The world seems to be entering a period of interconnected turbulence: economic slowdown, geopolitical tensions, and popular protests are converging to reveal the fragility of a globalized system and the challenges facing democracies and societies in transition. This week, several events perfectly illustrate this phenomenon.
1?? Economic Slowdown and Financial Markets
Global economic prospects are marked by a slowdown: the International Monetary Fund forecasts a global growth of only 3.2% for 2025, with advanced economies plateauing around 1.5% and emerging economies growing at over 4%. In this context, financial markets are particularly sensitive to political tensions and geopolitical crises. Every signal of instability—whether from a regional conflict or institutional uncertainty—can trigger sudden capital movements.
2?? U.S. Sanctions on Russian Oil Giants: A Concrete Example
This week, the United States announced unprecedented sanctions against Rosneft and Lukoil, the two largest Russian oil companies, responsible for nearly half of the country’s production and 30–50% of government revenue. These measures include freezing assets held in the U.S. and restricting financial transactions, with a grace period until November 21 to allow importing countries to comply.
The consequences are immediate:
- Oil prices rose by 5.4%, reaching $65.99 per barrel.
- Major Chinese and Indian companies have suspended or reduced purchases, while the European Union strengthens its sanctions package.
- Moscow has labeled the sanctions as “hostile acts,” but their effectiveness in pressuring the Kremlin to negotiate remains uncertain.
This concrete example demonstrates how geopolitical decisions directly influence financial markets and the global economy—a striking example of the interconnection of crises.
3?? Suspended Reforms and Political Fragility
In some countries, economic and social reforms remain blocked by institutional crises. France, for instance, is experiencing a period of political uncertainty that slows the implementation of necessary reforms, exacerbating economic and social tensions. This inability to legislate increases market volatility and creates a vicious cycle where political instability fuels economic uncertainty.
4?? Social Protests: Morocco and a New Cycle of Demands
At the same time, protests in Morocco against the end of free university education and government economic policies show that social discontent is a powerful driver of change. Supported by student and social movements, these demonstrations highlight that economic and political tensions have direct repercussions on civil society, with potential impacts on investment and regional economic stability.
Should the unrest escalate, the royal family could face significant pressures:
- Political legitimacy under scrutiny – Growing, sustained protests may challenge the perception of the monarchy as the guarantor of stability and fairness.
- Pressure for concessions or reforms – The monarchy may need to adjust policies, increase social spending, or devolve certain powers to appease public demands.
- Economic consequences – Disruption of commerce, tourism, and foreign investment could amplify social discontent and increase the urgency for action.
- Security and international reputation – Balancing the use of security forces and maintaining international legitimacy will be critical; overly harsh repression risks backlash, while inaction could embolden opposition movements.
Even if the monarchy survives, escalating protests could reshape Morocco’s political landscape, fostering a more vocal civil society and driving structural reforms that limit absolute authority.
Conclusion: An Interdependent and Fragile World
Global economy, geopolitics, and social protests can no longer be considered separately. Russian oil sanctions, slowing growth, stalled reforms, and social movements illustrate an interdependent world where each crisis reverberates through the others.
In the face of this unstable cocktail, the question remains: how can societies, governments, and economic actors build resilience and navigate this growing complexity?