Economy
The economy is an essential attribute of power and a major component of international relations. While geopolitical tensions are on the rise, economic interdependence remains strong.
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India's Modi heads to Paris as co-chair of AI summit
Indian Prime Minister Narendra Modi is visiting France from Monday as co-chair of an international summit on artificial intelligence in Paris that is expected to be attended by industry leaders, including executives from OpenAI and DeepSeek.
Trump’s Second Term: Laying the Groundwork for a New Trade War
In a statement released on February 1, 2025, President Trump announced the implementation of a 10% tariff on Chinese goods and a 25% tariff on imports from Canada and Mexico. While the former took effect via executive order on February 4, the latter were granted a 30-day reprieve. Sanctions targeting European Union (EU) products are said to be imminent.
How do maritime companies cooperate with the navies? An interview with Evan FUERY, EQUINOR
On the sidelines of the Paris Naval Conference 2025, on February 4, 2025, organized by Ifri and the French Navy (Marine nationale), Evan FUERY, Senior Vice-President for Corporate Security and Crisis Management, EQUINOR, shares insights on how maritime companies collaborate with the navies to secure maritime economy.
How do maritime companies cooperate with the navies? An interview with Christine Cabau (CMA-CGM)
On the sidelines of the Paris Naval Conference 2025, on February 4, 2025, organized by Ifri and the French Navy (Marine nationale), Christine Cabau, Executive Vice-President in Charge of Assets and Operations, CMA-CGM, shares insights on how maritime companies collaborate with the navies to secure maritime economy.
How do maritime companies cooperate with the navies? An interview with Simon Bergulf, MÆRSK
On the sidelines of the Paris Naval Conference 2025, on February 4, 2025, organized by Ifri and the French Navy (Marine nationale), Simon BERGULF, Group Representative Europe Public and Regulatory Affairs, Head of Energy transition and Operations, Maersk, shares insights on how maritime companies collaborate with the navies to secure maritime economy.
India’s Quest for Economic Emancipation from China
In October 2024, the meeting between Chinese President Xi Jinping and Indian Prime Minister Narendra Modi initiated a thaw in relations between the two Asian powers. Has India's high level of economic dependence on China played an important role in bringing about this diplomatic shift?
How Geopolitical Tensions Reshape Trade Patterns: Geoeconomic Fragmentation, or China’s Big Manufacturing Push?
A data-based analysis shows that widespread geoeconomic fragmentation of world trade is not visible, at least so far. In contrast, the geopolitically-motivated challenges to international coordination are striking, notably in relation with China's surging surplus in manufactured goods trade.
De-globalization or Re-globalization? (World Policy Conference 2024 - Plenary Session)
Saturday, December 14, 2024 - 17th edition of the World Policy Conference in Abu Dhabi, United Arab Emirates. Plenary session 3: De-globalization or Re-globalization?
Replay - The European Union in Competition with the United States and China. How to Balance Free Trade, Competitiveness and Economic Security?
Video replay from Ifri's conference, on December 3, 2024. As the geopolitical context has changed, so has the approach to international economic relations and the rules-based multilateral framework. Covid and Russia’s war against Ukraine have exposed the risks of extended supply chains and of having become dependent on a single supplier.
Thirty-five years after the fall of the Berlin Wall: what’s new in the East?
As we celebrate the 35th anniversary of the fall of the Berlin Wall on November 9, 2024, let’s start from the premise that the Berlin Wall did not “fall” on the night of November 9, 1989.
Multi-alignment and De-risking: The Global South Response to World Fragmentation
Turbulences and conflicts threaten the stability of the global order. What is the Global South’s response to these risks?
Kamala Harris's Economic Program
Since receiving the Democratic nomination in the wake of President Joe Biden’s decision to step aside in the 2024 American presidential race, Vice-President Kamala Harris has been striving to define her own policy platform to attract voters in the limited time remaining before the November 5th election. Since the economy is a central issue for American voters, Harris developed several propositions in that area.
Global Financial Shifts: The Impact of Dollar Sanctions and Frozen Russian Assets
An interview with Brad Setser, Whitney Shepardson Senior Fellow (Council on Foreign Relations) led at Ifri on September 24, 2024.
Dollar-based financial sanctions have been increasing, particularly since the beginning of the century. Is this phenomenon likely to significantly alter the international role of the dollar?
There is a lot of controversy about the in which way frozen assets from Russia’s central bank should be treated, regarding both the assets themselves and the associated revenues. What consequences do you foresee for the international financial system?
2024 Election: What's Next for U.S. International Economic Policy?
An interview with Emily Blanchard, Tuck School of Business at Dartmouth College and CEPR.
How does she see the prospects for U.S. international economic policy, depending on who wins the election in November 2024?
Gulf States: A Paradoxical Economic Lifeline for Sudan
For decades, Gulf states have provided crucial financial assistance to Sudan. Gulf interest in Sudan is driven by economic benefits and geopolitical competition, though each country has its own interests and approach.
Funding A Rival: When the United States and Europe Invest in Chinese Tech
Outbound investments into rival powers are receiving increasing political attention on both sides of the Atlantic, as competition between the United States and China intensifies. The concern lies with American and European investments in certain Chinese technologies - such as artificial intelligence, biotechnology, semiconductors, or quantum computing - which could enable China to enhance its military capabilities and thus may pose risks to national and international security.
