Chief economist @ Centre for European Reform. Eurozone macroeconomic policies | Role of 🇩🇪 🇳🇱 in EU. Formerly @ECB, @IMF, @Worldbank.https://bsky.app/profile/sandertordoir.bsky.socialhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mx4i72ytts2xIn a world where China is growing off the back of net exports, this is a powerful deterrent. So France and Germany are right to buttress the flurry of forthcoming trade measures with a second strike option in case China retaliates outside the rules. [contains quote post or other embedded content]05 Oct 2026 08:19 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mx4i72ytts2xhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mwnh5mukxs2zThe piece is auf Deutsch, and builds on my remarks for Germanys state visit to the Netherlands. So it focuses on what Germany and the Netherlands, as two of the most integrated economies in the world (boasting terrifying fiscal firepower between the two of em) can do to build economic sovereignty. [contains quote post or other embedded content]29 Sep 2026 08:50 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mwnh5mukxs2zhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mwnh23enc22zThree geo-economic philosophies are emerging. The US is a coercive superpower. China is aiming for autarky, with one-sided integration only. In a new piece, I make the case for Europe’s emerging response: networked economic sovereignty. 1/ https://www.dnhk.org/de/news/2026/vernetzte-souveraenitaet-europas-antwort-auf-china-und-die-usa29 Sep 2026 08:48 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mwnh23enc22zhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mwn7z3h3mc2dChina isn’t going to easily agree to curb its export glut. Franco-German backing for an ambitious response gives Commissioner Sefcovic some much needed leverage in his negotiations with China, ahead of the October deadline. 1/ [contains quote post or other embedded content]29 Sep 2026 06:42 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mwn7z3h3mc2dhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mwn7qcqr222dFrance and Germany are not sitting idly in the face of China shock 2.0. There’s space for rules-compliant measures: a flurry of CVDs, including on hybrids and safeguards. But Paris and Berlin are, rightly, thinking of deterrence in case Beijing retaliates outside of the rules.29 Sep 2026 06:38 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mwn7qcqr222dhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mwge6vmohk2aGreat Pignal column on the populists strange love affair with China. Centrist parties CDU/CSU, Greens SPD are mounting the defence of Germanys industry and workers from the China shock. The far-right AfD, meanwhile, barely utters a word of Beijing criticism. https://www.economist.com/europe/2026/09/17/why-europes-populists-dont-criticise-china26 Sep 2026 13:09 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mwge6vmohk2ahttps://bsky.app/profile/sandertordoir.bsky.social/post/3mvtcal276s2iEurope is putting safeguards on grain-oriented electrical steel. It comes with trade offs, especially higher costs short run. But a sensible move to secure a European supply chain of all kinds of kit for electrification. https://policy.trade.ec.europa.eu/news/commission-imposes-provisional-safeguard-measures-imports-grain-oriented-electrical-steel-2026-09-18_en18 Sep 2026 23:13 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mvtcal276s2ihttps://bsky.app/profile/sandertordoir.bsky.social/post/3mvrxjrkir22kSome reflections in today's New York Times on the lurking risk to the EU economy from low gas storages. EU governments are betting on a Hormuzian chance to purchase gas at lower prices, and if not, to outbid others. A risky bet. It'll probably be fine. Probably.18 Sep 2026 10:29 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mvrxjrkir22khttps://bsky.app/profile/sandertordoir.bsky.social/post/3mvkbs6q6622zSpaceX, SK Hynix, Anthropic/OpenAI - the US boasts a slew of blockbuster listings. Can Europe make more of its own IPOs? An important new paper from CER and Co dives right in, with some surprising findings (it’s the „quality of IPOs not quantity stupid“ being one). Recommended read. [contains quote post or other embedded content]15 Sep 2026 09:11 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mvkbs6q6622zhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mss2ppk7fm2mThat's right. German