“The short-term future has never been so opaque, and the medium-term future so clear.“It is with this paradoxical formula that Serge Magdeleine, general director of LCL, opened his speech during the recent Who’s Who, on the sidelines of the 40th anniversary of the sponsorship of the yellow jersey of the Tour de France by Crédit Lyonnais. A partnership that the banker claims with pride, a symbol according to him of a recognized loyalty through the most difficult eras of cycling French.
Rather than commenting on economic news that he considers too volatile to be predictive – “the price of a barrel will be between 60 and 200 dollars, inflation between 1 and 7%, GDP growth between 1% and minus 4” — Serge Magdeleine has chosen to raise the debate. Three main lines of force, he says, shape the economy of tomorrow, and every business leader must have them in mind.
The first is the end of multilateralism. The system patiently built since the Second World War – WHO, WTO, UNESCO, European Union – has been dismantled for twenty years. Donald Trump’s second term, he believes, puts an almost definitive end to this. The world is changing from the era of “lead“, fondée sur…
