Legendary investor Ray Dalio warns that the United States could “go bankrupt” within the next three years, triggering political and geopolitical consequences. In his latest book, How Countries Go Broke, he describes the mechanics of the American “Big Debt Cycle”.

Donald Trump is reshaping the global economic order by reviving protectionism. He defends higher tariffs as essential to curbing the fentanyl influx, revitalizing industry and reducing the trade deficit. His economic policies are as polarizing as they are thought-provoking. Emmanuel Todd offers valuable insights into the underlying dynamics of the American economy.