European exporters, especially France, have lost significant market share over the past two decades as China emerged as a global exporter for manufactured goods.
European SMEs: 7-15% at risk of insolvency in the next four years
While state support softened the blow of the Covid-19 shock, we find that 7%, 13% and 15% of SMEs in Germany, France and the UK are still at risk of insolvency in the next four years.
Liquidity matters: Corporates may need half a trillion of additional working capital requirement financing in 2021
Large companies will face a record increase in WCR in a context of a strong demand rebound triggered by the grand reopening, alongside severe shortages in inputs, labor and final goods.
Global trade has bounced back stronger than expected so far in 2021, driven by input restocking and shipping constraints rather than supply-demand dynamics.
Abolishing fuel subsidies in a green and just transition
Abolishing fossil fuel subsidies and directing the funds to renewable energy seems like an easy win for the climate. But getting rid of them comes with steep costs for consumers, particularly the poorest households.
