# Agathe Demarais

Source: https://agathedemarais.com/

I am a senior policy fellow on geoeconomics & tech at the **European Council on Foreign Relations (ECFR)**. My areas of interest include the global economy, the geopolitics of AI, trade wars, economic statecraft, and US-EU-China economic relations. In 2026 I also co-chair the Think7 (T7), the G7's official engagement group for think tanks and research centres.

Before joining ECFR, I was the global forecasting director of the **Economist Intelligence Unit (EIU)**, the research arm of *The Economist*. I led the EIU's global economic and geopolitical analysis, with a special interest in trade developments, developing economies and financial risk.

Outside ECFR, I am a visiting professor at the **College of Europe** and an advisor to the policy planning unit of the **French MFA**. I am a regular columnist for [Foreign Policy](https://foreignpolicy.com/author/agathe-demarais/) and a frequent commentator for the media. My essays have appeared in *Foreign Affairs*, *The Economist*, *The Financial Times*, *The Times*, *The Journal of Democracy*, *Politico* and *Le Grand Continent*.

I am also the author of [Backfire](https://agathedemarais.com/book/), a book on the global ripple effects of sanctions and export controls. *Backfire* draws on my experience as an economic policy advisor for the diplomatic corps of the **French Treasury** in Russia and Lebanon. I also worked in **investment banking** in Russia and the US.

An economist by training, I have master's degrees from **Sciences Po Paris** and **Columbia University**, where I studied as a **Fulbright** scholar. I speak fluent French, English, Russian, Arabic (Levantine dialect and Classical) and Spanish. I am based in Paris, with frequent trips across Europe.

## Recent writing

- [China’s AI Rollout Has No Off Switch](https://foreignpolicy.com/2026/10/07/china-ai-race-artificial-intelligence-safety-models-kill-switch/?utm_content=gifting&tpcc=gifting_article&gifting_article=Y2hpbmEtYWktcmFjZS1hcnRpZmljaWFsLWludGVsbGlnZW5jZS1zYWZldHktbW9kZWxzLWtpbGwtc3dpdGNo&pid=PNIHNTSIuqq0wt2): Foreign Policy, column, Oct 2026. Topics: Geopolitics of AI, China.
- [Nuclear energy is the Kremlin’s latest leverage over Washington](https://foreignpolicy.com/2026/09/21/uranium-russia-us-nuclear-energy-enrichment-sanctions-putin-trump/?utm_content=gifting&tpcc=gifting_article&gifting_article=dXJhbml1bS1ydXNzaWEtdXMtbnVjbGVhci1lbmVyZ3ktZW5yaWNobWVudC1zYW5jdGlvbnMtcHV0aW4tdHJ1bXA=&pid=PNIHNTSIuqq0wt2): Foreign Policy, column, Sep 2026. Topics: Russia, Sanctions, US geoeconomics, Energy & commodities.
- [The Kremlin’s Easy Money Is Gone](https://foreignpolicy.com/2026/07/27/russia-ukraine-war-money-spending-defense-budget-taxes-asset-confiscation-sanctions-finance/?utm_content=gifting&tpcc=gifting_article&gifting_article=cnVzc2lhLXVrcmFpbmUtd2FyLW1vbmV5LXNwZW5kaW5nLWRlZmVuc2UtYnVkZ2V0LXRheGVzLWFzc2V0LWNvbmZpc2NhdGlvbi1zYW5jdGlvbnMtZmluYW5jZQ==&pid=PNIHNTSIuqq0wt2): Foreign Policy, column, Jul 2026. Topics: Russia.
- [Avoiding the Legacy Trap](https://ip-quarterly.com/en/avoiding-legacy-trap): Internationale Politik Quarterly (IPQ), op-ed, Jun 2026. Topics: EU geoeconomics.
- [China’s De-Dollarization Drive Has Hit a Wall](https://foreignpolicy.com/2026/06/24/china-dollar-dedollarization-yuan-renminbi-brics-finance-banks-sanctions/?utm_content=gifting&tpcc=gifting_article&gifting_article=Y2hpbmEtZG9sbGFyLWRlZG9sbGFyaXphdGlvbi15dWFuLXJlbm1pbmJpLWJyaWNzLWZpbmFuY2UtYmFua3Mtc2FuY3Rpb25z&pid=PNIHNTSIuqq0wt2): Foreign Policy, column, Jun 2026. Topics: China, Global trade.

[All pieces](https://agathedemarais.com/writing/)

## Backfire

How sanctions reshape the world against U.S. interests. Drawing on my years as an economic policy advisor for the French Treasury in Russia and Lebanon, *Backfire* traces the global ripple effects of sanctions and export controls.

[Read more](https://agathedemarais.com/book/)