Iran – USA: the global economy as a battlefield
It began with bombs and missiles, but the war between Iran and the US is now increasingly being fought on the economic front: Tehran is blocking oil shipments, driving up inflation and interest rates worldwide. The US government is attempting to bring
Interest rates are rising: a step back in time
Government debt is rising, particularly in established industrialised nations, whilst interest rates are on the rise. The yield on 30-year US government bonds has now returned to around 5.2 per cent. This is putting pressure on public finances. “However,
USA versus China: The Decision Will Be Made in the Western Pacific
Military exercises scaled back: South Korea and the United States are reducing the scope of their joint drills as the Western Pacific becomes the geopolitical epicentre of global tensions. Strategic competition between Washington and Beijing is
The automotive industry: conquering the rest of the world with China
Whilst European car manufacturers are battling for market share in China, the competition has long since shifted to other regions. Emerging markets are becoming the new battleground, and Chinese manufacturers are already leading the way there. “Emerging
AI – from the stock market bubble to the investment bubble
The AI boom is increasingly being seen as a credit-fuelled investment bubble with potentially greater systemic risks than the dot-com crash of 2000. Investors must therefore remain vigilant. “Free cash flow and balance sheet quality are coming into
Active or passive investment: it all comes down to the combination
Passive investments such as exchange-traded funds (ETFs) have become increasingly widespread, as they are simple and cost-effective. However, this does not mean that active portfolio managers have had their day. “Every market calls for different
Immigration – a Topic for Investors
Migration is a fiercely contested area of public policy. Yet one aspect is often underestimated: the German labour market is undergoing a profound demographic transformation. Without immigration, the potential labour force would already be shrinking.
Growth Does Not Always Have to Be Driven by AI
Spain is not only the World Champion, but also Europe’s growth star. Its economy is expected to expand twice as fast as the eurozone this year. The boom is not being driven by artificial intelligence, but by immigration, tourism and broad economic
An Island as a Concentration Risk
The intensifying rivalry between the United States and the People’s Republic of China is shaping global affairs, both politically and economically. For now, the conflict is still playing out primarily through trade policy. However, a military
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