This year, the major topics of the CEPII's work programme emerge from the current gloomy context: the energy transition, the resilience of value chains, impacts of geopolitical tensions, the macroeconomic situation marked by new budgetary priorities and the tightening of monetary policies.

The Ukrainian conflict has brought to the forefront the issue of Europe's dependence on hydrocarbon imports. Trade data are the usual source to construct a measure of interdependence between states. In the case of natural gas, however, they do not provide a reliable picture of actual flows.

The Covid-19 pandemic has revealed the vulnerability of the Old continent to drug-supply disruption. Europe nevertheless remains, by far, the leader in the global trade of pharmaceutical products. Article published in The Conversation on May 31, 2020

Vietnam opening up and development are closely linked to the strategies of multinational companies at the heart of the transformation of economic structures. In spite of international trade tensions, Vietnam seems to be taking advantage of this by acting as a conduit for Japanese, Korean and Chinese companies to export to the United States.

Vietnam has opted for international openness since 1986 to create a “socialist market economy”, which has allowed it to experience vigorous economic expansion. Its integration into the world economy has made it an important link in international value chains, massively importing components from China and Asia in general, and exporting, as massively, finished products to the United States and Europe.

CEPII offers an enhanced version of the Country Profiles ?the online interactive pages elaborated from its own databases? which present the insertion of 80 economies in world trade. These free of use data are provided in the form of didactic illustrations for informational, educational and research purposes.

The US trade policy is severely destabilising the international trade system. The European Union is fighting to maintain the latter's stability, which is under dire threat. This text has been first published for the Schuman Foundation.

The day that France's parliament voted a so-called GAFA tax of three percent on revenue earned on French soil for big tech companies that hang their fiscal hat abroad, the Trump administration is paving the way for retaliatory tariffs.

Europe’s competition policy has successfully contained the rise in concentration and excess profits, and the EU should not follow the US in weakening its approach. Instead, the EU needs to strengthen its trade policy to be more assertive on reciprocity in market access and control of industrial subsidies.

China's international expansion follows multiple paths: trade, investment, finance and currency, to focus on the economy. In doing so, it pursues different objectives. The new roads project appears to be the way to provide a flexible framework for China's overall strategy. However, we can question its feasibility.