Geoeconomics 101: implications for the dollar, emerging markets and beyond | 29 Jan 2026 | DB Research
**Overall Strategic Conclusion** We are entering a structurally more fragmented global system where: - Economic policy is weaponised - Defence spending structurally higher - Financial networks politicised - Commodity control strategic - Tech stack dominance decisive - Dollar dominant but gradually diversifying - Europe structurally behind - EM volatility structurally higher
Currencies & FX
