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EDIT. Barely recovered from the shock of Covid, the global economy is experiencing inflation and rising rates with full force. Should we fear the worst?
© Michael Nagle/XINHUA-REA
By Nicolas Baverez
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Sin the financial markets, euphoria is giving way to growing concern. The severe correction threatens to turn into a crash. The S&P 500 index has lost 18% since the beginning of the year and the Nasdaq, more than 28%. Part of technology, the fall in prices is gradually spreading to all sectors of activity, starting with distribution, which has been hit hard by soaring prices.
The crash is already effective for cryptocurrencies, whose valuation has fallen by some $ 370 billion – including more than $40 billion for Luna alone in three days –, as for NFTs and assets purchased in the metaverse. It also affects real estate in China, which accounts for 30% of GDP. Bankruptcies of developers and defaults on loans are multiplying…
De Gaulle – Think, resist, govern
His name became synonymous with a free and powerful France. De Gaulle, the man of the call of June 18, has established himself in history first as a rebel, a resistance fighter and then as a charismatic political leader, in France and abroad. Adored, hated during the time of his presidency, after his death he became a myth, an ideal of a politician that both on the right and on the left we find ourselves regretting.
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