National Perspectives on Europe's De-risking from China
The concept of “de-risking” has become a significant focus for the European Union (EU) in managing its relations with China since first proposed by European Commission President Ursula von der Leyen in March 2023. However, the interpretation and policy responses to de-risking vary across Europe, reflecting diverse national perspectives.
European Union–Republic of Korea Cooperation on Economic Security: Opportunities, Limits and Challenges
This piece is a revised version of a paper presented at the conference on “New Convergences in EU-ROK Economic Security Relations”, organised in Rome on 30 January 2024 by the Istituto Affari Internazionali (IAI).
Populism and International Relations
Populism is flourishing, in Europe and elsewhere: a populist holds power today in Argentina and perhaps tomorrow in the United States. What does its spread say about our societies? And how is it shaping them, where populists rule? Do their economic policies stand any chance of success? Do their foreign policies have a greater impact on the world around them or at home? If “Trump 2.0” comes to be, will he have a free hand? If so, what can we expect?
Macron’s China Policy: Dropping Illusions and Bringing Back Realpolitik
One may regret that France has not upgraded its China policy sooner, but it seems that the French president is now clear-eyed that it is not enough to only have a good relationship with Beijing, it is also necessary to reinstate the balance of power.
Japan Under Trump: Alliance Strains, the Push for Autonomy and Essential Partnerships
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.
Imaginary and Reality of the Franco-German border: a Laboratory for Europe of tomorrow
In Europe, the question of borders is a central issue. According to the European Parliament, border regions cover around 40% of the European Union (EU) territory, concentrate 30% of its population and produce nearly a third of its gross domestic product.
Quest for Strategic Autonomy? Europe Grapples with the US - China Rivalry
Building on the 2020 European Think Tank Network on China (ETNC) report, which assessed Europe’s positioning amid the strategic rivalry between the United States and China, this edition re-examines the geopolitical landscape in light of the Covid-19 pandemic, Russia’s war in Ukraine and Donald Trump’s return to the White House. This report features 22 national chapters and one dedicated to the EU, analysing the evolution of Europe’s relations with Washington and Beijing, the range of approaches to dealing the US-China rivalry and how these are expected to evolve.
War as Social Elevator: The Socioeconomic Impact of Russian Military Keynesianism
In order to finance its war effort, the Russian state has spent substantial sums of money and implemented a form of “military Keynesianism” that is transforming society at both the socioeconomic and cultural levels. This has partially rebalanced the wide disparities in wealth, levels of consumption, and social prestige in Russian society by granting significant financial and symbolic advantages to peripheral Russia, which has long been overlooked by the central government.
The Hunt for Economic Security: The Role of Navies in Deterring Threats to the Maritime Economy
The maritime domain is currently faced with a wide variety of threats, such as climate change, economic warfare, shadow fleet operations, protection of critical infrastructures, and illicit activities ranging from illegal fishing to piracy. Navies suffer from inherent limitations when deterring threats to the global maritime economy: their global presence and permanence limits their credibility in terms of deterrence, their focus usually set on immediate deterrence, implementing deterrence by punishment in and from the naval domain is difficult and costly.
The Contradictory Impacts of Western Sanctions on Economic Relations between Russia and Sub-Saharan Africa
How does Russia maintain economic ties with Africa despite Western sanctions? An analysis of investments, trade, and the circumvention strategies deployed by Moscow.
The Revenue Sources Sustaining Sudan’s Civil War. Lessons for the year 2023
Wars require money and resources, and often, most conflicts involve controlling sources of income and supply lines or denying them to enemies. This has been the case in Sudan’s past conflicts and is again as the civil war—between the Sudan Armed Forces (SAF), commanded by General Abdelfattah al-Burhan, and the paramilitary Rapid Support Forces (RSF), commanded by General Mohammed Hamdan Daglo “Hemedti” —has sunk into a protracted conflict.
Trump's Trade War: What Answers for the European Union?
The announcement, on April 2, 2025, of “reciprocal tariffs” by the United States has opened a sequence of profound break with decades of established trade policy practices, where the administration behaviour has been marked by dogmatic blindness, amateurism, and self-serving interests.
Migrations Between Mexico and the United States: More of the Same or a Headlong Rush?
As Trump prepares to tighten border controls with Mexico and carry out mass deportations of undocumented immigrants, Mexico is questioning the economic consequences of this migration policy and expects to have to negotiate the issue in connection with the tariffs imposed by the Trump administration.
European Startups and Generative AI: Overcoming Big Tech Dominance
Europe is at a crossroads. Faced with the domination of American Big Tech across the entire generative Artificial Intelligence (AI) value chain, from foundation models to cloud infrastructure, distribution channels, and open source, it risks long-term technological and economic decline. Yet generative AI also represents a major opportunity for economic transformation, with a potential value estimated at 1.5 times France’s gross domestic product (GDP). To turn it into a driver of renewal, Europe must move beyond the illusion of total technological independence and instead build an ecosystem that leverages Big Tech resources while strengthening its own innovation capabilities.
Ifri, a foundation recognized as being of public utility, relies largely on private donors – companies and individuals – to guarantee its sustainability and intellectual independence. Through their funding, donors help maintain the Institute's position among the world's leading think tanks. By benefiting from an internationally recognized network and expertise, donors refine their understanding of geopolitical risk and its consequences on global politics and the economy. In 2026, Ifri partners with over 90 French and international companies and organizations.
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.