INTRODUCTION 6

By Marc-Antoine Faure and Sébastien Jean

INDIA: MANAGING INTERDEPENDENCE IN TENSE TIMES 18

By Suman Bery

WILL THE TRADE WAR BENEFIT THE GLOBAL SOUTH? 21

By Hakim Ben Hammouda

SOUTHEAST ASIA’S RESPONSE TO THE RESHUFFLING OF INTERNATIONAL CONOMIC RELATIONS 25

By Françoise Nicolas

GLOBAL IMBALANCES AND MACROECONOMIC POLICIES 29

By Dorothée Rouzet

THE CHALLENGES OF RISING GLOBAL IMBALANCES 33

By Brad Setser

GEOECONOMICS AND GLOBAL IMBALANCES 37

By Jean Pisani-Ferry

ECONOMIC SECURITY IN A CHANGING WORLD 40

By Emily Blanchard

THE FUTURE OF FINANCIAL MARKET INFRASTRUCTURES 45

By Brigitte Daurelle

THOUGHTS ABOUT EU’S ECONOMIC SECURITY 50

By Denis Redonnet

CHOSEN RIVALRIES, CHOSEN PARTNERSHIPS: INDUSTRIAL POLICY AND THE NEW GEOECONOMICS 55

By Mathilde Lemoine

EXPORT CONTROLS IN A TRANSACTIONAL ERA 60

FROM SUBSIDIES TO SUPPLY-CHAIN RESILIENCE 63

By Marion Jansen

THE WORLD TRADING SYSTEM UNDER DUAL PRESSURE 66

By Sébastien Jean