China’s banking system is the largest in the world, with assets of $70.3 trillion – more than those of the US and the European Union combined. Officially, “non-performing loans” (NPLs) do not exceed 1.52%. However, the reality of the Chinese economy – with house prices having fallen by 23% since 2021, new prices falling for …
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The Global financial system is fragmenting into regional and national systems, hitting Visa and MasterCard
Last month, Jamison Greer, a top U.S. trade official, complained that Pix, Brazil’s instant payments system, was putting American companies like Visa and Mastercard at a disadvantage. The United States has proposed a 25 percent tariff on Brazil in response. But Brazilians appear unfazed. “Pix is a Brazilian achievement and we are not going to …
How will the “weaponization” of oil used by Iran stop affecting the global economy?
The global economy is now walking a tightrope, poised to sink into a nightmarish stagflationary universe. The “weapon” of oil, which historically has brought down empires, is being put to use again after the outbreak of war in the Strait of Hormuz. There has been no substantive agreement to reopen the Strait of Hormuz, as …
Strengthening Economic resilience as a growth lever in the Eurozone
The very recent developments with the ceasefire and the prospect of an agreement between the US and Iran, provided they do not prove fragile, may allow for a more positive reassessment of the prospects, but the main question is the medium-term resilience of the European economy and its potential, given that external crises (such as …
Business Continuity: The preventive shield of businesses
Businesses today are called upon to operate in an environment characterized by constant upheaval and increasing uncertainty. Geopolitical conflicts, regional tensions, economic turmoil, cyberattacks and extreme natural phenomena have long ceased to be local events, but now affect organizations on a global scale. Instead, they operate like dominoes, causing powerful ripple effects with consequences that …
What makes a business truly strong today?
Until a few years ago, a strong business was one that grew quickly. Increasing turnover, expanding its customer base and expanding into new markets were the key indicators of success. Today, however, the business environment has changed radically and with it the criteria by which an organization’s potential is assessed have been redefined. The successive …
Inflation (CPI) and GDP of an economy do not show the true picture that prevails in society
Inflation and GDP, two key economic indicators, are often presented as objective measures of well-being, but their interpretation is not always as neutral as it seems. In the public economic narrative, their use has at times led to distortions that affect the perception of real purchasing power and growth. Milton Friedman’s critique is gaining renewed …
Four Factors Besieging the Global Economy, Creating Market Uncertainty
Markets are facing an unprecedented storm as a series of interconnected risks threaten to trigger the biggest economic shock of modern times. The recent Annual Economic Report of the Bank for International Settlements (BIS) shows that there was indeed resilience, but also luck, during the first half of 2026. Moreover, it shows that risks are …
European Industry: Accelerated capital depreciation is becoming a factor of competitiveness
The agenda to boost productive investment is dynamically returning to the European spotlight, as the industrial sector is repositioned at the core of economic resilience, green transition and strategic autonomy. In this environment, experience shows that broad policy guidelines alone are not sufficient. Targeted tools are needed that reduce investment costs and accelerate the renewal …
China is gradually abandoning American debt, fearing a collapse of the US economy
For the first time since the end of World War II, the dollar is no longer seen as the sole and undisputed foundation of the international economy. It is not yet a collapse. But it is a gradual erosion of confidence that is spreading from the world’s largest economies to the central banks of emerging …