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</html><thumbnail_url>https://aebanca.es/wp-content/uploads/2026/01/banca-responsable-1-scaled.jpg</thumbnail_url><thumbnail_width>2560</thumbnail_width><thumbnail_height>1707</thumbnail_height><description>The forceful actions of governments and central banks will alleviate tensions and help reduce the long-term consequences of the pandemic. And the last-minute shift from trade wars to trade agreements shows that politicians understand that a poor agreement is always better than a good war. Therefore, COVID and geopolitics may not represent an existential threat to the global economy as we know it. However, there is another threat on the horizon that we may be underestimating: trade wars arising not from populism, but from the much-needed and long-overdue fight against climate change.</description></oembed>
