A weekly podcast that examines the inner workings of the global economy.


  •  The Inequality of America’s K-Shaped Recovery

    The Inequality of America’s K-Shaped Recovery

    08/10/2020 Duración: 37min

    Covid-19 has upended economies across the globe. In the fourth season of Stephanomics, we’ll be taking a closer look at the fragile path to recovery and which nations are doing better than others. This first podcast of the new season is brought to you by the letter K, or more precisely the K-shaped recovery which sees parts of the U.S. economy bouncing back while others still suffer. We start in Cleveland, where Bloomberg senior reporter Shawn Donnan tells us about two houses that illustrate how the pandemic is both reinforcing and widening America’s inequalities.  Host Stephanie Flanders also talks with Director of the London School of Economics Minouche Shafik about the unequal economic impact of the pandemic, and what policymakers should be doing to help. Flanders also speaks with Bloomberg economy editor James Mayger in China, where after months of staying home, almost half a billion people are displaying confidence in the country’s rebound and finally taking a vacation.

  • Bonus: The Emperor’s New Road

    Bonus: The Emperor’s New Road

    28/09/2020 Duración: 17min

    Andy Browne, editorial director for the Bloomberg New Economy, talks to Jonathan Hillman, author of the book The Emperor’s New Road: China and the Project of the Century. That project, of course, is the Belt and Road Initiative: the grand strategy of president Xi Jinping who has made it his foreign policy signature. But what is it exactly? An imperial effort, certainly. But according to Jonathan not a very organized one. And one that could repeat the mistakes of past empires.

  • Bonus: Beer is Flowing Again

    Bonus: Beer is Flowing Again

    17/09/2020 Duración: 16min

    One of the first global consumer companies to feel the impact of Covid-19 was the beer giant AB InBev, whose brands include Budweiser, Corona and Stella Artois. AB InBev operates a brewery in Whuan China where the pandemic began and which was the worlds first city to go into lockdown. But as life returns to normal in Wuhan and cities all over the world, beer is flowing again in record quantities. In this interview, Andy Browne talks to AB InBevs CEO Carlos Brito about this turnaround in fortunes and how Brito ultimately sees us bounce back from this temporary isolation in celebration.

  • Bonus: Superpower Showdown

    Bonus: Superpower Showdown

    10/09/2020 Duración: 16min

    Before the pandemic, relations between the U.S. and China were already at rock bottom. Since then, they've gotten even worse, with both sides trading blame for the Covid-19 outbreak, spinning conspiracy theories and abandoning cooperation on all fronts. To discuss what this all means for the Covid economy, Andy Browne caught up with two Wall Street Journal reporters, Lingling Wei and Bob Davis, to talk about their new book, Superpower Showdown: How the Battle Between Trump and Xi Threatens a New Cold War.

  • Bonus: Airbnb CEO Brian Chesky

    Bonus: Airbnb CEO Brian Chesky

    03/09/2020 Duración: 15min

    In this bonus episode, Andy Browne, the editorial Director of the Bloomberg New Economy, talks to Brian Chesky, chief executive of Airbnb. A few months ago, the company laid off a quarter of its staff. But since then, the business has since staged a remarkable comeback — and now Airbnb is said to be planning an IPO. Andy and Brian discuss the future of travel, and what a new nomadic workforce might mean for the home rental business.

  • What Top Economists Take From the Covid-19 Crisis 

    What Top Economists Take From the Covid-19 Crisis 

    23/07/2020 Duración: 27min

    The novel coronavirus has reshaped the global economy, shifting the attitudes of governments, central bankers and consumers alike. It has changed how we work—if we work—and altered monetary and fiscal policy around the globe. As this tumultuous season of Stephanomics draws to a close, host Stephanie Flanders speaks with two leading economists about what they’ve learned from the crisis so far. Stephen King, senior economic adviser at HSBC, and Adam Posen, president of the Peterson Institute for International Economics, share their thoughts on how their profession has reacted to the pandemic, what uncertainty means for businesses and markets, and the generational implications of closing down economies to protect the most vulnerable.

