The election of Donald Trump marked a profound rupture, redefining global economic balances.
Its protectionist policy, inspired by the McKinley era, weakens supply chains and increases international tensions, particularly with China and Europe.
This model, from the McKinley period, evokes an era of unequal growth, monopolies and moral withdrawal.

Moreover, thinkers close to Trump, such as Peter Thiel, defend a libertarian vision opposing capitalism and democracy, advocating institutional secession and the emergence of autonomous zones.
This ideology challenges the established order and could lead to a fragmentation of the world, including the United States itself. This calls into question the stability of institutions and trust in American assets.

This document brings together thoughts on these upheavals that should be closely followed, as they shape our future.