World pulling apart
Evidence of global economic and geopolitical fragmentation continues to accumulate
June has been another consequential month of global economic and geopolitical restructuring. Just over the past week, there has been confirmation of the end of the post-Cold War peace dividend at the NATO Summit, US and Israeli military action against Iran, and a rapidly weakening USD. Many core features of the global operating environment are being rewired in real time.
This note discusses seven recent global economic and geopolitical developments that provide insight into how this new world is shaping up.
Elsewhere, I recently recorded a podcast with Taimur Baig at Singapore’s DBS Bank, building on my last note (‘Capital wars’). We discussed a wide range of global macro/geopolitical issues: Trump 2.0, the different perspectives from Europe and Asia, the global economic outlook, US fiscal, capital flows, and more. It’s available at: