Trends under the Macroscope

The digitization of payments is a bold trend and it is in particular to support this digitization that central banks are working on the implementation of their Central Bank Digital Currencies (the CBDCs). Central banks are accelerating on these projects and it seems likely that there will be a digital currency war in the coming years. 

The demand for certain metals will increase dramatically with the acceleration of clean technologies. But the lack of investment in the production of these metals increases the likelihood of tensions and price increases that could ... slow down the energy transition. It seems clear that certain metals like cobalt, nickel and lithium will become central in tomorrow's economy. 

 The prices of natural gas and coal have risen sharply in recent weeks, and have reached
record levels in some cases. Nevertheless, it remains relevant to question the "right" price of fossil fuels against a backdrop of energy transition.

Digitization is virtually everywhere. It is transforming the ways of consuming and producing, and therefore the business model of companies. But just how big is the digital economy? 

Since arriving at the White House, Joe Biden has announced very ambitious climate goals. However, the success of his climate policy will depend very much on whether or not the infrastructure plans, currently being negotiated in Congress, are passed.   

While the idea that accommodative monetary policies imply an increase in inequalities, a research paper presented at the Jackson Hole central bankers conference reverses the causality and tends to suggest that it is the rise in inequalities that causes the decline in equilibrium interest rates.  

 The European climate law has been therefore
formally adopted by the European Council on June 28, after its adoption by the
European Parliament a few days earlier. The EU objective of carbon neutrality by 2050 is now enshrined in law.
The Commission will unveil on July 14 the “Fit for 55” package detailing the
measures to be taken to reach this objective.   

The US Senate has just passed a bill allowing significant investments in research and development. Its objective is to counter the emergence and the ambitions of China in the industries of the
future   

Whereas global inequalities had been falling for decades, they went up because of the covid crisis 

The recent increase in the number of cyberattacks implies that cybersecurity is becoming a very mandatory investment for companies and governments 

It is now very likely that remote working will stick. And the economic consequences of this change of the way of working are significant 

The covid crisis has raised environmental awareness, with major economies announcing very ambitious climate targets, and has exacerbated inequalities around the world, which should lead to a strong response from governments

What are the humanitarian consequences, for inflation and for farms?

How can the Biden administration’s plans for corporate tax reform lead to a real paradigm shift at the global level? .

According to a study just published,  investments in environmentally friendly projects have a much stronger impact on the economy than non-environmentally friendly investments and this being true both for energy and land use.

Including decarbonization measures and carbon capture measures in recovery packages is not just good for the planet but also a particularly effective way to revive the economy!

It is now very well known that the Covid crisis led to forced savings.  What could be the consequences for economic growth?  

Focus on the United States: whether in terms of income or wealth, the subject of inequalities will very clearly be a subject that will be discussed in the coming weeks in the United States

Would it be the fight against climate change, digitization, or even inequality, how infrastructure packages are related to megatrends?

In order to fight against gender inequalities, the European Commission published a proposal for a directive on pay transparency within companies.

The scientific community has alerted public opinion for years about the destruction of biodiversity and ecosystems. But interactions between the economy and ecosystems are still relatively little known!