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Money Talks from The Economist

Money talks: Cost of the shutdown

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 15 January 2019

⏱️ 17 minutes

🧾️ Download transcript

Summary

Will the government shutdown in America cause long-lasting economic damage? Henry Tricks reports on how robots and automation will help Chinese firms cope with rising wages and the trade war. Also, what fuelled the huge growth of Canada's state pension fund and what can it teach other countries? Philip Coggan hosts

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Transcript

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0:00.0

This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats.

0:11.0

So you can order your own fries instead of eating everyone else's.

0:15.0

Trains, now on Uber. T's and C's apply. Check the Uber app. Hello I'm Philip Kogan, the Bartleby columnist and this is Money Talks on

0:30.7

Economist. Coming up on today's show, what will be the lasting

0:35.2

effect of the partial shutdown in America? There's the impact of the workers who

0:40.6

were supposed to be paid but they don't have that money and so there's

0:44.3

this concern that that will have this ripple effect throughout the economy.

0:48.3

The benefit of automation in China's textile industry was immediately taken aback by the hundreds of workers sitting

0:56.1

with their heads down in pink caps.

0:58.8

What's even stranger is that they're outnumbered by machines.

1:03.0

And we discuss the giant Canada state pension plan and how it runs its investments.

1:09.8

This fund is quite interesting because it has become such a large investor and it will become a much larger

1:15.0

investor and if it does a good job it will become a model for much of the world.

1:18.8

First, the partial shutdown of the US government over a budget standoff regarding the

1:26.4

funding for the Border Wall with Mexico.

1:29.8

It's now the longest in history, with still no sign of a breakthrough. But what lasting he could the Simea Keynes, the Economist US Economics Editor.

1:43.3

Hello, Simea.

1:44.3

Hello.

1:45.3

So how is the shutdown affecting the economy?

1:49.8

Well, Monday was a snow day in Washington, D's very very pretty and I'm not sure much

1:56.2

work would have been done even if there hadn't been a shutdown that said this has

2:00.4

been going on for a few weeks now. There are about 800,000 workers who are not being paid.

...

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