EPISODE · Feb 15, 2026 · 1H 9M
Louis-Vincent Gave: Why CHINA WON the trade WAR
from Macroscopic Podcast · host GoldRepublic
Louis-Vincent Gave argues we’re in a synchronized global reflation. Fiscal deficits are expanding, central banks are accommodating, yield curves are steepening, and commodities are breaking out. Financials, metals, emerging markets and Latin American debt are responding accordingly. The key risk? Not the Federal Reserve tightening—but energy prices or a bond market revolt. On China, he makes a blunt case: the US tech war forced Beijing to de-risk and upgrade. The result is a manufacturing leapfrog, a structural equity bull market, and a gradual push toward renminbi internationalization. He explains why the Hong Kong dollar peg still holds, why RMB bonds outperformed for a decade, and why he’s now backing Chinese equities over bonds. We also cover gold vs US Treasuries, central bank buying, the shift in FX reserves, and why energy—not precious metals—may be the real macro pivot from here. Serious macro positioning for a changing monetary order. 📲 Download the GoldRepublic app: - Google Play: https://play.google.com/store/apps/details?id=com.goldrepublic - Apple Store: https://apps.apple.com/nl/app/goldrepublic/id475643876 🟠 Buy and store physical allocated gold, silver and platinum. 👉 Open an account: https://bit.ly/38stf7p ⚠️ DISCLAIMER ⚠️ The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of any entities they represent. The information provided in this video statement is not an offer, investment advice, or financial service. It is also not intended to encourage you to buy or sell a product or to purchase a service from GoldRepublic, nor as a basis for an investment decision. A decision to invest in a GoldRepublic product can and may only be based on the information contained in a final prospectus and any Key Investor Information and other information about the product concerned (such as annual or semi-annual results). This information is available on the website (www.goldrepublic.com). If necessary, call in an advisor.
What this episode covers
Louis-Vincent Gave argues we’re in a synchronized global reflation. Fiscal deficits are expanding, central banks are accommodating, yield curves are steepening, and commodities are breaking out. Financials, metals, emerging markets and Latin American debt are responding accordingly. The key risk? Not the Federal Reserve tightening—but energy prices or a bond market revolt. On China, he makes a blunt case: the US tech war forced Beijing to de-risk and upgrade. The result is a manufacturing leapfrog, a structural equity bull market, and a gradual push toward renminbi internationalization. He explains why the Hong Kong dollar peg still holds, why RMB bonds outperformed for a decade, and why he’s now backing Chinese equities over bonds. We also cover gold vs US Treasuries, central bank buying, the shift in FX reserves, and why energy—not precious metals—may be the real macro pivot from here. Serious macro positioning for a changing monetary order. 📲 Download the GoldRepublic app: - Google Play: https://play.google.com/store/apps/details?id=com.goldrepublic - Apple Store: https://apps.apple.com/nl/app/goldrepublic/id475643876 🟠 Buy and store physical allocated gold, silver and platinum. 👉 Open an account: https://bit.ly/38stf7p ⚠️ DISCLAIMER ⚠️ The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of any entities they represent. The information provided in this video statement is not an offer, investment advice, or financial service. It is also not intended to encourage you to buy or sell a product or to purchase a service from GoldRepublic, nor as a basis for an investment decision. A decision to invest in a GoldRepublic product can and may only be based on the information contained in a final prospectus and any Key Investor Information and other information about the product concerned (such as annual or semi-annual results). This information is available on the website (www.goldrepublic.com). If necessary, call in an advisor.
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Louis-Vincent Gave: Why CHINA WON the trade WAR
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