“The global economy is not so bad”

Ludovic Subran, Chief Economist of the Allianz Group.

AN INTERVIEW – The economist believes that dogmatic positions are slowing down the climate transition.

Ludovic Subran is the Chief Economist of the Allianz Group.

LE FIGARO. – The Davos Forum – the annual meeting of political and economic leaders from around the world – opens on Monday. How is the world economy doing at the beginning of the year?

Ludovít SUBRAN. – Surprisingly, she's not that bad. The United States managed to avoid a recession despite a very sharp increase in interest rates. Growth is also hampered in Europe, while our energy situation is still complicated. And China is gently reviving its economy, still marred by the real estate crisis. Inflation is slowly but surely falling. Resilience therefore seems to be the key word for financial markets or global trade – despite the return of corporate bankruptcies and Red Sea attacks. I attribute this in part to election wait and anticipation, as 2024 promises to be politically confusing, from Taiwan to the United States to European elections.

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Elliot Frost

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