Show Notes
In a reversal of roles, Nobel prize-winning economist Paul Krugman steps into host Soumaya Keynes shoes to quiz her and co-author Chad Bown about their new book "How to Win a Trade War", and the lessons it contains for surviving a global world order where traditional trade rules are being abandoned. They discuss the fragile domestic politics of a trade war, what the rest of the world can learn from China and reasons to be sort of cheerful about the future of global trade.
Further reading No one wins a trade war. Or do they? Why Europe must embrace tariffs
Subscribe to Soumaya's show on Apple, Spotify, Pocket Casts or wherever you listen.
Presented by Soumaya Keynes. Produced by Mischa Frankl-Duval. Manuela Saragosa is the executive producer. Original music and sound design by Breen Turner.
Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
More from The Economics Show with Soumaya Keynes
Eight months ago, when the Iran war began, analysts worried that oil could go up to $200 per barrel. That’s a huge jump compared with about $70 before the conflict, and there were fears it would cause a huge shock to the global economy. Luckily, that hasn’t happened. But oil prices have been climbing again since July. Commentator and analyst Rory Johnston joins host Soumaya Keynes to talk through how high prices could still go and why what you pay at the pump doesn’t reflect the cost of unrefined oil.
It is not a calm time in the markets. Investors are losing their cool while bond yields rise along with inflation. So where are central bankers? Offering words of calm? Or adding to the anxiety? The Fed’s Kevin Warsh has been telling people they need to look to the data, not to him. But is it that simple? The FT’s Chris Giles joins host Soumaya Keynes to talk through what makes for good central banker communication – and what happens if the message gets lost.
Europe has a China problem. Every single day, Europe buys a billion euros’ worth more stuff from China than it sells back. And the EU wants to stand up to Beijing over surging exports, which are challenging European industry. But China is also a vital market for European businesses and a crucial supplier of goods and raw materials. So how do you pick a trade fight with a country you depend on? Host Soumaya Keynes speaks to Bernd Lange, the German MEP who chairs the European parliament’s international trade committee, about what Brussels can do to level the playing field with China. Plus, with President Donald Trump rewriting the rules of global trade, how can the EU ensure the US plays fair too?
Tech companies are hiring economists to study how AI is reshaping work and society. But what happens when the companies building the technology also produce the research into its effects? Host Soumaya Keynes talks to Ara Kharazian, chief economist at Ramp and Peter McCrory chief economist at Anthropic, alongside FT data journalist John Burn-Murdoch, about why economists are in such demand, what proprietary data can reveal about AI’s impact, and whether industry-backed research can avoid conflicts of interest.
The global economy is becoming increasingly hostile with tariffs, export controls and industrial policy being used as geopolitical weapons, while the world’s biggest powers compete for economic advantage. So where does that leave a middle power like Britain? Host Soumaya Keynes speaks to UK senior civil servant Jenny Bates, who’s just completed the Heywood Fellowship at Oxford university, where she got to think about Britain's place in the world and how it should adapt to a changing geopolitical seascape. They discuss what Britain can learn from historic partnerships and why closer co-operation between government and business could be crucial to navigating a more dangerous global economy.