Author: Christine Schier

In his first speech as head of government, Rishi Sunak, a former Goldman Sachs banker, and the richest man in Parliament, promised to make the “difficult decisions” needed to deal with the “profound economic crisis”, due to the “aftermath of Covid” and “the war in Ukraine” that has destabilised markets the world over. He did not detail the “difficult decisions” […]

An October 7 report published by the European Round Table of Industry and annexed to a letter to the EU Commission shows the dramatic situation of European high-intensity energy sectors. Annex 1 of the report notes that “The ongoing crisis is only partly reflected in statistics, as companies are applying survival strategies, and foregoing long-term competitiveness. The real extent of […]

In addition to the European Round Table of Industry, many other warnings have been issued over the prospect of “deindustrialization” of the EU’s largest economy. The Handelsblatt of Oct. 24 discusses the fear that the difficulties of one single supply branch could paralyze production in entire industrial sectors, taking the example of hot-dip galvanizers. A recent survey shows “the full […]

On Oct. 22, the new Italian government was sworn in. Led by Giorgia Meloni, leader of the Fratelli d’Italia party (FdI), the coalition is made up of the FdI, Lega, Forza Italia and a minor party called the “Moderates”. On the surface, it looks like a pro-EU, pro-Atlantist government, but a few paradoxes could lead to surprises. The first is […]

The Communist Party of China concluded its 20th Party Congress on Oct. 23 with the introduction of the new leadership, namely the Standing Committee of the CPC Central Committee, with a reelected Xi Jinping as General Secretary. This unprecedented third term for a Chinese leader is being touted by the Western media as some form of “power grab” by Xi […]

Moves by the five BRICS countries to establish an alternative to the current unstable and unjust international financial system are attracting a growing number of other countries – including from among the West’s erstwhile staunchest allies. Thus, South African President Cyril Ramaphosa stated on Oct. 18, shortly after his two-day state visit to Saudi Arabia, that Prime Minister Mohammed bin […]

On October 19, a Chinese diplomat presented to the United Nations a joint statement issued by 25 countries against the economic sanctions, which have unfortunately become a standard tool of the trans-Atlantic powers to “punish” countries that challenge their policies. In addition to China and Russia, the statement was endorsed by 23 emerging or underdeveloped nations, including nine in Africa. […]

Events of the past week confirm the emergence of a new economic order, together with the growing revolt against the western-dictated “rules based order”. In the Global South, the refusal to be drawn into the geopolitical confrontation with Russia and China is growing, as a non-aligned movement takes form to demand an end to the modern form of colonialism, that […]

The young leadership needed, in particular in the trans-Atlantic world, to bring about the new paradigm in international relations was addressed in an all-day conference held on Oct. 15 by the Schiller Institute both online and at an-person conference in Manhattan. The event, which brought together “next generation” leaders from all the continents, but mainly from the United States, and […]

It might be unfair to blame Liz Truss for everything, but the “British bond crisis”, as it will be called, unleashed by her draft budget, has opened dangerous cracks not only among British pension funds and banks, but also on the U.S. bond market and among Swiss banks, just to mention the most visible cases (cf. below). Ultimately, British Prime […]