Economy facing disruption

The last 3 years have been years of multiple and simultaneous shocks and crises, unprecedented for the global economy: it is indeed because of the accumulation linked to the severity of these shocks that we can now see a change in the nature of the consequences on the economy, and thus speak of ruptures.

The 2008-2009 crisis was the most serious global financial and economic crisis since 1929; the eurozone sovereign debt crisis that culminated in 2011 was of considerable systemic proportions. However, in both cases, the financial triggers of the crisis were relatively “classic”.

On the contrary, the global economy has been hit by real earthquakes in recent years: the crisis since “free trade reigned supreme”, the disruption of supply chains after Covid-19, the end of relative “economic peace” since Russia’s invasion of Ukraine, and its consequences in terms of massive inflation. Does the global economy now need to react and adapt its mechanisms and ambitions to the challenges revealed by these polycrisis? How can it transcend these multiple ruptures?