  • Introducing: Blood River, A New Podcast From Bloomberg

    Introducing: Blood River, A New Podcast From Bloomberg

    22/07/2020 Duración: 04min

    The killers of Berta Caceres had every reason to believe they’d get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no one had been punished for the crimes. Bloomberg’s Blood River follows a four-year quest to find her killers – a twisting trail that leads into the country’s circles of power. Blood River premieres on July 27.

  • Can Creative Destruction Work During a Pandemic?

    Can 'Creative Destruction' Work During a Pandemic?

    16/07/2020 Duración: 26min

    Great things can rise from the ashes of failed companies, so governments shouldn’t rescue firms that would otherwise go bust. That’s the thinking behind so-called creative destruction, but amid the unprecedented shock of the pandemic, does this economic theory apply, or is it too risky?  On this week’s episode, Stephanie Flanders talks to Bloomberg Federal Reserve reporter Rich Miller and Eurozone economist Maeva Cousin about the contrasting economic policy approaches taken by the U.S. and Europe.  The pandemic has also thrown up new challenges for gender equality, with women more likely to suffer financially, especially in hard-hit sectors like tourism and hospitality. Bloomberg economy reporter Yuko Takeo reports how the crisis is another obstacle for Japanese women fighting for greater representation in the workplace, and more power in the world’s third largest economy. 

  • What Wuhan Can Teach Us About Recovery

    What Wuhan Can Teach Us About Recovery

    09/07/2020 Duración: 28min

    Wuhan will forever be known as the place where Covid-19 and lockdowns began. But the Chinese city also might be the best place to learn how to restart the global economy. On this week’s episode, Stephanie Flanders talks to Sharon Chen, Bloomberg’s Beijing bureau chief, about the lessons we can learn from Wuhan’s efforts to get life—and business—back on track, and why it pays to be in the instant noodle business right now. Flanders also speaks with Bloomberg Economics’ Tom Orlik about his new book, “China: The Bubble that Never Pops.” From the financial system to real estate and banking, Western commentators always seem to be waiting for the world’s second-largest economy to blow up. So why hasn’t that happened yet? 

  • Why Europe Finds It Hard to Break Chinese Supply Chains

    Why Europe Finds It Hard to Break Chinese Supply Chains

    02/07/2020 Duración: 25min

    Covid-19’s fracturing of supply chains has left businesses and governments questioning the prudence of networks that crisscross the planet. Pandemic recovery plans talk of developing “strategic autonomy” in key sectors, and suggest that executives should bring production closer to home. But on the ground, companies say it’s not so easy.  Host Stephanie Flanders hears from Frankfurt-based Bloomberg reporter Piotr Skolimowski and a German pharmaceutical executive about why it’s so hard for Europe to extract itself from Chinese supply chains. She also speaks with World Trade Organization Chief Economist Robert Koopman and Renaissance Capital’s Global Chief Economist Charles Robertson on the future of global trade and investment. They discuss what trade might look like in a post-coronavirus world, whether so-called reshoring is actually a good idea, and why emerging market economies might ultimately benefit from Covid-19.

  • Introducing Foundering

    Introducing Foundering

    26/06/2020 Duración: 04min

    Adam Neumann had a vision: to make his startup WeWork a wildly successful company that would change the world. He convinced thousands of other people -- customers, employees, investors -- that he could make that dream a reality. And for a while, he did. He was one of the most successful startup founders in the world. But then, in the span of just a few months, everything changed. Foundering is a new serialized podcast from the journalists at Bloomberg Technology. This season, we’ll tell you the story of WeWork, a company that captured the startup boom of the 2010s and also may be remembered as a spectacular bust that marked the end of an era. Catch the first two episodes of Foundering, now available on Apple Podcasts, Spotify, or wherever you listen.

