Didier Darcet
15 October 2021

Stagflation: More Than A Short-Term Risk

With inflation spreading over the world like hot lava and economic growth (especially from China) beginning to show signs of weakness, a risk much forgotten over half a century is resurfacing and fueling conversations between investors: Stagflation!

For once, let us propose a medium-term economic perspective, an attitude quite contrary to the genes of Gavekal-IS which focus on measuring situations rather than forecasting, but paradoxes have never killed anyone.

Is the shadow of stagflation an optical effect or, on the contrary, can it be projected not over a few months, but several years?