Latest news with #deglobalization
Bloomberg
24-07-2025
- Business
- Bloomberg
How to Prepare for a Post-Dollar World With Inigo Fraser Jenkins
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify People talk all the time about the potential for huge turning points in history. And they've been talking about the possibility of the US losing its dominant position in the international financial order for some time. So far it hasn't really happened, but there are plenty of people who think that the Trump's focus on tariffs and higher deficits could mark a sea change in the appetite for dollar assets. In this episode we speak with Inigo Fraser Jenkins, strategist at Alliance Bernstein, about some of the big changes that are altering the investment landscape including: higher debt loads across the world, the rise of AI, de-globalization, demographics, and more. As he points out, the difference right now is that we're not just talking about one possible regime change for investors, but a long list of them. Inigo talks about how these shifts might play out and what investors can do to prepare for them. Read ' The End of US Exceptionalism? ' by Inigo Fraser Jenkins
Bloomberg
17-07-2025
- Business
- Bloomberg
Niblett: Beginning to See Some De-globalization
The US's changing stance towards diplomacy is leading to some de-globalization away from a Global North-led economy says Robin Niblett, Distinguished Fellow and Former Chief Executive of Chatham House. However as China seeks to reduce its dependence on the US, it must make its trade proposition to the Global South more attractive than simply buying up other countries' commodities, argues Niblett. He spoke to Francine Lacqua on 'Bloomberg: The Pulse'. (Source: Bloomberg)
Bloomberg
19-05-2025
- Business
- Bloomberg
Odd Lots: Scott Bok on the Intimate Link Between Globalization and M&A
When we think about the prospect of deglobalization (whatever that means) we often think about it in terms of the goods economy. Supply chains get rerouted. Manufacturing becomes more localized, and possibly less efficient. But changes to the global world order also have implications for Wall Street, and the world of dealmaking. On this episode of the podcast, we speak with Scott Bok, the former chairman and CEO of the investment bank Greenhill & Co., which is now part of Mizuho. Scott is the author of the new book "Surviving Wall Street: A Tale of Triumph, Tragedy, and Timing," which covers his long career as an investment banker starting in the early 1980s. We talk about what investment bankers actually do, and also how the great Wall Street dealmaking boom over the last several decades is, in large part, a story of globalization, and the opportunity for firms to roll up localized companies into cross-border giants. He talks to us about how the bankers themselves served as essentially evangelists of the pro-capitalism message of the Reagan era, spreading the gospel of shareholder primacy all around the world.
Bloomberg
19-05-2025
- Business
- Bloomberg
Scott Bok on How Bankers Spread the Gospel of Capitalism
Listen to Odd Lots on Apple Podcasts Listen to Odd Lots on Spotify When we think about the prospect of deglobalization (whatever that means) we often think about it in terms of the goods economy. Supply chains get rerouted. Manufacturing becomes more localized, and possibly less efficient. But changes to the global world order also have implications for Wall Street, and the world of dealmaking. On this episode of the podcast, we speak with Scott Bok, the former chairman and CEO of the investment bank Greenhill & Co., which is now part of Mizuho. Scott is the author of the new book, Surviving Wall Street: A Tale of Triumph, Tragedy, and Timing, which covers his long career as an investment banker starting in the early 1980s. We talk about what investment bankers actually do, and also how the great Wall Street dealmaking boom over the last several decades is, in large part, a story of globalization, and the opportunity for firms to roll up localized companies into cross-border giants. He talks to us about how the bankers themselves served as essentially evangelists of the pro-capitalism message of the Reagan era, spreading the gospel of shareholder primacy all around the world.
Bloomberg
16-05-2025
- Business
- Bloomberg
Tariffs Got You Down? Brush Off the 1930s Playbook.
Now that Donald Trump has rendered irrelevant the iconic books that guided corporate thinking in recent decades — who still believes that the world is flat? — businesspeople are desperately casting about for guidance. In a recent column, I argued that US managers have much to learn from emerging markets. Today, I want to add that managers everywhere have much to learn from the interwar years. The interwar period — marked by the turmoil of the 1920s and the depression of the 1930s — was the last great period of deglobalization. The century between the defeat of Napoleon in 1815 and the outbreak of the First World War in 1914 was an era of pell-mell globalization. International trade grew by 3.5% a year. The gaps in commodity prices between continents declined by four-fifths. Sixty million Europeans migrated to the US. In 1913, foreign direct investment was 9% of world output, a proportion that wasn't equaled until the 1990s.
