Not all of them died, but all of them were sick
The big day has arrived. Donald Trump has imposed exorbitant tariffs on the rest of the world.The basic rate will be 10% for all products entering the United States, but…
Philippe Waechter's blog
The world has changed without Europe
“We have no eternal allies, and we have no perpetual enemies. Our interests are eternal and perpetual, and it is our duty to pursue those interests.” These are the words…
US tariffs: destabilizing and inflationary
The implementation of 25% tariffs at the US borders will be announced on April 2. The Trump administration’s goal is twofold:1- Collect revenue with the ultimate objective of replacing income…
The Recomposition of the World – Part 2
The era of globalization saw the rationality of trade and its proliferation emphasized. Each participant could benefit from trading. The model was positive-sum. Such a framework facilitated peace between nations,…
The Recomposition of the World – Part 1
In a recent speech, US Vice President JD Vance explained the failure of globalization in these terms: “The idea of globalization was that rich countries would move up the value…
International finance in 2025*
Like the real economy, finance is disoriented by recent economic and political developments.Gold is at its highest, and long-term rates in Germany have risen as never before following the announcement…