304 episodes

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.

Stephanomics Bloomberg

    • Business
    • 4.3 • 298 Ratings

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.

    Inflation Poses a Growing Credibility Risk for Central Banks

    Inflation Poses a Growing Credibility Risk for Central Banks

    Initially, Jerome Powell said the highest inflation in decades was going to be "transitory." This week, the world's most powerful central banker said the nebulous term should be retired. Such is the high-stakes guessing game going on at the Federal Reserve and the world's central banks, which risk losing public confidence should inflation continue to prove less, well, transitory than expected.
    This week, Stephanie delves into the messaging strategies of both central bankers and American corporations. First, Stephen King, a British economist and senior economic adviser to HSBC, suggests Powell's openness to cutting support for the U.S. financial system is meant to reestablish trust with the public by signaling a willingness to tackle inflation. Next, U.S.-based economics reporter Matt Boesler details the selective messaging of U.S. corporations, where profits are up 37% over last year despite rampant CEO complaints about wage inflation.
    Finally, Geneva-based economics reporter Bryce Baschuk shares how the debate over intellectual property rights for Covid-19 vaccines is a chance for the World Trade Organization to become relevant again.
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    • 32 min
    John Kerry Explains Why the Glasgow Climate Deal Matters

    John Kerry Explains Why the Glasgow Climate Deal Matters

    This week we unpack two very different challenges facing global leaders: the climate crisis and domestic violence. First, U.S. Special Presidential Envoy for Climate John Kerry joins host Stephanie Flanders to share why he thinks the Glasgow Climate Pact is more than just words on paper. Among other achievements, Kerry notes that countries representing most of the world’s gross domestic product agreed to cut methane emissions by 30% this decade. Such cuts to this dangerous greenhouse gas (if they actually happen) would be a worthy accomplishment, even if rich nations have yet to fulfill a pledge to steer $100 billion a year to poorer nations facing the brunt of climate change.
    As countries try to cut carbon, whether by a tax on emissions or other measures, leaders can limit the effects on inflation by adopting the measures sooner rather than later—when more drastic measures may be needed, Bloomberg’s senior Euro-area economist Maeva Cousin says.
    Finally, Frankfurt-based economics reporter Carolynn Look shares the harrowing story of a German woman who escaped a violent partner and how some European companies are stepping forward to fight domestic abuse. They have a financial imperative as well as a moral one: gender-based violence is estimated by the European Institute for Gender Equality to cost the European Union economy 366 billion euros ($409 billion) a year.
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    • 36 min
    Global Warming Is Pushing Humanity Toward Hunger. Can It Be Stopped?

    Global Warming Is Pushing Humanity Toward Hunger. Can It Be Stopped?

    As if rising sea levels and fiercer cyclones weren't enough to worry about, the climate crisis is already cutting crop yields and could lead to widespread food shortages. That's the grave warning from the United Nations, which cautions that farmers won't meet a projected 50% increase in food demand by 2050 if greenhouse gas emissions stay high. 
    In a special episode, Stephanie Flanders tackles how to feed almost 10 billion people, the projected population of the planet in three decades. She turned to four leaders in global agriculture at Bloomberg's New Economy Forum in Singapore for their insight. Technology will play a starring role, says Werner Baumann, chairman of German healthcare and agricultural giant Bayer AG. One Bayer project involves developing "short-stature" corn that resists stalk breakage and can be planted more densely. Cargill Inc. Chairman David MacLennan insists genetically modified organisms must be part of the solution, though GMOs are a controversial component of modern agriculture with significant opposition.
    Finally, the panelists had some ideas regarding a tweet from the world's richest man, who last month offered to put up $6 billion if a UN official could prove the money would solve world hunger. Sara Menker, chief executive of agricultural analytics firm Gro Intelligence, suggests Elon Musk's money would be best spent creating a new financial institution to help modernize how many crops are traded. More fundamentally, Musk's money could build roads and crop storage facilities so farmers in developing nations could more easily get their products to market, says Alloysius Attah of Farmerline, which helps farmers embrace technology.
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    • 33 min
    More Nations Bend to the Economic Cost of Covid Zero-Tolerance

