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Tariff turmoil: the end of globalisation or a blip in history?
Apr 12, 2025
Tej Parikh, a writer from the Financial Times, dives into the complexities of globalisation amidst recent tariff controversies. He and fellow commentator Kate Andrews argue that, despite protectionist trends, globalisation is far from finished. They discuss the shifting landscape of trade, emphasizing the importance of digital services and the need for government adaptation. The conversation also critiques misconceptions about trade deficits and highlights the essential role of retraining communities to navigate these economic changes.
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Quick takeaways
- The podcast argues that despite current tariff turmoil, the fundamental economic principles favoring globalization are likely to prevail in the long run.
- It emphasizes the growing importance of service industries in the evolving global economy, as consumer preferences shift towards digital services over traditional goods.
Deep dives
The Impact of Tariffs on Globalization
Recent events have highlighted the potential shift in globalization dynamics, particularly influenced by tariff policies enacted by the Trump administration. Trump has implemented significant tariffs on imports, arguing that other countries have exploited the U.S. through trade. Proponents of globalization view these tariffs as threats, predicting a resurgence in protectionist policies while arguing that the fundamental economic principles favoring trade will prevail in the long run. The ongoing debate examines whether such protective measures could permanently alter the course of global commerce, or if history will repeat itself with a return to open markets.
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