Yves Jégourel

Multilateralism: What is the Political (Geo) Resonance for Steel? / Multilatéralisme : Quelle Résonance (Géo) Politique pour l’acier ?

Published: 2017
While energy products are clearly at the heart of geopolitical relations, other commodities cannot be neglected to explain certain developments in the international economic and political scene. Steel has been one of these since the 19th century. What about today ? In the context of slow domestic demand, the considerable expansion of Chinese production and also of its exports weigh heavily on the health of "historic" steelmakers. Anti-dumping measures were therefore adopted in the United States, Europe or Morocco with the aim of restoring the competitiveness of local industries in the international markets. It is up to the appropriate authorities to assess the legitimacy of such measures, but it is important to note the importance of the political stakes in this field, both nationally and internationally. / Si les produits énergétiques sont de toute évidence au cœur des relations géopolitiques, d’autres "commodities" ne peuvent être négligées pour expliquer certaines évolutions de la scène économique et politique internationale. L’acier compte parmi celles-ci et ce, depuis le XIX siècle. Qu’en est-il aujourd’hui ? Dans un contexte d’une demande interne atone, l’expansion considérable de la production chinoise mais également de ses exportations pèsent lourdement sur la santé des sidérurgistes "historiques". Des mesures anti-dumping ont ainsi été adoptées aux Etats-Unis, en Europe ou au Maroc dans le but de restaurer la compétitivité des industries locales sur les marchés nationaux. Il appartient aux autorités compétentes de juger de la légitimité de telles mesures, mais force est de constater toute l’importance des enjeux politiques dans ce domaine, qu’ils soient nationaux ou internationaux.

2016: Rebound Year for Hard Commodities?

Published: 2016
The prices of non-renewable commodities rebounded during the first four months of 2016, after registering significant declines in 2015, resulting in a key question for many countries and economic stakeholders: can November 2015 be regarded as the low point of the cycle, suggesting a markets recovery, if not sustained, at least sustainable? The hypothesis seems reasonable, but recent crude oil developments have shown that the precautionary principle must prevail when attempting to predict the development of commodities prices. A speculative surge, a temporary upturn linked to supply pressures and a substantive improvement in fundamentals? One aspect seems nevertheless certain, that the price volatility will remain high for the duration of 2016.

Managing Natural Resources: an Attempt to Clarify the Debate

Published: 2016
The Management of natural resources is a matter of great importance, both politically, socially, environmentally and economically. The subject is, though, vast and varied and sufficiently legitimate to clarify the terms of the debate. Since it obviously cannot be claimed to present a complete and exhaustive picture, this policy brief sets out to identify some of the substantive issues tied to natural resources, from an economist’s perspective.