Mohamed El-Erian on B-R-I-C-S (& J-E-T-S)

Call Me Back - with Dan Senor

Ark Media

Society, October 7, Hamas, War, Foreign Policy, Geopolitics, Israel, News Commentary, News, Politics, Elections, Palestine, Dan Senor, Government

4.8 • 2.3K Ratings

🗓️ 7 September 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dr. Mohamed El-Erian returns to the podcast to discuss the implications of the recent announcement of the expansion of BRICS, China's economy and possible spillover effects in the West, past forecasting of recession/stagflation, and the Fed's inflation target. We also discuss Mohamed's new book: "Permacrisis: A Plan to Fix a Fractured World" We begin the podcast with a conversation about the upcoming NFL season. To go straight to the discussion about the BRICS, the macro economy and global markets, begin listening at 17:00. Mohamed El-Erian is President of Queens' College at Cambridge University. He serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He’s a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on the board of the National Bureau of Economic Research, and of Barclays and Under Armour. From 2007-2014, Mohammed was CEO/co-CIO of PIMCO and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment. He has been chair of the Microsoft Investment Advisory Board since 2007. Book discussed in this episode: Permacrisis: A Plan to Fix a Fractured World -- https://www.barnesandnoble.com/w/books/1143921882?ean=9781398525610

Transcript

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0:00.0	China has systematically been building little pipes around the US at the core of the system.
0:07.1	They started with bilateral relationships with lots of African countries.
0:12.3	Then we had the Belt and Road Initiative. Then we
0:15.1	had a brand new institution, the Asian Infrastructure Investment Bank. We don't need
0:20.5	it. We have a World Bank. We have an Asian development back, and now we have an expanded
0:24.8	bricks. So what you're seeing is trying to building more and more pipes hoping that at
0:30.0	some point they will get to critical mass and they will fragment the system away from the US.
0:36.8	We should expect China to continue to build an alternative global order. What happened to those forecasts back in the spring about a coming
0:56.9	recession and stagflation? Among those making those predictions was our
1:02.4	frequent guest and fan favorite on this podcast
1:05.1	Mohammed Al-A-L-Rian. One of the issues I've been meaning to check in with Mohammed on is
1:09.4	is he still as gloomy as he was just a few months ago.
1:13.1	I also want to talk to him about recent news of BRICS or the expansion of BRICS.
1:18.2	That's the loose affiliation of Brazil, Russia, India, China, and South Africa, which is now expanded to include a number of countries
1:26.0	that were once G20 countries.
1:29.1	So now geopolitics meets global economics, and I was curious what Mohammed thought are the implications of that development.
1:38.0	And Mohammed has a new book coming out in a couple months.
1:40.0	We'll dedicate a longer conversation to that book as it gets
1:43.2	closer to publication date, but now it is available for pre-order and I've been
1:47.6	perusing it and I wanted to just get his take on what he was trying to do with this book, which is a very novel approach
1:54.8	to writing a book which he'll talk about.
1:57.0	As our listeners know, Mohammed is president of Queens College at Cambridge University.
	...

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