The business cycle, does it still exist?
The business cycle is a generic term illustrating the fluctuations of an economy. Several interpretations. The simplest method is to represent the rises and falls in activity. These phenomena can…
Philippe Waechter's blog
Dollar – Stability under tension, Hegemony in question
The position and role of the dollar have long been a subject of debate. After the Second World War, the Bretton Woods agreements enabled the establishment of a stable monetary…
China and the Eurozone Asymmetrical competition?
A major challenge for the European cycle will be the confrontation with Chinese products. For what ? 1- China is redeploying its activity and will continue to use its exports…
Culture at the heart of the economic system
Here is a column written in mid-August 2025. I paid tribute to Joel Mokyr who has just received the Nobel Prize in Economics along with Philippe Aghion and Peter Howitt.…
The United States in the Chinese trap
China has sparked hostilities over Trump’s trade policy. Donald Trump’s tariff policy was expected to increase inflation slightly, and this is the case, even if it is not spectacular. The…
Is France in crisis ?
Yes, the French economy is in crisis. Not because its activity is collapsing, nor because its inflation rate is too high. The French economy is in crisis because it lacks…
The Geopolitics and the Stablecoin
The other geopolitical dimension of American tech is monetary. The rise and appeal of cryptocurrencies have been reinforced by Trump’s arrival in the White House, as evidenced by a January…
New Geopolitics – The Role of Tech
The second dimension is that of American Tech, a leader in Western countries. The vision of Tech is ambivalent. As individuals, we are all consumers, whether personally or professionally. On…