An old driver who has been in the mall for a long time, follow me every day to share a little dry wealth, so that your life will take fewer detours.
Switzerland broke with its 200-year-old "neutral" stance by withdrawing assets from Russia, then announced that Credit Suisse customers had more than 180 million francs in deposit accounts in Swiss banks, followed by a freeze of $8 billion in assets of wealthy Russians in Switzerland.
As a result, Switzerland has been a small player in the long history of Western Europe, barely surviving by exporting mercenaries to neighboring countries in exchange for commissions and food.
As a neutral country, Switzerland has naturally become a natural safe haven for European assets, especially the banking sector, and banks have been adhering to the strategy of attracting capital at low tax rates, attracting a large number of European giants to save money in a very short period of time.
According to Swiss official statistics, after the end of World War II, more than 280 Swiss banks controlled 35% of the world's private wealth, a scale that can only be described as staggering.
Indeed, Switzerland has never been involved in any kind of war for more than 200 years, even during the height of World War II, without taking action to freeze the assets of other countries.
It can be said that it was this status of a neutral country that allowed the Swiss economy to rapidly develop into a developed Western country after World War II.
The turning point was in 2020, with a series of events such as the new crown epidemic, the US dollar and interest rate hikes, Switzerland began to gradually lose stability as an international financial center, and the economy fell into a long-term downturn or even stagnation.
In 2023, the optimism of the Swiss economy is also lower than 1% in September, and new GDP is expected to grow by 0.7% to 2017.
Federal economists forecast inflation in Switzerland of 2.4% in 2023 and 2.9% in 2022.
The Swiss Federal Secretariat for Economic Affairs said the slowdown in growth would lead to a slight increase in unemployment, which is expected to reach 2.3 percent in 2023.
Switzerland Tourism has suffered a severe impact from the coronavirus pandemic over the past two years and is expected to fully recover by at least 2026, according to Switzerland Tourism.
But this self-preservation only exacerbates the vulnerability of the Swiss economy.
Now that the world's rich are afraid of the transformation of Switzerland and are running away with their money, Credit Suisse has begun to run on the bank, which is the deadliest for the Swiss banking industry.
As a result, Switzerland eventually could not withstand the pressure of the United States and chose to abandon its position of neutrality for hundreds of years and turn to the American camp, simply to seek self-preservation.
But such self-preservation will only exacerbate the already fragile Swiss economy.
