“Trade Wars, Job Cuts, Oil Surplus: A Global Balancing Act”
Today’s news shows a perilous intersection. The EU is asked by a former U.S. President, Donald Trump, to slap 100% duties on China and India, and this can spark a trade war. On the same day, Novo Nordisk, the world’s largest drugmaker by operating profit, is shedding 9,000 jobs in a sign of corporate vulnerability in a turbulent world. The IEA also reports an oil surplus build-up, and this can cause price fluctuations and economic turmoil.
The message is unmistakable: from trade through jobs to energy, the system is strained. The question now is whether the world’s leadership finds a way through these shocks without taking the balance too far.