My take on the US-China trade deal

The trade deal the US and China signed today is above all a pause in their trade dispute. That’s what makes it relevant. At a time when the trend has been to aggravate the commercial competition and the political rivalry between both giants, a lull is important. It is also an opportunity for both sides to implement some corrections and try a more constructive and balanced approach.

Therefore, I see the event with a positive eye. But I am also very much aware, like many observers, that there is deep antagonism and absolute mistrust on both sides of the deal. The Chinese do not think President Trump is constant in his political line. They are very much convinced that he can change his mind a thousand times. But for now, they bet on this deal. On the American side, they still believe the Chinese are very much determined to overtake the US economy and that they will do whatever it takes to achieve it. However, for the US leaders the deal comes at the right time. Actually, they have the advantage of controlling the agenda, a fact that is always good.

We have a little deal, that’s not bad, but we have not moved much when it comes to cooperation and trust building. In any case, a step forward is a step in the right direction. And that’s what matters.

Day 13 for the Yellow Vests

Today it was the 13^th Saturday with Yellow Vest demonstrators in Paris and other French cities.

It’s obvious the movement is still able to gather a good number of people. We can say so even if the total number of protesters today was smaller than in past weeks. The variety of reasons that bring the activists to the streets explains the numbers.

This is not a rally of dunces, as some would like us to see it. There are extremists in the ranks – militants from the far-right and from the far-left. They are trying to ride the social malaise. And they feel happy when they see cars burning or the State authority being challenged. But the majority of those on the streets is composed of people that face daily hardships and want to benefit from a safer economic environment. They are simple people, and they raise the key question about how to organise the society in developed nations at a time of big digital transformations, combined with international economic competition and the emergence of masses of skilled workers in other parts of the world.

The EU against Google: prudence, please

The European Commission´s case against Google does not sound entirely right. Google is an extremely innovative high tech company and that has allowed it to gain a greater share of the mobile devices market. Its operating systems are indeed all over the place. It means that Google is winning the competition race. But that does not prevent other manufacturers from entering the market. Some are already around and have managed to attract consumers’ attention.

Any antitrust action taken by the Commission needs to take into account the realities of market forces, particularly in a sector that requires huge investments in terms of development and research. It cannot be just a bureaucratic approach to commercial and engineering successes. In addition, it shouldn´t give room for any interpretation that could be read as disguised hostility towards large American multinational companies.