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Will Covid-19 reshape the global economy or simply shrink it? What are nations doing to protect jobs and businesses from the fallout, and what will the long-term consequences be for labor markets, global supply chains and government finances? On Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders—the former BBC economics editor and chief market strategist for Europe at JPMorgan Asset Management—we combine reports from Bloomberg journalists around the world and conversations with internationally respected experts on these and other issues to bring the global economy to life.


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Will Covid-19 reshape the global economy or simply shrink it? What are nations doing to protect jobs and businesses from the fallout, and what will the long-term consequences be for labor markets, global supply chains and government finances? On Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders—the former BBC economics editor and chief market strategist for Europe at JPMorgan Asset Management—we combine reports from Bloomberg journalists around the world and conversations with internationally respected experts on these and other issues to bring the global economy to life.






America’s Coming Demographic Crisis Is Bad News for Employers

We all might one day be replaced by robots or ChatGPT. But for now, businesses still need humans to make computer chips or staff daycare centers. Problem is, too few workers in the US are actually working and too few people are having babies. That’s a major concern for American industry, policymakers, and most immediately, tech giant Intel Corp. The company is trying to find 7,000 people in central Ohio to build its new semiconductor facilities and 3,000 more to staff them. On this, the...


'Wake Up!' Global Elites Confront a World Full of Risks at Davos

“My fear is that we are sleepwalking into this world. But hey, here is Davos! Wake up! Do the right thing!” That's the rallying cry of Kristalina Georgieva, managing director of the International Monetary Fund, imploring the global elite at this week's World Economic Forum to be vigilant as an almost unrivaled list of perils weighs on the world's leaders. Recession looks set to sweep across the globe, nations are leaning more heavily on coal amid tight energy supplies and the cost of...


The Global War on Inflation Is Far From Over

Frustrated by prices at the grocery store? People in countries with advanced economies who have been grousing about single-digit inflation have nothing on Argentina and Turkey. There, inflation is above 90% and 60%, respectively. In the words of one tourist in Buenos Aires, carrying enough cash to pay for a flight leaves one feeling like a bank robber—with a stack of pesos as thick as a brick. With new consumer price data on Thursday, the US is getting a better idea where inflation is headed...


The Consequences of the US-China Blame Game Have Arrived

If it feels like the US relationship with China is a tinderbox waiting to explode, chalk some of it up to political expedience. Leaders on either side of the Pacific have played the blame game for years, faulting each other for their troubles while failing to enact necessary reforms at home, says economist and China scholar Stephen Roach. Meantime, these “false narratives” have built up so much animosity that a new Cold War has emerged, he says. The fight, as Senior Editor Chris Anstey...


Introducing: Crash Course

Hosted by Bloomberg Opinion senior executive editor Tim O'Brien, Crash Course will bring listeners directly into the arenas where epic business and social upheavals occur. Every week, Crash Course will explore the lessons to be learned when creativity and ambition collide with competition and power -- on Wall Street and Main Street, and in Hollywood and Washington. See for privacy information.


The Stephanomics Guide to the Global Economy in 2023

A push for peace in Ukraine, a recovering China and good news for US consumers may be in the cards. Will China keep moving beyond its "Covid-zero" policy in the face of a massive infection wave? When and how will Russia's war on Ukraine end? Will Donald Trump really go ahead with his US presidential campaign next year? Groundhog Day won't arrive in the US until February, but until then the Stephanomics podcast has assembled a crack team of prognosticators rivaling Punxsutawney Phil himself...


The Era of Geoeconomics Has Arrived

Thirty years after the Cold War ended, a new one of sorts is emerging between China and the West, a leading economic scholar asserts. As a muscular China seeks to refashion trade and geopolitical organizations in its own image, the US and many of its allies face a key challenge: keeping Beijing on board with trade pacts and efforts to slow global warming without ceding ground on democratic freedoms. In this special episode of the Stephanomics podcast, host Stephanie Flanders talks economics...


The World Wants the Fed to Stop Raising Rates

There's evidence the Federal Reserve may have finally gained the upper hand in its war against inflation, a potential relief not only for US investors but also real estate agents 8,000 miles away in Hong Kong. The central bank's year-long rate-hike campaign has stymied America's housing market as well as that of the Asian financial hub, and people on both continents will be glad to see the back of it. This week, we explore how global challenges like inflation, rising interest rates and...


Japan Is Caught Between the US, China and the War on Inflation

As the rest of the world raises interest rates to battle inflation, Japan curiously is clinging to low rates to raise wages and finally move past its long battle with deflation. But as Tokyo tries to hold the line, the fastest inflation in decades is spooking a country unaccustomed to it. And the “decoupling” of the US and China, along with Russia’s war on Ukraine, are also raising tough questions for a historically pacifist nation whose biggest export market is governed by Beijing, but...


