The international political and economic system is under reconfiguration, and China is fundamental for this process. China has for decades been a rapidly surging economic power, but will it continue? The country faces many challenges, and there are, as always, China observers predicting doom. This is nothing new. But just because doom-sayers have been wrong up to now, it doesn’t necessarily mean that they are wrong again. However, they probably are.

The gold price has during the last decade only gone in one direction: up! In 2025 alone, it has increased by almost 50%. Is this a bubble driven by speculation, or is something more serious going on in the world? The latter is the most likely.

We are in the middle of big changes in the global world order. As is often the case, it is difficult to perceive the magnitude of what is happening when you are in the middle of it. It is like not being able to see the forest for all the trees. But the changes are big, and I think the years 2023-2024 will afterwards be seen as the watershed years. The winners are the countries of the Global South, China and Russia. The main loser is the European Union.