  • Stiglitz, Roubini and the Post-Pandemic Future of Capitalism

    Stiglitz, Roubini and the Post-Pandemic Future of Capitalism

    25/06/2020 Duración: 32min

    It’s no exaggeration to say the coronavirus has upended the global economy in ways few could have imagined. It's been called a wake-up call for capitalism and a foreshadowing of our exceedingly precarious future, one with more catastrophes waiting in the wings. What if anything can governments and central banks do about it? Host Stephanie Flanders digs into this question with two famous economists, Nobel laureate Joseph Stiglitz and Nouriel Roubini, as part of the Bloomberg Invest Global virtual conference. From the possibility of a cold war between the U.S. and China to the impact of technology on employment, the fate of emerging markets and the end of globalization, they come to some pretty different conclusions. 

  • Covid-19’s Fresh Injustice for Black-Owned American Businesses

    Covid-19’s Fresh Injustice for Black-Owned American Businesses

    18/06/2020 Duración: 26min

    As protests against racial discrimination and police killings continue across the U.S., another injustice is ripping through American cities: Black-owned businesses are shutting down at an alarming rate. Host Stephanie Flanders talks with Atlanta-based Bloomberg reporter Michael Sasso on why twice as many Black entrepreneurs are being forced to close their doors amid the pandemic as compared with white business owners. Flanders also speaks with Bloomberg Economics’ Tom Orlik about how long the fallout from Covid-19 is likely to last. Is a rapid recovery possible? Or are we looking at a longer, more painful outlook for unemployment? We’ll hear why he thinks that almost one-third of the millions of jobs lost in the U.S. might not be coming back.

  • Black Joblessness Shows Fed Must Look at Inequality

    Black Joblessness Shows Fed Must Look at Inequality

    11/06/2020 Duración: 30min

    Protests all across America following the Minneapolis police killing of George Floyd, an unarmed black man, have put yet another spotlight on the deep inequality between black and white America. That disparity was also laid bare in last week’s jobs data, when a surprise drop in overall unemployment masked the fact that black joblessness has climbed to its highest level in more than a decade. Host Stephanie Flanders talks with economy reporter Matthew Boesler about what these inequities mean for policy setting at the Federal Reserve, and Jason Furman, a former economic advisor to President Barack Obama, gives his thoughts about what lies ahead for U.S. employment after Covid-19. Flanders also speaks with Bloomberg Economist Boingotlo Gasealahwe about the challenges facing African nations as they seek to fund post-pandemic recoveries. Without the backstop of cheap finance, they risk a protracted slump that could curtail development for decades.

  • Madrid’s Restaurants Face a Hard Road in the Post-Covid World

    Madrid’s Restaurants Face a Hard Road in the Post-Covid World

    04/06/2020 Duración: 25min

    Europe is emerging after weeks of lockdowns that kept shops and businesses shuttered, and residents safe at home. On this week’s episode, Bloomberg economy reporter Jeannette Neumann steps out onto the streets of Madrid to speak with restaurateurs and hoteliers. In a post-coronavirus world where travel is limited, outdoor dining mandatory and police decide how many tables are allowed, reopening a business brings new challenges to stay afloat. Host Stephanie Flanders also talks with Bloomberg Economics’ Johanna Jeansson about the very different pandemic strategy adopted by Sweden. When restrictions are voluntary and the government isn’t in charge, what does it means for the economy and public health?

  • A 70,000 Year View on the Covid-19 Crisis

    A 70,000 Year View on the Covid-19 Crisis

    28/05/2020 Duración: 28min

    Covid-19 is the biggest threat to our physical and economic health in recent times, but on this week’s episode, Columbia University professor Jeffrey Sachs takes a 70,000 year perspective on the global crisis, what it will mean for international relations and even a potentially better future. Stephanie Flanders also speaks to Bloomberg Opinion editor Ferdinando Giugliano about the European Union’s proposed recovery fund. He thinks this time will be different for fiscally strait-laced Germany, but for it to have lasting impact, the Italians will need to show they can spend it wisely.

