Shahin Vallée
@shahinvallee.bsky.social
Economist, think tanker. senior fellow DGAP, board member Observatory Group
Fantastic piece, highly recommend it. As @shahinvallee.bsky.social argues, the EU has good reasons to focus on AI adoption rather than innovation. But from what I read China is betting heavily on industrial AI adoption too. The key question is how Europe can still eke out an edge in this area.
Finbarr Bermingham@fbermingham.bsky.social · 3w agoNew from me - The Mistral paradox: Europe’s push for tech sovereignty relies on China’s AI What one quiet line says about Europe's duelling political and commercial incentives
Hungary's new government is tested very early. Paks nuclear plant is about to go offline for the first time in 44 years because the Danube is drying up. That's nearly half the country's electricity. Collapsed supply & gas prices spiking throughout the region. Just brutal. apnews.com/article/hung...
Hungary braces for a full shutdown of the Paks nuclear plant as the Danube River hits record lows
Hungary's only nuclear power plant is shutting down for the first time due to record-low water levels on the Danube River.
apnews.com
France should rightly celebrate this www.ihes.fr/en/hong-wang...
Hong Wang, Permanent Professor at IHES, awarded the 2026 Fields Medal - IHES
- Hong Wang, mathématicienne chinoise de 35 ans, spécialisée en analyse harmonique, s'est vue décerner la médaille Fields à l'occasion du Congrès international des mathématiciens.
ihes.fr
A new quickie on global imbalances and exchange rate policy coordination www.intereconomics.eu/contents/yea...
From the Plaza Accord to the Busan Truce and Back
Intereconomics is an academic journal that publishes articles by experts on current economic and social policy issues affecting Europe.
intereconomics.eu
New Merz quotes on China from an exchange in the Bundestag today. The tone is getting sharper substack.com/profile/2516...
Noah Barkin (@noahbarkin)
German Chancellor Friedrich Merz answered questions in the German parliament today and there were several on China, including on trade and the role of Chinese suppliers in Germany's telecommunications...
substack.com
My Trade Secrets today. The EU's done climate change the economist's way, pricing CO2 emissions & incentivising global adoption. But it's outflanked by China's greentech mercantilism, developed mainly for non-environmental reasons, & Trump's accidental Iran war carbon price hike. Funny old world.
China and the US, accidental climate saviours of the world
The EU carbon pricing model is being supplanted by Beijing’s green tech spending and Donald Trump’s oil price shock
as.ft.com
Very interesting paper and thread by friends on the tensions between inflation fight and accelerating the transition (which is key to anchor long term inflation expectations).
Benjamin Braun@benbraun.eurosky.social · 3mo agoThe ECB just hiked into an oil price shock, again. In our new paper for the EP Monetary Dialogue, we argue that this needs to stop. 🧵 If inflation is a function of the energy mix (✅) and the energy mix a function of monetary policy (✅), then even a narrow reading of the ECB’s mandate ... 1/
www.cfr.org/articles/cur... new piece with Brad Setser building on what currency arrangements can bring to global rebalancing
Currency Moves Can Drive Rebalancing | Council on Foreign Relations
The currencies of Asia’s major economies are all substantially undervalued
cfr.org
Sure why not *SPACEX BANKERS PREPARING FOR BOND SALE OF AT LEAST $20 BILLION
Le G7 d'Évian s'ouvre aujourd'hui — et pour @shahinvallee.bsky.social et Brad Setser, une dimension fondamentale de la géopolitique contemporaine y est négligée. Tout le monde refoule la guerre des changes. Nous courons le risque d’une déflagration.
Le G7 d'Évian fait apparaître l’angle mort de l’économie mondiale | Le Grand Continent
Tout le monde refoule la guerre des changes. C’est un problème.
legrandcontinent.eu
The collapse of FCAS is the tip of the iceberg. Germany and France have failed to set out a common vision for any of the major challenges that Europe faces. The next test will be China giftarticle.ft.com/giftarticle/...
Europe’s fighter jet fiasco
The collapse of Paris and Berlin’s joint venture raises the question of whether either country can do defence alone
giftarticle.ft.com
While I have well-known reservations about certain aspects of the Global Imbalance debate (see pinned tweet), I am 100% on board with the idea that the RMB should appreciate significantly from here (as indeed should all Asian FX). www.foreignaffairs.com/china/real-p...
