cover of episode UBS On-Air: Paul Donovan Daily Audio 'Inefficiency, and inflation'

UBS On-Air: Paul Donovan Daily Audio 'Inefficiency, and inflation'

2023/8/10
logo of podcast UBS On-Air: Market Moves

UBS On-Air: Market Moves

Shownotes Transcript

The US detailed restrictions on investment in China’s technology sector. Reports suggest the UK may follow. This is not surprising, but is another manifestation of deglobalization (political interference in global trade / capital flows). As structural change sweeps the economy, scapegoat economics is likely to increase-blaming foreigners is always convenient. That encourages prejudice politics and economic nationalism. Whatever the merits of individual sanctions, the result is less efficiency.