Summary
How power moved from West to East after the 2008 financial crisis. Ian Goldin, professor of globalisation and development at Oxford University, explores how Asian nations, especially China, demonstrated resilience, and rebounded quickly from the crisis. This led to a profound loss of faith in the ability of the Western leaders to manage the global economy effectively. Interviewees: Ngozi Okonjo-Iweala, former finance minister, Nigeria Nick Stern, former chief economist, The World Bank Jeffrey Sachs, professor Columbia University Kumi Naidoo, secretary general, Amnesty International Willem Buiter, former Chief Economist, Citibank Martin Wolf, the chief economics commentator, The Financial Times Kishore Mahbubani, professor, University of Singapore Justin Lin, professor, Beijing University Adam Tooze, author of 'Crashed' Christine Lagarde, managing director, International Monetary Fund
Producer: Beth Sagar-Fenton
Transcript
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| 0:00.0 | Just before this BBC podcast gets underway, here's something you may not know. |
| 0:04.6 | My name's Linda Davies and I Commission Podcasts for BBC Sounds. |
| 0:08.4 | As you'd expect, at the BBC we make podcasts of the very highest quality featuring the most knowledgeable |
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| 0:36.0 | This is the BBC. |
| 0:40.0 | Hello and welcome to the first in a new series of eight episodes of analysis. |
| 0:44.0 | We've got some fascinating podcasts coming up for you. |
| 0:47.0 | I know I always say this, but please do rate or review analysis on the site where you got this download if you can. It really does make a difference. |
| 0:55.0 | A decade ago, the world was plunged into the worst financial crisis of the post-war era. |
| 1:00.0 | There's been a lot of examination of how the Great Depression affected our economies, |
| 1:05.0 | but how did it affect the global balance of power? |
| 1:08.0 | Over now to Ian Golden, Professor of Globalisation and Development at Oxford University. |
| 1:15.0 | Let's go back a decade. |
| 1:17.0 | It was an historic day with Wall Street shaken to its very foundation |
| 1:22.0 | and even the health of the most trusted firms are now |
| 1:25.7 | being called into question. |
| 1:29.4 | The collapse of one of America's biggest investment banks has sent shock waves around the world. |
| 1:34.6 | Share prices have plummeted and thousands of jobs are in jeopardy. |
| 1:41.2 | This is a pivotal moment for America's economy. |
... |
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