2025-09-01
31 分钟The world is in a messy transition, from a globally integrated system to, well, who knows?
That was the diagnosis of Singapore's Prime Minister earlier this year.
And here's how the Polish Premier Donald Tusk put it not long after.
He said the era of naive globalisation was coming to an end,
with nations turning inward and prioritising their own narrow interests.
No one doubted those comments were a swipe at America,
because it's a truth almost universally acknowledged that President Trump has put globalization into reverse.
But my guest on the show today sees it rather differently.
He argues Trump's policies are a symptom and not a cause of the unraveling,
or is it the re-raveling, of the global trading order.
Welcome to The Economic Show from The Financial Times.
I'm Peter Foster, the FT's World Trade Editor.
And my guest today is Neil Shearing, a familiar name to the thousands of executives,
policymakers and investment professionals who read his research every week.
Because Neil is the Group Chief Economist at Capital Economics, the global research firm,
and in another life, he was an advisor to the UK Treasury.
Neil, welcome to the show.
Thank you for having me.
We hear lots of talk, don't we, about decoupling,
deglobalisation, but I think you paint a more nuanced picture in this book,