Soumaya Keynes
speaker
263 appearances
1 recordings
1 series
first heard Jul 2026
last heard 26 Jul
Soumaya Keynes’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So if you just now look at the narrow trade deficit in goods, say, that was basically the same in 2025 as it was the previous year.
It hasn't fallen, despite a really dramatic increase in tariffs.
And when you look at the academic research on this,
You know, I wouldn't claim that there is no relationship between trade barriers and the trade deficit, right?
In an extreme case, you could increase tariffs to a million percent, you could crash imports to zero, and then sure, that might reduce your deficit.
But short of doing that, it's just an incredibly unreliable relationship.
There are all sorts of other factors that could overwhelm the effects of your trade policy.
And actually, really what's going on in the US is that the federal government has a big borrowing problem, and that's the thing that's driving lots of these external imbalances.
all the leaders of all the global economies would get together, have a nice meeting and agree some kind of rebalancing.
So the challenge in the global economy right now is you've got this big imbalance, right?
Americans on average are spending too much
We've got the Chinese.
They're the big surplus country.
They are spending too little.
And this is showing up in global economic imbalances.
Now, there are things you could do, right?
There is a powerful argument that actually part of the problem is that the Chinese currency is undervalued.
So they could allow that to appreciate.
You could fundamentally change the Chinese economy.
social security system, you could fix their domestic housing problems.
Showing 121–140 of 263 · page 7 of 14
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