Internationalism No. 81, November 2025 Page 11 The global economic landscape features rapidly changing scenes and moods. Donald Trump’s tariff war seems to have stabilised, but challenges and truces have become the norm between the United States and China; in Europe, the search for new trade agreements is intertwined with the start of a powerful rearmament; expectations raised by epochal technological innovations such as artificial intelligence are attracting hundreds of billions in investment and, with the same fervour, fuelling fears of a bubble that will pulverise investors if it bursts; the muscular posture of the United States reveals its senility in its wavering and grotesque movements, in the paralysis of shutdowns , and in the decline of the dollar, while gold reaches unthinkable heights. Optimism and pessimism alternate, between fabulous profits and huge debt exposures from which unexpected crashes emerge — and all this i...