    More Nations Bend to the Economic Cost of Covid Zero-Tolerance

    One by one, countries that sought to stamp out Covid-19's spread with aggressive lockdowns are giving up zero-tolerance policies and learning to live with the virus. The most notable exception is China, which has decided to cling to the strategy. This week, the new attitude among many nations toward the coronavirus is getting a major test in Singapore, host of Bloomberg's New Economy Forum. The city-state recently experienced its biggest flare-up of the pandemic. 
    In a special episode, Stephanie Flanders discusses Singapore's determination to move forward with the annual meeting of political, business and academic leaders with NEF editorial director Andrew Browne. In many ways, Singapore is intent on signaling it's open for business and that "remaining in lockdown just wasn't an option,'' Browne says. It's a gamble that others in the region are now taking, including New Zealand, which had been widely praised for containing the virus via severe restrictions on daily life, but hasn't been able to shake a steady infection rate.
    For now, China is bucking the shift away from zero-tolerance. It's still willing to shut down at the slightest hint of an outbreak. However, the approach is coming at great cost to its economy, Bloomberg chief economist Tom Orlik tells Flanders. With China also facing threats from energy shortages and distress in its giant real estate industry, the country's traditional 6% or 7% annual growth could be halved in 2022, Orlik warns.
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    • 21 min
    What’s Really Causing the Labor Shortage

    What’s Really Causing the Labor Shortage

    Robots may replace us eventually, but for now Covid-19 has revealed just how desperate businesses are for workers of the human variety, and the broader economic consequences of that desperation. Companies are raising wages to attract talent, which in turn is helping boost inflation. It hit 6.2% in the U.S. last month and is running at 8.1% in Russia.
    This week, Bloomberg reporters on two continents share how and why workers are slow to return to the office, factory and field. First, New York-based economics reporter Jill Shah explains the mystery behind the U.S. labor market, which at once has millions of unemployed and as many as 11 million openings. A few of the reasons? Some are waiting to land a remote job, others can't find childcare--and at least a few are trying to make a living trading cryptocurrency. 
    Meantime, Moscow-based reporter Áine Quinn finds Russia's labor shortage is more easily explained. Many migrant workers from Central Asia left during the pandemic and didn't return, while the nation's high infection and death rates has many Russians staying home. Finally, Stephanie Flanders discusses the labor shortage's lasting effects with Jason Furman, a professor of the practice of economic policy at Harvard University. History tells us that many long-term unemployed will see their skills erode, leaving them at a competitive disadvantage, Furman says. 
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    • 33 min
    Should Central Banks Be Responsible for Saving the World?

    Should Central Banks Be Responsible for Saving the World?

    As if controlling spiraling inflation wasn’t enough to worry about, the world’s central bankers are under increasing pressure to help solve climate change, income inequality and myriad other societal ills. What’s more, elected officials in some nations are trying to exert more power over bankers for political ends.
    Stephanie Flanders debates the proper role of a central banker with three esteemed women economists, Isabel Schnabel of the European Central Bank, Carmen Reinhart of the World Bank and Minouche Shafik of the London School of Economics and Political Science. While bankers can’t be the “white knight” who rushes in to save the world from global warming or income inequality, they can use their bully pulpit to prod slow-moving politicians to act, Shafik says. Schnabel goes a step further, arguing that tough talk alone won’t suffice, and that central bankers should use what economic levers they have available to advance important causes.
    Of the three economists, Reinhart raised the most concern about inflation, currently running at an annual rate of 5.4% in the U.S. and 4.1% in the euro area. Yes, the world needs to address the climate crisis, she says, but nothing will stop the green economy faster than high prices, which may lead to tighter monetary policies and a steep drop in financing in developing nations.
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    • 36 min

Customer Reviews

4.3 out of 5
298 Ratings

298 Ratings

jj237? ,

Best

The first episode was outstanding. Looking forward to the whole season

Happystart ,

I learn a lot about business around the world

I like to hear from the experts what they think is happening to the world of business and it helps me make better investments.

BGreig3 ,

Balance? Not on Bloomberg.

Would be a whole lot better without all of the Trump bashing.

You don’t need to keep trying to boost Michael Bloomberg’s campaign, he failed miserably, worse than any other candidate in history.

Wake up, the majority are not as woke as you.

Just the facts. Balance the perspectives. Hold your opinions. Spare us your snarky sniping.

Prepare yourself for Trump’s re-election.

PS.: Shaun Donnon is a hack, partisan, hit-man. No wonder you host him so often. Balance? Not on Bloomberg.

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