Europe Just Might Dodge a Winter of Discontent

Europe might just avoid what had been a widely predicted, Kremlin-induced energy crisis this winter, thanks to a surprisingly large stock of natural gas. But are the continent’s efforts to conserve giving a bah humbug to the holidays? Some of Europe’s best-loved Christmas markets are shutting their holiday lights earlier to save electricity or even banning them outright. Even worse, Frankfurt’s famous market is—perish the thought—forgoing heated toilets. In this episode we delve into the...


How ‘Swiftonomics’ May Finally Break Ticketmaster’s Spell

Back in the days when bands like Led Zeppelin or The Who toured America, teens lined up overnight at ticket booths, hoping for great seats when the window opened. As time went on, the queue moved to the telephone and ultimately online. All the while, one company increased its grip on the live-event market. That company is Ticketmaster. But that could change thanks to Taylor Swift. Having waited years to see her live again, millions of fans were blocked by a combination of crushing demand,...


Long Is the Way Out of the Global Inflation Fight, and Hard

Buckle up. Global financial leaders warn that the current era of expensive money is likely to stick around for at least another year, and maybe longer. Easing up on interest rates now would only embed high inflation in people's assumptions, and "that's where it becomes very long-lasting," says former UBS Group AG Chairman Axel Weber. In this special edition from the Bloomberg New Economy Forum in Singapore, three experts in banking and monetary policy share with host Stephanie Flanders why...


Confusion Reigns for Foreign Companies Operating in China

Investors were floored when China started cracking down on homegrown tech giants like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in late 2020. They shouldn't have been, argues Kendra Schaefer, an expert on Chinese tech policy with Beijing-based Trivium China. For almost 20 years, the Chinese Communist Party has struggled to understand how its sprawling internet and financial technology industry fit with a socialist market economy, and things finally boiled over two years ago,...


Global Pillars of Prosperity are Getting Increasingly Shaky

Over the past few decades, the world's economic and political leaders were spoiled by relatively low inflation and minimal borrowing costs, a supercharged economy in China driving demand and generally modest geopolitical tension. But as we know, all of that has changed. With inflation soaring, Chinese growth slowing and Russia waging war on Ukraine, Bloomberg Chief Economist Tom Orlik contends the pillars that long underpinned rising prosperity have shifted. This week, the podcast is coming...


The World Is Having Too Few Babies, and Too Many

Having children isn't only expensive, but it also puts a serious dent in your social calendar. Data show many single, childless women in the US are traveling freely and earning more money, including more than their single, childless male counterparts. But when too many people forgo kids, it raises questions about the future workforce and whether it will be able to adequately fund benefits for the elderly. Increasingly, nations are grappling with how to encourage people to have children while...


Why Brazil's Lula May Tack Toward the Center

Voters in Brazil just took a leftward turn in electing former President Luiz Inacio Lula da Silva, ousting the far-right populist incumbent. Next week, polls show US voters may move in the opposite direction, dealing a blow to Democratic President Joe Biden and his party. This week's Stephanomics episode explores the economic and political winds in two of the world's largest nations. First, Flanders talks US midterms with Anna Wong, Bloomberg's chief US economist, and reporter Nancy Cook....


Biden's Pro-Union Presidency Isn't Good Enough for Union Members

Ahead of next month's crucial US midterm elections, Democrats would usually be counting on the support of labor unions, historically a key constituency for the party. And unions are having a moment in this late pandemic era, with successful organizing drives among Starbucks baristas and Amazon warehouse workers. But despite President Joe Biden's efforts to woo them, many union members are showing a lack of enthusiasm for Democrats that may undercut the party's bid to keep control of both...


In China, Five More Years of Xi Means Security Above All Else

As Xi Jinping embarks on his third term as China's president, the world's most populous nation has lost some of the zeal for growth, experimentation and global collaboration that defined it two decades ago. In its place, both Xi and China are focusing on security above everything else, argues Bloomberg Chief Economist Tom Orlik. Today, Beijing is "fighting with the US, fighting against pandemics, trying to secure what it has rather than open up and explore new opportunities," Orlik says....


Bad Policies are Greasing the Wheels for a Global Recession

If the combination of inflation, Russia’s war on Ukraine and a surging dollar don’t send the world into recession, disastrous policy mistakes surely could. That’s the increasingly gloomy outlook among some who gathered in Washington this week for meetings of the International Monetary Fund and the Institute of International Finance. One pessimist, Martin Wolf, a longtime columnist at the Financial Times, predicts a deep downturn in Europe, one that includes the UK. That country has been...


Liz Truss' Tax Fiasco Shows How UK Guardrails Have Fallen Away

The UK's politics and policies have always been a bit quirky. But international investors have long trusted that the country would, in the words of prominent British economist Malcolm Barr, see itself from point A to point B. Lately, those investors could be forgiven for calling that premise into question. A series of unforced errors by new Prime Minister Liz Truss and her financial team have shaken confidence in Britain's leadership at a time when its public is reeling from soaring energy...