Mariangela Pira, from Dorgali, Sardinia, is one of the most authoritative voices in economic news in Italy. A journalist for Sky TG24 and curator of the podcast #3Fattori, she follows global economic developments, looking at the impact on families and businesses. An expert on China and the United States, here—on Radar and Videolina—her take on the changes. In an uncertain world, where "we are no longer as safe as we once were."

And so we are more thrifty than before.

"Paradoxically, more than when, according to some, things were worse. Now everything seems better, but in reality you're insecure about your home, your expenses, your health. As if something could happen. So you save, you fear you won't have the means to face a crisis, whatever it may be."

Asia is running, what has the West not understood?

"I think we still see things through our Western lenses. If I go to China as a correspondent, I'll have to try to understand the country based on what the Chinese tell me, otherwise I'll just give my opinion and offer my thoughts in response. Well, we've made these mistakes."

Even with globalization? We were saying trade equals stability.

They told us it would bring many things. Did it? No, the rich got richer and the poor got poorer, so much so that the Gini index (which measures inequality in income distribution, ed.) widened dramatically. So the problems are coming to a head.

Who unties them? Law, diplomacy?

"Is there diplomacy today? No, it's the law of the strongest. It's not even clothed in ethics anymore."

United States-China. Trump shouts and Xi Jinping waits.

China is not a liberal democracy. It doesn't have midterm elections. It doesn't have a timing problem, like Trump. But how is power used in China? In a very sacred, hieratic way. Putin sees it that way too, but more covertly, using it differently. Meanwhile, Trump's display of muscle in Xi Jinping is annoying. I think he also considers it crude, even uncultured.

The Silk Road. Was the Five Star Movement government right? Italy withdrew due to European and American pressure...

Let's look at it outside of the political parties. We broke away because we're with the Atlantic Alliance. But relations are changing, they're different because of Trump's will. The lack of rights in some parts of the world is the same as what we're seeing today in Massachusetts and Minnesota. So do I want to be an ally of people like that? That's a question we have to ask ourselves.

An ally who is creating difficulties for our businesses.

"Let's look at tariffs and the dollar. A weak dollar is also a tariff. So why not look at other geographies? China knows how to do this homework. We should ask ourselves what we need."

We need rare earths. Silver. And the Chinese are the most capable refiners. It's a bit like saying the energy transition is in their hands.

"That's exactly the point. We all have rare earths, but how do you extract them? And then how and where do you refine them? There's a significant environmental impact. And where do you do all this? Not at home."

In Greenland?

Trump needs a place for refining. He can't do that in China, which has now cut rare earth exports to the United States. So fewer chips for defense and the energy transition. That's why Trump is lowering his game with Xi Jinping.

Artificial intelligence: Market boost or bubble risk?

In the '90s, we couldn't do much with our cell phones. Today, we do everything. But has it brought us prosperity? Do we spend more time with our families? And what will artificial intelligence change? Who will benefit? Look at the internet boom. Those who came later benefited: Facebook, Twitter, Amazon, and so on.

But to understand this, we will need to invest more…

"Of course. But will these companies see a return on these investments? Or will the business go to those who take advantage of these technologies? We must be wary of those who say they have it all figured out. Because we have no idea what many of the things we're about to see happen."

Nicholas Scano

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