The Interview
Mervyn King: Global growth and inflation
Nov 13, 2023
Former governor of the Bank of England, Mervyn King, discusses global challenges including rising inflation, geopolitical tensions, and climate change. Topics covered include the impacts of global conflicts on the economy, limitations of economic forecasts, the response to the COVID crisis, opportunities and consequences of Brexit, and the challenges faced by central banks in controlling inflation.
22:58
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Quick takeaways
- Geopolitical tensions and conflicts around the world contribute to economic disruptions and raise concerns about potential regional and global conflicts, which have significant economic consequences.
- Expansionary monetary and fiscal policies implemented to counter the economic disruptions caused by the COVID-19 pandemic can lead to inflation, necessitating the need to raise interest rates to control it.
Deep dives
Geopolitical Uncertainty and Economic Fallout
The podcast episode highlights the mounting geopolitical tensions and conflicts around the world, such as the Russian invasion of Ukraine and the violence in the Middle East. These events contribute to economic disruptions and raise concerns about potential regional and global conflicts, which have significant economic consequences. The surge in violence and the fear of a wider regional conflict in the Middle East, along with uncertainties surrounding China's trajectory and the economic costs of climate change, further exacerbate the economic challenges. The impact of these external factors on global economies, including rising inflation and supply chain disruptions, remains uncertain.
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