History is full of evidence that tariffs harm economic performance. Michael Bordo and Mickey Levy assess the two waves of globalisation in modern history and how they were interrupted by tariffs and barriers to trade, and outline possible scenarios and probable outcomes
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Trump is correct to seek to revitalise American manufacturing. Stephen Ezell and Rodrigo Balbontin argue that the heavy reliance on tariffs is counterproductive and urge a smarter strategy focused on strategic investments in R&D, trade agreements, and support for innovation ecosystems
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The US dollar has dominated global finance for nearly a century. Giovanni Tria, Paul Samson and Angelo Federico Arcelli consider a proposed euro-led ‘poly’ digital currency basket to complement the dollar, that could help stabilise the monetary system
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Global political tensions have amplified economic uncertainty. Roberta Arbolino and Paolo Di Caro evaluate the negative implications for consumption, investment, and saving decisions, and for the effectiveness of structural policies
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There are moments when foundations that seem unbreakable begin to shift, says Christine Lagarde. She believes the euro could become a viable alternative to the dollar, earning the EU immense benefits, if governments could strengthen the bloc’s financial and security architecture
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For central banks to fulfil their mandates they must take account of the natural environment. Frank Elderson discusses the looming economic crisis from nature loss and the risk sitting on company and investor balance sheets
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President Trump’s sweeping ‘reciprocal tariffs’ sent shockwaves through the global economy. Maarten Verwey and Kristian Orsini introduce the European Commission’s Spring 2025 Forecast, which depicts a resilient European economy
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Ignacio García Bercero argues that the current turbulence being experienced by the world economy is also an opportunity for the EU to forge a coalition in support of rules-based trade and global trading system reform
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A sovereign Europe needs a future-proof currency, says Piero Cipollone. This what the digital euro offers – it will support innovation, reduce reliance on foreign providers and ensure secure digital payments for all
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Advances in AI are transforming the economy. Leonardo Gambacorta and Vatsala Shreeti analyse the AI supply chain and the market structure of every input layer, highlighting the economic forces shaping the provision of AI and the role of big techs in each input market
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