Global Macro Update The Years of Plenty
Feb 13, 2025
Jacob Shapiro, Director of Research at Bespoke Group, returns to discuss the bright investment landscape ahead. He emphasizes the importance of tuning out distracting media noise to seize opportunities in the coming years. Key topics include the complexities of U.S.-China trade relations, America's manufacturing dependencies in critical sectors, and the geopolitical ramifications of the Ukraine conflict. Shapiro also highlights potential growth spots in emerging markets and the need for innovative thinking to navigate global economic challenges.
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Tariffs and Ripple Effects
- Tariffs are a blunt instrument, often used broadly rather than surgically.
- While tariffs can protect specific industries, they also lead to higher prices for consumers and ripple effects throughout the global economy.
Forgotten Manufacturing
- Like past civilizations forgetting how to build pyramids or Gothic cathedrals, the U.S. has lost its manufacturing edge in various sectors.
- This dependence on other nations for essential goods like pharmaceuticals and ships creates vulnerabilities.
Revitalizing US Industries
- Jacob Shapiro suggests a program similar to Operation Warp Speed, which accelerated vaccine development, to revitalize critical U.S. industries.
- This government-backed initiative could boost growth but might also lead to higher prices.