Economics experts Jeffrey Sachs, Ngozi Okonjo-Iweala, and Mohamed El-Erian discuss the US-China Huawei dispute, Brexit's impact on Africa, and the global economic outlook for 2019. Topics include market volatility, trade tensions, and the need for global collaboration amidst uncertainty.
Cooperation is crucial in US-China trade relations to avoid negative outcomes and escalating tensions.
Brexit's interdisciplinary impacts on global trade relationships extend beyond Europe, with potential implications for regions like Africa.
Deep dives
Global Economic Outlook for 2019
Mohamed El-Erian does not predict a global recession for 2019, highlighting potential economic challenges in parts of Europe and China. Jeffrey Sachs emphasizes the importance of addressing long-term global challenges such as environmental and migration crises for sustained progress. Gozi O'Conjo-Iweala discusses demographic trends influencing economic performance between developed and African countries.
US-China Trade Relations
Jeffrey Sachs criticizes the US approach towards China in trade relations, expressing concerns over escalating tensions and potential negative outcomes. He calls for cooperation as crucial, highlighting the risks of a confrontational stance. Mohamed El-Erian underscores the need for addressing legitimate concerns in trade practices while Gozi O'Conjo-Iweala expresses optimism in finding mutually beneficial solutions in trade disputes.
Brexit's Global Impact
The experts touch on Brexit's interdisciplinary impacts on global trade relationships. Mohamed Al-Arian discusses the significance of Brexit's final outcome for financial markets, emphasizing the risk of fragmentation in regional and global economic ties. Ngozi O'Conjo-Iweala expresses concerns and hopes for a sensible resolution with implications extending beyond Europe to regions like Africa.
Jeffrey Sachs, Ngozi Okonjo-Iweala and Mohamed El-Erian discuss the big economic and political trends and risks to watch out for in the year ahead.
Economics Professor Jeffrey Sachs of Columbia University explains his pointed views on the US-China spat over Chinese tech firm Huawei, for which he recently received a barrage of criticism on social media. Former Nigerian finance minister and World Bank managing director Ngozi Okonjo-Iweala relays how Africans have been left astonished and consternated by Brexit. And bond investor supremo Mohamed El-Erian of Allianz and Pimco says the global economy and financial markets are likely to get tougher over the next 12 months, although nowhere near as bad as 2008.
The discussion is hosted by Manuela Saragosa. The producer is Laurence Knight.
Producer: Laurence Knight
(Picture: A man jump between 2018 and 2019 years; Credit: oafawa/Getty Images)
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