The Rest Is Money 161. Trump Turmoil: Starmer Should Choose EU Over US
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Apr 17, 2025 In this episode, Jim O’Neill, an influential economist and former chief economist at Goldman Sachs, shares his insights on the UK's trade priorities. He argues that securing a deal with the EU is crucial, overshadowing negotiations with the U.S. O'Neill also warns against severing ties with China, seeing collaboration as vital for global growth. Additionally, he discusses the need for ambitious investments in the UK to address regional disparities and bolster economic resilience in a changing global landscape.
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UK Should Prioritize EU Trade Deal
- The US trade approach under Trump seems driven by bullying rather than a clear strategy. - The UK should prioritize a trade deal with the EU over the US due to the harsher conditions likely demanded by America.
US Benefits from China Growth
- US-China economic relations have massively fueled global growth and US prosperity. - US actions against China stem from fear of losing global dominance rather than economic logic.
Nuanced Approach to China Needed
- China is neither purely friend nor foe but a complex trading partner with ideological differences. - Blanket bans on Chinese involvement in sectors can compromise UK's energy and climate goals.