The Lombardy region shows a weak economic growth, with moderate projections for the future driven by the Winter Olympics. The global economy has shown resilience despite geopolitical tensions and trade barriers. A 0.5% growth in Lombardy’s GDP is forecast for 2025, with a slight improvement in 2026. The prospects for the industrial sector are uncertain, with weak growth expected in the services sector.
During his visit to Asia, Donald Trump mediated an agreement between Thailand and Cambodia in Kuala Lumpur, highlighting a step towards peace with a ceasefire and new trade agreements. Tariffs of 19% were set for certain mutual exports and Thailand agreed to reduce barriers in sectors such as medical products and food, in exchange for trade benefits with the United States. Cambodia had similar commitments, although border tensions and criminal activities persist. China felt excluded from the mediation.
During his second term, Donald Trump weakened the WTO by imposing unilateral tariffs and signing selective agreements, challenging fundamental principles of the organization such as non-discriminatory commercial liberalization. The relevance of the WTO had already been affected and its adjudicative function weakened since 2019.
The EU faces economic challenges due to geopolitical tensions and protectionism, affecting growth and investment. An analysis of global and EU capital flows up to mid-2024 shows concern over foreign direct investment and financial integration, threatened by the decline of intra-EU FDI.
Kyle Chan is a new researcher at the John L. Thornton China Center at the Brookings Institution, an expert in Chinese technology. He joined in 2025, and was a fellow at the Penn Project on the Future of US-China Relations. Previously, he researched at Princeton University and the RAND Corporation. He is interested in China’s technological development, highlighting learning, industrial policy and lessons for US technological competitiveness.
