The international political and economic system is under reconfiguration, and China is fundamental for this process. China has for decades been a rapidly surging economic power, but will it continue? The country faces many challenges, and there are, as always, China observers predicting doom. This is nothing new. But just because doom-sayers have been wrong up to now, it doesn’t necessarily mean that they are wrong again. However, they probably are.

The main reason that the EU, unlike China, gave in to Donald Trump’s tariff assault without a fight, is not that the EU’s trade dependency on the US is much greater than China’s, but rather that it has other priorities, first of all Ukraine; its military depends on the US; its bureaucracy is not well fit for this type of struggle; and it lacks internal coherence if it should choose to fight back. It is therefore an easy prey for a predator like Trump.

Trump has easily rolled over his allied vassal states as the EU, Japan and several smaller countries. He says he has rolled over India too, even if that claim looks a bit dubious. But with China he finally met somebody that could give he some real resistance. First round was 1-0 to China. There are several more rounds to come. Good luck, Mr. Trump!

The gold price has during the last decade only gone in one direction: up! In 2025 alone, it has increased by almost 50%. Is this a bubble driven by speculation, or is something more serious going on in the world? The latter is the most likely.

US President Donald Trump thinks that the main problem in the US economy is the persistent deficit in foreign trade. His preferred tool is tariffs. He is using tariffs and the threat of more tariffs to impose commercial deals on friends and foes to bring down imports and increase exports. Has it worked?