Show Notes
We may be seeing peace break out in the Middle East, but it’s still trade war elsewhere - especially with China. Donald Trump has threatened a 100% tariff on the rival superpower if Beijing goes through with its plan to impose tough restrictions on exports of the rare earth minerals critical to the U.S. economy. These could well be mere negotiating tactics but they’re a reminder of the wider friction that now dominates global economic relations. On this episode of Free Expression, Gerry Baker speaks with Neil Shearing, Group Chief Economist of Capital Economics and author of “The Fractured Age: How the Return of Geopolitics Will Splinter the Global Economy.” They discuss Shearing’s argument that the world is dividing into two giant economic blocs and what that might mean for stability and peace. They also talk about some unusual developments in global markets of late, especially a weakening dollar and a soaring gold price - the last of which Shearing believes is driven by Chinese official policy.
More from WSJ Opinion: Free Expression
After nearly three years of enlightening conversations, Gerry Baker’s weekly Free Expression podcast is coming to an end. But you can still read his column every week in the Journal and he may even pop up from time to time in other places!
Artificial intelligence has gone from science fiction to an everyday reality in a few years. As the technology advances and transforms almost everything we do, the need to understand its potential - and how to harness it - grows by the day. On this episode of Free Expression, Gerry Baker speaks with New York University professor Vasant Dhar, author of a new book “Thinking With Machines: The Brave New World of AI”. They discuss the difference between using AI as an effective tool and becoming over reliant on it and ponder how it may more deeply entrench our economic and social divisions.
The time of year when we express our gratitude for our many blessings offer an opportunity to reflect on the importance of giving. On this episode of Free Expression, Gerry Baker speaks with financier John Studzinski, who shares lessons learned from his own philanthropy in a new book, “A Talent for Giving, Creating a More Generous Society That Benefits Everyone.” They discuss the projects he started to show the difference between philanthropy and charity, why giving can be a currency for change, and what can be done to broaden what he calls the “community of mankind.”
Once a defining principle of conservative governing economic policy, supply-side economics has taken some political hits in the last decade. The progressive left has always critiqued laissez- faire economics, blaming the pursuit of smaller government, tax cuts, deregulation and open trade for increasing inequality. But now large parts of the right seem to dislike supply-siders too. Populists oppose free trade and favor more government intervention in the economy, and while Donald Trump has achieved big tax cuts in both his terms in office, his signature economic measure is tariffs and he seems eager to expand government's role in the economy, from telling companies what they should be doing with prices to taking stakes in big American firms and directing foreign investment into favored industrial activities. Have the supply-siders lost? On this episode of Free Expression, Gerry Baker speaks with Matthew Elliott, member of Britain's House of Lords, and co-author with Arthur Laffer one of the godfathers of supply side economics and Michael Hintze, a London-based hedge fund founder, of a new book “Prosperity Through Growth.” They discuss the case for reviving conservative economic ideas, especially in the U.K., the risks of Trump's tariffs and trade policies, and whether Brexit, which fired the starting gun for populist economics, was a failure.
How can the U.S. win the new Cold War against its old Cold War adversaries? Donald Trump and Xi Jinping have come to a truce of sorts in their trade war, with the U.S. reducing tariffs and China agreeing not to block vital commodity exports. Russia’s war against Ukraine rages on, with no signs of any negotiated settlement. President Trump seems to prize his relationships with Xi Jinping and Vladimir Putin, but what is the goal for the U.S. in this age of power rivalry? How can the United States maintain a dominant role in geopolitics, while keeping threats from its adversaries at bay? On this episode of Free Expression, Gerry Baker speaks with former Ambassador to Russia and professor at Stanford University Michael McFaul, who details how the U.S. will handle these countries in his new book, “Autocrats vs. Democrats: China, Russia, America, and the New Global Disorder.” They also discuss why Russia is a bigger threat than China to the United States and how China wants to wield its influence through the world economy, unlike Vladimir Putin’s campaign of disruption.