The Economics Show After globalisation: What's next for a fractured world? With Neil Shearing
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Sep 1, 2025 Neil Shearing, Group Chief Economist at Capital Economics and author of 'The Fractured Age', shares his expertise on the transformative effects of geopolitical tensions on global trade. He argues that the unraveling of globalization is not solely due to Donald Trump's policies but a deeper trend. The discussion highlights the escalating economic rivalry between the US and China, the implications of technological competition, and the potential bifurcation of global markets. Shearing also touches on the evolving role of Europe and the future of the dollar.
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Fracturing Comes From Rivalry, Not Retreat
- The world is not broadly deglobalising; trade, capital and migration flows remain high by historic standards.
- Neil Shearing argues intensifying US-China rivalry, not inward-turning nations, is reshaping globalization.
Technology Controls As Strategic Leverage
- Technology controls have become a central tool in US policy to preserve strategic advantage over China.
- The US faces a trade-off between blocking advanced tech and leveraging exports to exert influence inside China.
China Leads In Green Tech
- China leads at the frontier in key green technologies like batteries, not just catching up.
- Europe may struggle to meet climate goals without integrating some Chinese green tech.
