John Defterios: Governments around the world are starting to pick winners and losers among industries. He says it's this idea that governments should pick winners, that finance and government are going to get more intertwined. There has always been a link between finance and government, he says; but this could take it to a different level.
A lot has been said about the collapse of Silicon Valley Bank and Credit Suisse. But one important thing revealed by those closely scrutinized failures has largely gone unnoticed: the changing relationship between governments and banks.
Bloomberg Editor-In-Chief John Micklethwait joins this episode to talk about how the idea that finance is an arm of the state is back–and why that will have far-reaching consequences for the way the world works.
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