the competing “anti-system” parties that have emerged from the last Italian general elections, the M5S and the Lega, and to get the approval stamp of the President of the Republic, Sergio Mattarella, on the proposed Cabinet members, which was effectively achieved after a reshuffle of the […]

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Business & Geopolitics Business Intelligence China Economy ENG Other G20 / Global United States

The long view: the legacy of the financial crisis, trade wars, and the future of globalization

Keynote speech pronounced at the AJ NEWS Asia Pacific Financial Forum in Seoul, Republic of Korea, March 2018. The recent plan announced by US President Donald Trump, to increase tariffs on a broad range of Chinese products exported to the United States,  for up to USD 60 billion, and the counterveiling measures announced by Beijing, […]

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Business & Geopolitics Business Intelligence China Economy ENG Global Risks United States

Donald Trump and global order: disruption or continuity?

The picture is reassuring. The Ministers of Finance of the twenty largest economies in the world, together with the Managing Director of the IMF, display a perfunctory smile. But despite this reassuring impression, the G20 Finance Ministers meeting that was held in Baden Baden, in Germany, marks the end of an era. It signals a […]

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Economy ENG European Union

Europe : the enduringly nonexistent power

It is one of the most interesting paradoxes of our world. The European Union has a population of almost half a billion inhabitants, spanned across more than two dozens of distinct political constituencies, and it boasts the largest economy and consumption market in the world. Yet it is entirely devoid of any true state-like sovereignty. […]

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Africa Business Intelligence China Economy ENG Video ENG

China in Africa : the France 24 Debate.

    Why the backlash against Beijing? François Picard’s panel pays close attention to the terms and conditions attached to the $20bn in loans pledged by China’s new president to Africa, and to the true pros and cons of a China-Africa relationship that continues to grow. Solange GUO CHATELARD. Associate at the Max Planck Institute […]

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ENG European Union Eurozone Macro Analysis

Macro Focus: Europe needs a New Deal to restart growth

The election of the Socialist François Hollande to the Presidency of the French Republic and the massive rejection of the mainstream pro-austerity political parties by the Greek electorate are clear signs that Europe is reconsidering growth over austerity. Indeed, the “austerity and nothing but austerity” mantra, championed by German chancellor Angela Merkel and her allies, failed to impress grassroots European citizens […]

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European Union Eurozone

Is Germany leading Europe to an economic disaster?

Here we are once again. German officials are again rebuking any calls to steer Europe out of the deflationary cycle that would slowly but surely break it havoc. We have heard the German argument times and times again. In substance, Germans say they don’t want to pay for the profligate Greek, Spanish and their likes […]