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/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/3mq5466dmac2mhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpxpswq6o227Overigens is er ook een interessante vraag of je het argument “Duitsland moet fors investeren” van Tooze en co (ben ik het met eens uiteraard) kunt scheiden van de China shock. De winsten en waarderingen - en daarmee investeringsruimte - van Europese bedrijven die kampen met China dalen snel. 1/ [contains quote post or other embedded content]06 Jul 2026 08:56 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpxpswq6o227https://bsky.app/profile/sandertordoir.bsky.social/post/3mpxotiuisk2uNRC gaat er ook nog op in. Het is de moeite waard het paper echt goed te lezen. Dan dringt zich ook de vraag op waarom de export van de VS, Zuid-Korea en Zwitserland in 2022–2024 zoveel beter draaide dan die van Duitsland. Let op de specifieke jaren. [contains quote post or other embedded content]06 Jul 2026 08:38 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpxotiuisk2uhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvic4byx22sGermans new EV subsidy is succeeding to rekindle the market whilst helping to support ....China's, not Germany's own, EV production. Germany failed to equip its new EV subsidy scheme with buy-EU/buy-ally clause a few months ago - a stunning own goal. Oops 1/05 Jul 2026 11:36 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvic4byx22shttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvhm3id6e2qSome reflections and thoughts (a bit technical at times) on the Kiel Institute's important and helpful contribution to the debate on Germany and China shock 2.0. If anything, I think it's not as far apart from Brad Setser and my work as some journalists have made it out to be. [contains quote post or other embedded content]05 Jul 2026 11:23 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvhm3id6e2qhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvhl376mu2qGood papers sharpen debates. I think the Kiel paper does exactly that. It raises important questions about Germany's competitiveness—but I also think some of the reporting has stretched its conclusions further than the authors themselves. My reading below. [contains quote post or other embedded content]05 Jul 2026 11:23 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvhl376mu2qhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvhjl4kce2qOne other point folks are missing by focusing solely on 2022-2024. Some of Setser and my argument and France's Haut-commissariat à la Stratégie et au Plan is forward-looking: The trend line on Chinas export glut looks ominous - and the macro drivers behind them remain strong. [contains quote post or other embedded content]05 Jul 2026 11:22 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvhjl4kce2qhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvhhcpqm22qReactions to Kiels paper on China Shock 2.0. It's a thoughtful contribution that rightly argues EU trade defence doesn't solve competition in third markets. But contrary to some commentary, I don't think it shows German concerns about Chinese competition are wholly overblown. In-depth thread. 1/05 Jul 2026 11:21 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvhhcpqm22qhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpvgu7ak7k2qExcellent reporting by the WSJ A powerful piece of qualitative evidence chiming with hard data: „Over three-quarters of German mechanical engineering companies see competition from China as the biggest strategic challenge worldwide.“ Difficult to argue it isn’t a big deal for Germany. 1/05 Jul 2026 11:10 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpvgu7ak7k2qhttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpboly5cx22pThe Suddeutsche with the long-read on the China shock 2.0 and Germany. A great read, with nice literary language, and rather beautiful formatting. https://www.sueddeutsche.de/projekte/artikel/politik/china-arbeitsplaetze-wirtschaft-in-china-deutschland-e261869/?reduced=true27 Jun 2026 14:35 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpboly5cx22phttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpboglh52k2pGermany failed to equip its new EV subsidy scheme with buy-EU/buy-ally clauses. As VW announces a 100.00 layoffs, I doubt Berlin would make the same mistake today — just 4 months later. So it seems like a good moment to re-up Lucas, Nils and my blueprint for a harmonised EU EV industrial policy. [contains quote post or other embedded content]27 Jun 2026 14:32 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpboglh52k2phttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpbit2mg4k2sMooi en diepgaand gesprek met AJ en Rob - zoals altijd met wat humor ook. [contains quote post or other embedded content]27 Jun 2026 12:52 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpbit2mg4k2shttps://bsky.app/profile/sandertordoir.bsky.social/post/3mpa5wstkws2lEuropeans should pay attention to the legal constraints President Trump now faces on throwing tariff threats around. The IEEPA tariffs have legally collapsed, and the US has launched a bunch of poorly argued 301 cases. It'll be hard for Trump to even implement the 15% Turnberry tariff. [contains quote post or other embedded content]27 Jun 2026 00:04 +0000at://did:plc:kybgt4j3o7i7nd3aci7ldwfv/app.bsky.feed.post/3mpa5wstkws2l