Jacques-Olivier Martin: “Bad weather for the next president”

What if France plunged into recession at the start of the next five-year term?

Let's not play ominous birds, but black swans are everywhere, and that doesn't bode well.

In addition to the high inflation caused by shortages, there is the war in Ukraine, which is driving up the prices of energy and raw materials and disrupting trade flows.

And then, the threat of a containment of China, increasingly powerless in the face of the Omicron virus and its variants, is already looming.

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The economic slowdown is a reality, its strength remains to be seen.

Germany, very dependent on Russian gas and the Chinese economy, is the most vulnerable European country.

Forecasters already downgraded its growth outlook a few days ago.

Italy followed by cutting its GDP growth for 2022 by a quarter. France will not escape this.

If China closes down in the coming weeks, the entire global industrial machine will seize up.

Growth will not resist...

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