politics should dial down how seriously they take the CEO's lobbying, who have a deplorable track record of short-termism and geopolitical naivite - and make policy based on evidence and what is good for the country. [contains quote post or other embedded content]11 Aug 2026 07:10 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mss2ppk7fm2mhttps://bsky.app/profile/sandertordoir.bsky.social/post/3msrzbicedd2mGood rebuttal to Rey, Gourinchas and Gopinath in the Economist. Like many of us in Europe, Indian economists Nageswaran and Srinivas argue the undervalued yuan is not merely a reflection of domestic policy choices. Nor that China should get to adjust in its own good time. 1/11 Aug 2026 06:44 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3msrzbicedd2mhttps://bsky.app/profile/sandertordoir.bsky.social/post/3msrz3jpcfs2mHere is a basic smell test. If the Netherlands and Denmark - Germany’s neighbours - can keep pace with US growth, are EU regulations really to blame for Germany’s stagnation? The red tape Berlin needs to cut, and the deregulation it needs to pursue, are primarily at home—not in Brussels. 1/ [contains quote post or other embedded content]11 Aug 2026 06:41 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3msrz3jpcfs2mhttps://bsky.app/profile/sandertordoir.bsky.social/post/3msrx63rf7s2cWord is spreading that pockets of the European economy are blossoming. Croatia, Netherlands, Poland, Spain, Greece are also growing at a brisk pace. Those countries are in the EU single market - casting doubt on a German narrative that EU regulation is to blame for its woes.11 Aug 2026 06:07 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3msrx63rf7s2chttps://bsky.app/profile/sandertordoir.bsky.social/post/3mret4wejbk2xGood conversation with Paul Ronzheimer on Germany and China shock 2.0. Germany escaped the original China shock. This one goes straight to the heart of its manufacturing core. No surprise it's attracting international attention. Good to see Germany finally having this debate. [contains quote post or other embedded content]24 Jul 2026 07:25 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mret4wejbk2xhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mresl2h7oc2xChina flutet die Weltmärkte mit Autos, Maschinen, Chemieprodukten. Deutschland verliert monatlich 10.000 Industriearbeitsplätze. Deutschland im Epizentrum von China-Schock 2.0. Was kann die Bundesregierung tun? Darüber spreche ich mit @ronzheimer.bsky.social https://ronzheimer.podigee.io/779-die-grosste-gefahr-fur-unseren-wohlstand-mit-sander-tordoir24 Jul 2026 07:15 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mresl2h7oc2xhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mq64gigy2s2w"Europe’s Car Industry Faces Dramatic Crisis, German Lobby Says" But said lobby failed to equip the German EV subsidy with a buy-EU clause - which'd be reciprocal to China. The EU's EV duties also failed to cover hybrids - the results of which are glaring in the chart 1/08 Jul 2026 21:57 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mq64gigy2s2whttps://bsky.app/profile/sandertordoir.bsky.social/post/3mq54kkkvk22wWe Dutchies understood the case for being in the eurozone - being at the monpol decision making table in Frankfurt (with a series of very influential Dutch central bank governors no less!) beat moving interest rates 15 minutes after the BuBa. [contains quote post or other embedded content]08 Jul 2026 12:27 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mq54kkkvk22whttps://bsky.app/profile/sandertordoir.bsky.social/post/3mq54husdek2wAnyway what do I know. The global Britain business, stooled on a very special bond with America, is going really swell for the UK. And the UK economy is clearly booming outside the EU. [contains quote post or other embedded content]08 Jul 2026 12:25 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mq54husdek2whttps://bsky.app/profile/sandertordoir.bsky.social/post/3mq5466dmac2mFascinating. The argument for pooling markets/ economic power is regaining effective sovereignty, at the expense of nominal sovereignty The UK never got the distinction. The Baltics understood it like nobody else, making massive sacrifices to be in the EU/Euro https://www.koreatimes.co.kr/economy/policy/20260707/70-of-koreans-back-pursuing-eu-style-economic-community-with-japan-survey08 Jul 2026 12:20 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mq5466dmac2m