Snapshots

Romania

Supporters of the far-right Romanian politician Calin Georgescu take part in an anti-government protest in Bucharest on March 1, 2025. 

Military & Security

Politics

Georgescu's disqualification will worsen Romania's increasingly polarized political climate, heightening the risk of violent protests and strengthening alternative far-right candidates in the May election rerun.

Romania's Political Crisis Worsens After Far-Right Candidate Barred From Presidential Rerun

Europe

Germany

A German flag flies above the Reichstag, the building that houses the Bundestag, on July 23, 2022, in Berlin. 

Economics

If approved, the constitutional reforms and unprecedented fiscal stimulus would unlock massive military spending and revitalize the German economy. 

German Parties Propose a Historic Overhaul of Spending, Defense Policies

United States

China

U.S. policy shifts under Trump and China's ongoing economic malaise will leave highly indebted, low-income countries at greater risk of financial and political distress over the next year.

U.S. and Chinese Economic Uncertainty Worsen the Global Macro Environment

Chinese President Xi Jinping (center) and other senior leaders applaud at the closing session of the Chinese People's Political Consultative Conference, or CPPCC, on March 10, 2024, in Beijing, China. 

U.S.-China Relations

The annual legislative conference will reveal more details on how China plans to support its sluggish economy and protect it from Western restrictions, though major stimulus measures remain unlikely.

China's 'Two Sessions' Meeting Will Shed Light on Economic Support, Trade Resilience Plans

Chile

Chile's President Gabriel Boric speaks during the "Palestinian Christmas: From Bethlehem to Chile, a light of hope" ceremony in Santiago on Dec. 17, 2024.

Social Issues

During his last year in office, Chilean President Gabriel Boric will moderate his economic policy and bolster security to unify his coalition and reflect voters' changing priorities.

In Chile, What To Expect From Boric's Last Year in Office

Ukraine

Russia

Minerals are loaded onto trucks at an open-pit mine in Ukraine's Donetsk region, near the frontline of the war with Russia, on Feb. 26, 2025.

Russia-Ukraine Conflict

The deal, while largely political for now, could influence the course of the war by justifying continued U.S. aid to Ukraine, potentially delaying any ceasefire with Russia.

The Viability and Potential Impact of the U.S.-Ukraine Minerals Deal

Brazil

Former Brazilian President Jair Bolsonaro speaks at a seminar in Brasilia, Brazil, on Feb. 20, 2025.

The former president will likely be convicted on charges that he helped stage an armed coup in 2022. But the far-right will remain strong, potentially threatening President Lula's re-election bid next year.

What Bolsonaro's Likely Arrest Means for Brazilian Politics

People wave Romanian flags and hold portraits of far-right presidential candidate Calin Georgescu during a protest in front of Romania's Constitutional Court in Bucharest on Jan. 10, 2025. 

The crisis is raising the risk of a far-right president taking office that would disrupt foreign policy and, less likely, a far-right prime minister that would strain EU relations and jeopardize crucial funds from the bloc.

Romania's Deepening Political Crisis Risks Empowering the Far-Right

France

French Prime Minister Francois Bayrou (center) addresses the National Assembly in Paris, France, on Feb. 5, 2025, ahead of a vote on a no-confidence motion against him. 

The approval of a budget for 2025 averts an immediate political crisis and offers short-term relief to markets, yet France's politics are still unstable and its medium-term fiscal policy direction remains uncertain.

France Passes Its 2025 Budget, but Political and Economic Challenges Persist

Stacked shipping containers are seen at Yantian Port in Shenzhen, China, on Dec. 1, 2024. 

Global Trade

While a resolution on stemming flows of Chinese fentanyl to the U.S. market is possible, a comprehensive trade deal is still unlikely due to the wide scope of U.S. grievances and China's reluctance to concede on sensitive issues.

New U.S. Tariffs on China May Be Negotiable, but a Broader Trade Deal Remains Unlikely

The U.S. and EU flags are seen next to each other.

If Trump makes good on his threat, the EU will impose retaliatory tariffs on U.S. goods while simultaneously pursuing talks with the White House to avoid a lengthy and economically costly trade war.

Gauging the EU's Response to Potential U.S. Tariffs

United Kingdom

The Bank of England is seen in London, the United Kingdom, on Sept. 19, 2024.

If market pressures persist, the Labour government may have to impose spending cuts or tax hikes that would derail its economic initiatives and make it all the more unpopular.

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