  • For the Coronavirus Economy, This Time Truly Is Different

    For the Coronavirus Economy, This Time Truly Is Different

    21/05/2020 Duración: 27min

    There’s little debate that Covid-19 has crushed economies and triggered government rescue efforts not seen in modern times. On this week’s episode, World Bank Chief Economist Carmen Reinhart and fellow Harvard professor Kenneth Rogoff, authors of “This Time Is Different: Eight Centuries of Financial Folly,” discuss what comes next with Bloomberg Economics executive editor Simon Kennedy. The depth of the U.S. recession isn’t the only way in which this time is different. While tens of millions are newly unemployed or working fewer hours, new pandemic-adjacent occupations are emerging. Host Stephanie Flanders talks with Bloomberg global business reporter Jeff Green about these new jobs, such as contract tracer and thermal scanner.

  • Rich Nations Face a Post-Covid World Without Cheap Migrant Labor

    Rich Nations Face a Post-Covid World Without Cheap Migrant Labor

    14/05/2020 Duración: 25min

    Romanian home-care workers in Italy. Indian construction crews in Dubai. Filipino maids and cooks in Singapore. The world’s wealthy economies depend on a steady flow of cheap labor from lower-income nations. And people in those nations often rely on remittances from family members working abroad. Now it seems that the coronavirus pandemic that’s crushing economies all over the world is also upending the global labor market. Workers are heading back to their native countries in large numbers—or stranded far from home without jobs and benefits. Host Stephanie Flanders talks with Bloomberg journalists in three regions for insight into how this is playing out: European economy editor Andrew Langley in London, Middle East economic reporter Abeer Abu Omar in Dubai and Asia economics columnist Daniel Moss in Singapore.

  • How the Pandemic Jobs Bust Will Hurt Some More Than Others

    How the Pandemic Jobs Bust Will Hurt Some More Than Others

    07/05/2020 Duración: 22min

    Just a few months ago, the economic debate about employment centered on how low the jobless rate could go. Now, with tens of millions out of work across the globe, it's about how bad it can get. On this week's episode, host Stephanie Flanders and economy reporter Katia Dmitrieva discuss how those "last in" to a boom economy are usually the "first out" in a downturn. Focusing on seven case studies, they discuss how minorities, young people and women who benefited from the historic surge in employment will be the ones who suffer most, and for longer.  In Europe, the coronavirus continues to hit countries hard, yet many people have actually been able to keep their jobs, with at least 45 million having their wages paid by the state. Flanders also talks with Bloomberg Eurozone Economist Maeva Cousin about the cost of keeping these people paid, and how governments will wean companies off this vital support.

  • Waffle House Signals U.S. Reopening, But It Won’t Be Simple

    Waffle House Signals U.S. Reopening, But It Won’t Be Simple

    30/04/2020 Duración: 27min

    The Waffle House chain of U.S. restaurants, with most of its locations in the nation’s south, is famous for staying open during hurricanes and other severe weather. Now it’s facing what could be a tougher challenge: luring customers who are wary of spending time there because of the coronavirus. It’s all happening in Georgia, whose Republican governor made waves with his decision to let many businesses and restaurants reopen sooner than most people expected—and earlier than medical experts consider advisable. Stephanie Flanders talks with Atlanta-based Bloomberg reporter Michael Sasso about the situation on the ground. We’ll hear excerpts from his interview with a Waffle House spokeswoman, too. Flanders also speaks with returning guest Richard Baldwin, an economist at the Graduate Institute in Geneva and co-editor of a new eBook addressing Covid-19 and trade policy. Baldwin discusses how trade restrictions are exacerbating the damage done by the pandemic—such as making it more difficult to get masks.

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