Du bon usage des fonds souverains

THE END OF AN ERAThe US-Israeli war on Iran, a 'little excursion' envisaged to be over within a matter of weeks, has entered its fourth month. Shock waves ripple across the globe. This war is just one in a series of recent crises which have fractured the international community, making the decades of the 2020's among the most disruptive in recent history. Each crisis compounds the deleterious effects of those which came before. The war in Iran is no exception. It abruptly stalled ec ...

With America's 250th anniversary, there will be many analyses of the country's history from domestic and international perspectives. But the meaning of the American story should also be assessed in key regional settings, from Asia to Latin America, and in transatlantic terms. In this vein, it is worth exploring the U.S. engagement in and with the Mediterranean world, one of the first places of U.S. international activism, and a setting where diverse aspects of U.S. foreign policy ha ...

This policy paper explores how China’s economic development model—rooted in pragmatism, long-term planning, and civilizational renewal—has become its most compelling soft power asset, particularly in the eyes of the Global South. While critically engaging with Joseph Nye’s original conception of soft power as a primarily cultural and normative force, the paper argues that China’s ability to transform itself from an impoverished postimperial state into the world’s largest trading nat ...

Is Europe Prepared for War?European public opinion is moving from treating a major conflict as unthinkable to regarding it as a possibility for which governments must prepare. Attention is increasingly focused on Russian hybrid operations, vulnerabilities in critical infrastructure and the risk of fragmentation within NATO. European defence policy is consequently undergoing a rapid transition from post-Cold War complacency towards preparations for high-intensity warfare. Recent ...

Cet article évalue la pertinence du paradigme de la réconciliation pour analyser la rivalité maroco-algérienne. À partir d’une démarche qualitative, historico-interprétative et interdisciplinaire fondée sur un corpus raisonné de travaux académiques et de sources institutionnelles, il montre que cette conflictualité ne se réduit ni au différend du Sahara ni à un simple antagonisme bilatéral. Elle se construit à l’intersection de mémoires concurrentes, de mécanismes de sécuritisation, ...

We Are Watching You In April 2026, the UK Ministry of Defence revealed that it had tracked a covert Russian submarine operation apparently intended to map critical undersea cables and pipelines in the North Atlantic and the North Sea. A Russian attack submarine and two specialised intelligence vessels operated by the Main Directorate of Deep-Sea Research, commonly known as GUGI, were reportedly monitored for four weeks by the Royal Navy, including HMS St Albans and P-8 Poseidon ...

Avec la capitale Pékin comme acteur principal de la politique étrangère chinoise, l’engagement de la Chine en Afrique ne peut plus être appréhendé à travers le seul prisme de l’État central. Suite aux réformes de décentralisation engagées en 1978, les gouvernements provinciaux de l’Empire du Milieu jouent un rôle de plus en plus visible et structurant, en s’affirmant en tant qu’acteurs à part entière de la coopération internationale. Ils interviennent, entre autres domaines, dans le ...

For much of the post-war period, the Global South was framed as an object of history, defined by dependency, constrained by structural asymmetries, and confined to the margins of global decision-making. That narrative, once empirically grounded, is now no longer adequate. A profound yet uneven transformation is underway. The Global South is no longer only reacting; it is increasingly shaping rules, institutions, and narratives.This Policy Brief argues that the Global South is thus t ...