Category: Global Economy
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National Industrial Policies: Between Promise and Pitfall
The Return of Industrial Strategy The global economy is once again witnessing a strong return of industrial policy—once dismissed as outdated interventionism. From Washington to Brussels to Beijing, governments are aggressively using subsidies, tax incentives, and state-backed financing to build technological and manufacturing strength. The IMF, in its recent assessment,…
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Industry as the Engine of Inclusive and Sustainable Growth
In the long journey of human progress, industry has stood as one of the most transformative forces shaping societies, economies, and livelihoods. From the steam engines of the 18th century to the artificial intelligence systems of today, industrialization has consistently expanded the boundaries of productivity and prosperity. Yet, as the…
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Canada’s Trade Dependence and the Shifting Landscape of Global Capital Flows
Canada’s economic prosperity has long been tied to trade and foreign capital flows. Exports account for nearly one-third of national GDP, and provinces such as Saskatchewan derive almost 45% of their GDP from commodity exports alone. This heavy reliance on external demand and foreign investment has historically fueled growth, but…
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“Made in China 2025” and the Global Industrial Chessboard
When Beijing launched its “Made in China 2025” (MIC 2025) strategy a decade ago, few expected it to permanently alter the trajectory of global manufacturing. Today, even though the slogan itself has faded from official speeches, its influence remains embedded in the way countries design industrial policy, manage supply chains,…
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Small Businesses and U.S. Export Growth: Between Resilience and Structural Shifts
The Unsung Backbone The story of U.S. exports is not only about global corporations but also about the vast network of small businesses that quietly fuel America’s trade engine. Nearly 97% of U.S. exporters are small firms, and their contribution extends beyond numbers—they embody productivity, resilience, and innovation. Historically, American…
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Latin America’s Trade Crossroads: Watching U.S. Tariff Shifts with Uneasy Eyes
For much of modern history, Latin America’s economic fortunes have been tied to global demand for its commodities—coffee, copper, soybeans, oil, and more recently, lithium. The region’s trade models were built around exporting primary goods and importing higher-value industrial products. This dependency makes Latin America acutely sensitive to tariff policies…
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Spain’s Economic Rebound: Europe’s New Standout Story
Spain, once viewed as one of the most fragile economies during the Eurozone debt crisis, has today emerged as Europe’s standout growth story. The transformation is not accidental—it is rooted in structural reforms, demographic shifts, and a pragmatic embrace of global opportunities. Yet, as history reminds us, sustaining momentum is…
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Why Global Imbalances Do Matter
For much of the post-war era, global economic policymakers debated whether large current account surpluses and deficits were merely accounting quirks or deeper reflections of systemic fragility. Each time the world experienced a financial shock—from the Latin American debt crises of the 1980s to the Asian financial crisis of 1997,…
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Rethinking the Energy Transition: Between Promise and Reality
The global conversation on energy transition often carries an air of inevitability—as if the march from coal and oil to renewables is a straight path. Yet, the data tell a more sobering story. In 2024, global emissions from fossil fuels rose to about 37.4 billion tonnes, underscoring that the world…
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