Lord Jim O'Neill

speaker

108 appearances 1 recordings 1 series first heard Jul 2026 last heard 12 Jul

Lord Jim O'Neill’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

Appearances

newest first · ▶ plays the moment

Business Daily · The BRIC architect's warning for the West · 12 Jul 2026 podcast

However, what is interesting and a lot of evidence of it this year alone, that the Chinese are increasingly exploring through digital payments and other forms to be able to expand the growth of the RMB purely for trade and not, as most of us Western analysts assume for so long, that it wouldn't really get anywhere unless they allowed people to invest and buy and sell it at will.

And so

I'm now starting to think that it's not impossible that we'll have a very different kind of more complex monetary system than the one that we've all been used to over the past, what is it, 50-odd years now.

It is certainly the political narrative which many Western leaders, particularly Donald Trump, love to portray that they're reversing this evil globalisation.

But if you actually look at the data, what is really going on is that more and more trade is going on between the BRICS and what you might call the global south.

And it's actually accelerating significantly between some of them.

And some of the Western countries are not just participating as much.

Second thing to say, as much as Trump goes on about these kind of things, the reality is unless the US starts to save more and consume less,

and therefore is less dependent on global capital, the US is still going to run these huge current account deficits.

And yes, by using tariffs, it can stop some of the imports coming from country X, let's say China.

But as you can see in the data, what actually happens is the US is just importing

A lot of stuff it used to do from China, from elsewhere.

And yes, so the nature of some aspects of globalization are changing.

But, you know, when you look at the likes of WhatsApp and Facebook and Twitter or X, as we call it, I mean, these things are as global as they come.

The reality is you have to do it through pretty aggressive policy change, possibly introducing rewards for saving and discouragement for consumption.

But try doing that as a leader in the United States.

I don't think it'd get you very far.

Trump is taking grave, grave risks with the US economy.

He's such a clever articulator of populist ideas that

But it's creating this narrative that the US can re-industrialize and rebalance without doing anything about the savings rate.

Showing 21–40 of 108 · page 2 of 6