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Western Sanctions and Russia's Resilience: A Dead End?
According to the Russian Statistical Office, 2023 saw the gross domestic product grow by 3.6%, outpacing the average global economic growth. While data from Moscow should be evaluated cautiously, even the IMF revised its estimate to 3%, suggesting that Russia's economy has indeed grown faster than the global average. The oil and gas industry has been at the forefront of supporting Moscow's economic ...
Marine and Submarine Routes: the Red Sea and the Future of Global Trade
We tend to think of the global market as a seamless large bazaar where goods from all over the world flow with ease. In reality, it consists of countless bazaars of all sizes, connected by a circular flow of goods. The most important connections are maritime, and they are quite few. For this reason, the attacks on ships off the coast of Yemen raise concerns that may seem exaggerated, considering that ...
The Oval Office Desk and the Paradoxes of Trump’s Protectionism
In a remake of a film already seen in 2018, President Donald Trump has resumed imposing or threatening to impose tariffs on imports from the United States’ main trading partners. Now, as then, the rationale behind this escalation is twofold. On the one hand, an administration led by a “deal-maker” believes that all trade agreements signed by previous administrations (including his own, as in ...
Geoeconomics: new challenges for the ECB and the Fed
Geoeconomics is an increasingly common perspective in analyses of today’s international economic and political landscape. The recent development of geoeconomics stems from the interplay between economic analysis and political science, shining a light on the international political drivers that help explain economic policy decisions. In truth, this has long been a subject of interest for economic ...
Geoeconomics and protectionism: the harsh law of the hammer
The trajectory of globalization shows that international trade does not follow a linear or irreversible path, but reflects a fragile balance among economic interests, political power, and conflicting ideological visions. After decades of market liberalization and faith in the multilateral institutions born after World War II, today’s global economic order is undergoing profound transformation. The ...
Political-economic Dynamism and the Unknown Factor of Solidity
Africa is often portrayed in a simplistic manner, and the sum of the 54 countries it consists of - 49 in the sub-Saharan region - is inevitably depicted using short-cuts and stereotypical images. Between 1990 and 1994, most sub-Saharan countries introduced new constitutional structures, and this season of political reform served as a prelude to that of economic progress and greater interest by international ...