Contrary to the many pessimistic comments, the Chinese economy seems less affected than expected by international tensions, the threat of a trade war with massive increases in customs duties as well as the reorganization of supply chains made necessary by Russia's invasion of Ukraine. The first estimate of GDP in the 2nd quarter of 2025 shows a growth rate of 5.2%, very marginally lower than that observed in the 1st quarter which was 5.4%. The official target of growth of around 5% in 2025 should therefore be achieved or, at least, approached.

This situation contrasts with the ...

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The aggravation of international tensions should not make us forget the current fragility of the economic and financial balances in which the stability of the dollar and the resulting confidence must play an essential role. In the past, taxes were successively assigned three missions: to finance public spending, then to contribute to the redistribution of income to correct inequalities, and finally, with the application of Keynesian principles, to act on economic activity by stimulating investment and household consumption through the budget deficit.

After decades during which wealth accumulated, even if it was not evenly distributed, and the exchange of goods ...

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As international tensions multiply, it is not useless, given China's weight in the global economy, to observe how the country is going through these crises and to what extent it would be affected. The growth figures for the 1st quarter have just been published. With a rate of 5.4%, compared to the 1st quarter of 2024, this result is above the official target of 5%. Given the growth acquis achieved at the end of last year, it would be logical to assume that this objective will be achieved. On the contrary, the International Monetary Fund has just revised ...

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