Six major trends in the global economy

We analyse six major trends that we believe are important for the global economy at present: The regionalisation of value chains and the return of capital nationalism; The low level of inflation and interest rates due to the labour market organisation; The disintermediation of corporate financing in the euro zone; The energy transition, and its effects on the affected industries (automotive, electricity , etc. ); The shift to unlisted finance; The difficulties of emerging countries with a low savings rate.