The New Statesman | UK politics and culture
Hunter Biden and South Korea: What's going on in the world?
Dec 6, 2024
Will Dunn, the Business editor for the New Statesman, and Katie Stallard, the International editor, dive deep into urgent global issues. They analyze President Biden's unexpected pardon of his son Hunter, dissecting its political and familial implications. The discussion takes a dramatic turn as they unpack the declaration of martial law in South Korea, exploring the government's motivations and citizen reactions. Their insights shed light on the intersection of economics and international affairs, making for a riveting conversation.
29:42
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Quick takeaways
- The UK government relies on gilts for borrowing, highlighting the crucial role of foreign investors in funding initiatives.
- South Korea's recent martial law declaration illustrates the precariousness of Yoon Suk-yeol's administration amidst public dissent and political turmoil.
Deep dives
Understanding Government Borrowing
The main mechanism by which the UK government borrows money is through the issuance of bonds, specifically called gilts. These bonds act as IOUs, promising to pay back a specific amount of money on a designated date along with regular coupon payments. Foreign investors, insurance companies, and pension funds are the primary holders of these government debts, providing a stable investment that funds governmental initiatives. The debt management office within the Treasury plays a crucial role in determining how these bonds are structured and sold to manage risks associated with borrowing.
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