The Real Problem With Global Trade
How China’s currency manipulation is warping the world economy.
foreignaffairs.com
Très bel hommage de @faizazer.bsky.social à Mehdi Charef. Tristesse d’apprendre sa disparition, et souvenir ému d’avoir restitué quelques-uns de ses mots sur scène, jadis… 😢
Mediapart@mediapart.fr · 3mo agoMehdi Charef : mort d’un éternel pionnier de la littérature de l’immigration Par @faizazer.bsky.social
Nous avons beaucoup de chance de bénéficier sur ce réseau des analyses du chercheur @sebastianjroche.bsky.social, spécialiste de la comparaison des systèmes de police. Suivez-le si ce n'est pas encore le cas et lisez son dernier entretien dans l' @humanite.fr : www.humanite.fr/politique/ex...
Sebastian Roché, sociologue au CNRS : « la France se singularise en Europe par la répétition des brutalités policières et des décès lors d’interventions » - L'Humanité
Le sociologue Sebastian Roché, directeur de recherches au CNRS et auteur du livre la Police contre la rue (Grasset, 2023), analyse les raisons et les conséquences possibles du vote d...
humanite.fr
1/4 Good Brad Setser and Shahin Vallée piece on the role of currencies in trade imbalances: "Economists in the aftermath of World War II understood the connection between currencies and the balance of trade." www.foreignaffairs.com/china/real-p...
The Real Problem With Global Trade
How China’s currency manipulation is warping the world economy.
foreignaffairs.com
It’s a pleasure to welcome Emmanuel Moulin to his first Governing Council meeting following his recent appointment as Governor at the Banque de France. Bienvenue cher Emmanuel !
How did they not come up with something better in the MONTHS they had to prepare the FCAS cancellation?! No plan B on the fighter; French press (and others) report it was Berlin which ended it; Spain (the third partner!!) nowhere to be seen. They didn’t even manage to end this mess correctly 🤯
Speaking in Madrid yesterday, Pope Leo XIV stated: "I encourage you to nurture the process of the European Union, which is not merely a counterweight to other powers, but a gift to humanity."
What areas are ripe for G7 cooperation on economic security? Thanks to @ecfr.eu @agathedemarais.com for herding the cats on these T7 proposals think7-2026.org/wp-content/u...
think7-2026.org
Fomo
Benjamin Braun@benbraun.eurosky.social · 3mo agoKicking off the Political Economy of Finance summer school v.3. At @lse-ei.bsky.social for the first time. Topic: “Finance and democracy”. Day 1: My co-hosts @mkblyth.bsky.social and @realbrianjudge.bsky.social in the morning, then @anninak.bsky.social, now @marionf.bsky.social.
Good story from the FT: Morocco is being used as a backdoor into the EU by Chinese firms across the auto supply chain. Unless the EU develops a response, its EV tariffs and FDI conditioning push will all be for naught. www.ft.com/content/706c...
EU frets as China builds an industrial base in Morocco
Billions of dollars of investment raise concerns that subsidised goods could swamp European manufacturers
ft.com
Sefcovic on how Chinese competition is affecting Europe: “We are talking about factories, the whole sector sometimes — industries with many, many years of tradition. And we simply can’t just look on while these industries are lost.” @andybounds.bsky.social www.ft.com/content/7ba2...
The EU’s ‘Mr Fixit’
‘I’m telling our UK friends: we are not greedy,’ says the bloc’s trade commissioner Maroš Šefčovič
ft.com
I grew up watching Arte documentaries and if you ever told me I'd be in one on Money, I'd have laughed incredulously. www.arte.tv/fr/videos/12...
Money (4/12) - Le roi dollar - Regarder le documentaire complet | ARTE
En 1971, le président Nixon annonce la fin de la convertibilité du dollar en or, bouleversant le système économique mondial. Pourtant, le dollar demeure la valeur refuge du monde entier et conserve so...
arte.tv
Germany is the epicentre of the China Shock 2.0 reverberating in global markets In a new joint paper, CFR's Brad Setser and I show the shock is a key driver of Germany’s economic malaise. And it's accelerating Berlin needs to stop admiring the problem, and join efforts to fight back 1/many
This is pretty inevitable, given the cost of transporting EVs from China. The big question is technology transfer to European companies, or lack of it. www.ft.com/content/96fb...
Stellantis strikes deal to build Dongfeng cars in France
Jeep and Peugeot owner to make Chinese group’s high-end vehicles at underutilised Rennes plant
ft.com