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💡 Did you know? Long-term interest rates have been on a downward trend since ... the Renaissance. This surprising fact was highlighted by Kenneth Rogoff, a leading American economist, in his article "Long-Run Trends in Long-Maturity Real Rates". Why does the latest issue of our monthly #EconomicBrief take this "ancient" fact as its starting point? Not for the pleasure of making economic history, but to illustrate just how counter-intuitive certain economic phenomena can be. Particularly at a time like the present, when an increasing number of unforeseen events (health crises, armed conflicts, etc.) are thwarting even the most well-founded and common-sense forecasts. In this publication, our senior economic adviser Hervé Goulletquer examines the way #economic cycles are represented, the difficulties of combating certain preconceived ideas... but also the art of breaking with certain established doctrines, as illustrated by the protectionist measures adopted by the Biden administration with regard to China. Read more here 👉 https://lnkd.in/e6NbHPCv

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