International economics

Are we ready for another “China shock”?

China’s accession to the WTO in 2001 is considered as one of the largest trade shocks in recent times. Not only did Chinese goods flood world markets, but also during this period the global value chain structure of production with Asia as a pivot was consolidated. Given this previous [...]

EU-Mercosur Free Trade Agreement

On the 28th of June 2019, after two decades of negotiation, a historic trade agreement was struck between the European Union (EU) and the Mercosur trading bloc (Argentina, Brazil, Paraguay, and Uruguay). The awaited agreement is set to strengthen trade and political ties, as well as being an opportunity [...]

COVID-19: lockdowns, recession and… a new stock market bubble?

2020 has been a year marked by the outbreak of COVID-19, lockdowns and a deep recession in the world’s economy. Yet, after a first pandemic-driven low in March 2020 the Nasdaq had risen 100% towards the end of January 2021 and, along with the S&P 500 and the Dow [...]

RMB internationalization and the BRI: reality or fantasy?

The world’s largest trading nation and second largest economy, China, and its monetary and macroeconomic policy, has rightfully commanded a growing amount of attention over the past couple of decades. In line with this trend, there has been a great deal of scholarship focusing on Chinese attempts to internationalize [...]

The consequences of COVID-19 on developing and emerging economies

Dealing with COVID-19 as an illness poses a challenge to every nation but the challenges faced by developing and emerging economies (emerging market and developing economies, EMDEs) are different. Healthcare is limited: whist developed markets spend, on average 14% of GDP on health in emerging markets, expenditure is just [...]

Spain 2.0. A policy in search of a government

The upcoming elections in Spain gives the opportunity to talk about the future vision of the Spanish economy. In this vision, digitalisation should place a central role. This post outlines why digitalisation is important, why investing in digital infrastructure is not enough, and why the EU single market is [...]

Inequality in Spain: let’s focus on the poor

The debate on inequality has intensified in Spain in the aftermath of the economic crisis. There is good reason for that. As the European Commission keeps warning, Spain is one of the most unequal countries in the EU. If we take the disposable income ratio between the richest and [...]

Europe is not behind China and the US in 5G technology

The past months, dominated by news about the current trade and tech war between the US and China, have generated a strong public perception in Europe that the Old Continent has dropped behind China and the US in 5G, the key technology for the Internet of things (including self-driving [...]

Contacto | Aviso legal y política de privacidad

2012-2021, Real Instituto Elcano - Elcano Royal Institute | Príncipe de Vergara, 51. 28006 Madrid (España - Spain) | Creative Commons BY-NC-ND 3.0