While in the U. S. the real economy remains resilient and investors fear a slowdown due to a more restrictive monetary policy, the euro zone is suffering from its energy dependence on Russia. This could consolidate a "stagflation" for a longer time.

Stagflation and deglobalization are weighing on the global economy. The U.S. is likely to be least affected, the euro area most. China's economy depends on its covid policy, the financial risks in the real estate sector, and its positioning in the Uk ...

In a new era, the Eastern dictatorships of Russia and China compete with Western democratic civil societies. The West is clearly superior both economically and militarily, but only if it stands together.

In the event of renewed capital outflows, developing and emerging economies with robust political structures will best weather a new taper tantrum.

In 2020 for the first time there was an economic crisis accompanied with a decrease in the number of insolvencies. Why was it different?

Despite the worst post-war recession, fewer companies in Germany filed for insolvency in 2020 than at any time since 1994. How many insolvencies were postponed and how high is the risk that they occur in 2021?