Martin Wolf on Trump's Shakeup of the Global Order
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Hello and welcome to another episode of the Oddlots Podcast. I'm Tracy Alloway.
And I'm Joe Wasenthal.
Joe, we're here in London.
Still in London.
Still in London. It's been interesting. I think I've mentioned so I obviously I went to university here. Got my first job here, first at Bloomberg. I left very quickly and joined the FT. And I was here for like ten years and met my husband here. So I've just been walking around the city this week, just feeling very nostalgic about everything.
This is a very weird time to be in London. For one thing, I have to say like The whole time zone thing really messes me up but like I'm like, you know, the the concept of time zone still blows my mind a little bit. As an American, I'm
not surprised to hear you say that. The
most obvious it's like I can't believe the market's still open. But also, you know, we're at a time where changing perceptions towards the US are a big story. And normally, if I'm being honest, if I could be a sort of rude American for a moment. Always true. Global perceptions of the US are not uh typically a very big deal to me. They're not something that I think about very often. Except insofar as we're in a period where our president claims to want to be doing trade deals with the rest of the world, at which point these elected leaders around the world have domestic constituencies that they have to be accountable to. And as such, perhaps we're in a period where perceptions of the US actually substantively matter.
Well, here's the other thing I was thinking about. I was walking past my old university and I was thinking both you and I did international relations.
Yeah.
And I was thinking how amazingly irrelevant that degree has become. And I was thinking back to the reading list we had in the early two thousands about like Implementing globalization and globalization, Colin, the way forward and things like that. So much of that just feels completely off the table at at this moment.
You know, bilateral agreements with seventy different nations in ninety daily basis. While
insulting them on a daily basis.
While insulting them. I mean, come on.
Okay, so I'm trying to unify all these different themes. My former employer, the future of globalization, the fact that we're here in London at a time when Europe, US relationships really seem to be in the gutter in many ways. So We have the perfect guest.
We do have the perfect guest.
Truly the perfect guest. We're gonna be speaking with Martin Wolfe. He is, of course, the chief economics commentator over at the FT, sometimes described. as the most important economics commentator in Britain, which given that the UK exports a lot of commentators, is really saying something. Also the author of a book on globalization, of course. Although as I understand it, your feelings have evolved over the years. So Martin, welcome to the show. Thanks so much for coming on.
It's a pleasure to be here in beautiful London, which feels very pleasingly away from the US.
Yes, I yes, I'm Right, then
we're setting the tone for the conversation. Yeah, there you go.
Is it amazing to be an economics commentator in the current environment in the or is it incredibly depressing in the sense that, you know, we're seeing a lot of new and interesting ideas. I'm doing air quotes, although I'm on a podcast. New and interesting ideas coming out of certain administrations about how economics works and how it could theoretically work. And at the same time, you're seeing the tearing down of a lot of established norms and principles from traditional economics.
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