International Trade
International trade has risen sharply in the era of globalization. The Covid-19 pandemic, the war in Ukraine and rising geopolitical tensions are leading to a reconfirguation of value chains.
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European Union-India: Lasting Rapprochement or Partnership of Convenience?
The partnership between the European Union (EU) and India has long been limited to economic exchanges. Its political dimension has gradually developed, culminating in its elevation to the status of a “strategic partnership” in 2004. However, the failure of negotiations for a free-trade agreement in 2013 slowed this momentum. Since the early 2020s, in an uncertain geopolitical context, bilateral rapprochement has gained new momentum.
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At the World Economic Forum in Davos on January 20, 2026, Ursula von der Leyen, the President of the European Commission, stated that "geopolitical shocks can and must serve as opportunity for Europe".
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New Cold War? What New Cold War? Confronting the Geoeconomic Fragmentation Narrative with the Data
It has become widely accepted that the world economy should be seen as increasingly shaped by forces of fragmentation, resulting from geopolitical tensions. This article takes another look at this narrative, using international trade data. While an aggregate analysis is consistent with a new Cold War narrative, whereby international trade is increasingly seen as split into two blocs, this is only a mix of very different outcomes. Far from being a widespread trend, geoeconomic fragmentation of trade flows is only significant in “hotspots”: Russia's foreign trade and China-US bilateral exchanges, and the impact is massive in these cases. Outside these “hotspots”, there is no tangible sign that geopolitical tensions have been shaping international trade patterns in terms of blocs, nor is there any hint of a trend toward nearshoring – to the contrary, in fact.
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Japan is under pressure from the United States (US) on punitive tariffs and demands for increased defence spending. This has sparked deep concern over US credibility and triggered growing domestic calls for greater autonomy.
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quoted by Leila Abboud in the Financial Times
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quoted by Leila Abboud in the Financial Times
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Geoeconomics and Geofinance Initiative
To analyze the impact of power rivalries and tensions on globalization, this initiative combines economic and political expertise. In the face of growing geopolitical risk, the goal is to decipher the dynamics of reconfiguration: protectionist pressures, sanctions, restrictions, industrial policies, and economic security concerns are redefining the rules of international trade. These tensions are also transforming international financial relations by undermining the foundations of trust and reshaping the global monetary system. They raise questions about the role of several key players: sovereign wealth funds, central banks, digital platforms, multilateral institutions, and financial infrastructure operators. In a context of profound disruption, simply refining existing approaches is no longer sufficient. The initiative is designed as a flexible model, drawing on diverse expertise to offer both broad overviews and targeted analyses. It also provides a platform for stakeholders and experts from various backgrounds to debate these issues freely.