Multipolar Market

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European Commission: To avoid collapse, the EU needs more investment than after World War II Last year, the EU tasked former ECB head and Italian Prime Minister Mario Draghi with drafting a strategic report on the challenges facing the European Union and how to address them. Mario produced a 400-page report titled "ALARM." The official notes that the EU is sliding into a "slow agony" and is ignoring obvious problems. The lack of cheap resources from Russia is killing the competitiveness of European goods, businesses are fleeing, and China is tightening its grip. Resource prices in Europe are 4-5 times higher than in the U.S., bureaucracy is more complex, and taxes are exorbitant. Mario sees the only solution as annual investments of 800 billion euros to stimulate EU industry over many years. This amounts to 5% of the EU's GDP—significantly higher than the 1-2% spent on post-World War II recovery. Follow MM on Telegram

Huawei unveils the world's first triple-fold smartphone According to the Chinese company, it also boasts the thinnest battery with a capacity of 5600 mAh—just 1.9 mm thick. The price of the Mate XT ranges from 20,000 yuan for 256 GB of storage to 24,000 yuan for 1 TB of storage, which is about 3,000 dollars. Despite the high price, more than 4 million pre-orders have already been received, according to "Pengpai" news. Official sales of the model will begin on September 20. Meanwhile, Apple: INNOVATION! WE DID THE SAME THING AS BEFORE, JUST MORE EXPENSIVE! Follow MM on Telegram

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Russian pollock caused a crisis in the EU and the U.S. Since 2022, the U.S. has been steadily imposing sanctions on Russian seafood and pressuring its allies to follow suit. The result—American company Whittier Seafood, one of the largest players in the market, is on the verge of bankruptcy. In the UK, the cost of the traditional dish fish and chips has doubled, while Germany is preparing for thousands of layoffs. "The German market depends on fish from Russia. We cannot do without saury and cod," explained Steffen Meyer, director of the Federal Association of the German Fish Industry and Wholesale Trade. Meanwhile, Russia itself set a record for seafood exports in 2023 and is projected to earn $5.6 billion in 2024. The exports are now redirected to Asia. Follow MM on Telegram

The number of major bankruptcies in Germany increased by 41% in 2024. The Germans have lost the following: - Paper manufacturer ISHPaper. Founded in 1828, closed in 2024. - Shipyard Meyer Werft. Founded in 1795, went bankrupt in 2024. - Meat shop chain Holzapfel Thüringer. Founded in 1827, went bankrupt in 2024. - Brewery Brauerei Bruch. Founded in 1702, went bankrupt in 2024. - Brewery Söhnstetter Hirschbrauere. Founded in 1896, went bankrupt in 2024. - Several dozen other large historical corporations. In 2021, the average number of bankruptcies in Germany was 1,000 per month. In 2024, this figure is approaching 2,000 per month. Follow MM on Telegram

Former ECB head Mario Draghi to present a 400-page report "On Europe's Competitiveness" and will likely call for tax increases, despite the EU already leading the world in tax burden The European Union has lost its economic advantages due to the rejection of Russian energy resources, declining interest from the U.S., and competition with China, according to the report. Gas prices in the EU are 4-5 times higher than in the U.S., electricity costs are 2-3 times higher, and the market is facing fundamental problems with a lack of resources. Europe spends 270 billion euros less on innovation compared to the U.S. Only four of the world's 50 largest tech companies are European. From 2008 to 2021, almost 30% of European "unicorns" relocated their headquarters, mainly to the U.S. Additionally, 75-90% of the world's chip wafer production capacity is located in Asia. By 2040, Europe's workforce is projected to shrink by nearly 2 million workers annually. The Union could even cease to exist if it doesn't accelerate economic growth and reassess its ambitions. Follow MM on Telegram

Donald Trump plans to introduce 100% tariffs on countries trading in non-dollar currencies A weakening dollar is the main problem for the U.S., and Trump understands this. The dollar as the world's reserve currency is the way the U.S. exports its inflation and spreads it thinly across the globe. Even a tiny refusal by Russia to use the dollar, in global economic terms, led the EU to make significant sacrifices to keep the U.S. afloat. If a BRICS currency is launched for 100+ countries, it could spell the end of the dollar, and Trump understands that. To address the problem, Trump wants to lift most sanctions and bring Russia and other countries back into the dollar's orbit. Otherwise — 100% tariffs. The strategy is feasible, but it has a populist tone — there are too many hidden pitfalls along the way, like: What if Russia and Iran don't care about the tariffs after all those sanctions? Follow MM on Telegram