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From Savings to Development: The New Frontier of Growth
With 5.3 trillion euros in financial assets, Italy has the potential to transform its economic future. Overcoming the debt narrative and leveraging these resources for true development is a crucial challenge. Financial education, structural investments, coherent fiscal policies, and new financial products are the pillars on which to build a bridge between savings and the real economy. Opening the ...
Capital Markets A Key Asset for Growth
The coming months will be crucial for thinking about how to shape the European Single Market and how to make the European Union competitive with other economies. The values at stake, compared to the size of the United States on the one hand and China on the other, would be enough to justify the reasons for accelerating the path of political integration. This would enable the economic systems of the ...
Artificial Intelligence, Stock Markets, and “Newton's Lesson”
Stock markets are in good health, but AI-related stocks are performing even better: within the generally positive trend of stock prices, the performance of companies associated with so-called artificial intelligence stands out. It is undeniable that the applications of technologies for the production and distribution of information and knowledge, summarized under the term "artificial intelligence," ...
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 ...
European Capital Markets: The Lost Decade and Draghi’s Wake-Up Call
European stock markets are thriving, but this is not necessarily a sign of a broader positive trend. In fact, if politicians and bureaucrats fail to act, the Union could lose the historic opportunity to create the European capital market it so desperately needs, especially in light of the challenges posed by the "Three Ds"—deglobalization, demographics with declining birth rates, and decarbonization. ...
Public debt and interest rates: the compass dilemma
Let’s start with the facts. The incoming German government coalition has reached an agreement to increase public spending by 500 billion euros, easing both formal and cultural constraints on spending, deficits, and debt – particularly with regard to defense. Following the announcement, German bond yields rose. But does this market reaction reflect optimism or concern? An empirical analysis applied ...
The shortcut of protectionism: external solutions for internal problems?
“Amor, ch'a nullo amato amar perdona.” Throughout the Inferno, many sinners offer justifications or shift the blame onto others, trying to elicit pity from Dante the pilgrim or to rationalize their eternal torment. This tendency highlights Dante’s view that sin is a deliberate act of will, and that trying to escape responsibility is itself part of damnation. Of course, protectionism is not a ...
Doing business in a changing world: how Italian managers can lead the future of export
Director Battocchi, the global landscape is entering a new cycle of tensions and instability. Amid regional conflicts, trade restrictions, and the renewed focus on economic security, how are Italian companies coping with these shifts in their international operations? The Italian economy is highly diversified across sectors. We rank among the world’s top three exporters in roughly 1,000 out of 5,000 ...
Apple at a critical crossroads: dependence on China and the tariff war
"Designed by Apple in California. Assembled in China." The presentation of the first iPhone by Steve Jobs on January 9, 2007, in San Francisco, California, went down in history not only for its theatricality but, above all, for its vision. The live demonstration of an entirely new product, which introduced so many innovations, literally marked the beginning of a new era – both in technology and ...