Special Edition: What Infrastructure Spending Means for You

GZERO World with Ian Bremmer

GZERO Media

International Relations, Government, Foreign Policy, Gzero World, News Commentary, Trump, News, Global Economy, Geopolitics, Politics, Ian Bremmer

4.6 • 684 Ratings

🗓️ 9 September 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

There's a desperate need in the US to improve our infrastructure, much of which was built when the population was half the size it is today. After decades of neglect, President Biden’s infrastructure plan is poised to pump a trillion dollars into the economy to not just modernize bridges and roads, but also boost manufacturing, R&D, clean energy, climate resilience and more. What could this investment mean for the economy, politics, and your bottom line as an investor? The latest episode of Living Beyond Borders, a special podcast series from GZERO brought to you by Citi Private Bank, explores those themes in detail with some top experts in finance and geopolitics. Moderated by Caitin Dean, Head of the Geostrategy Practice at Eurasia Group, this episode features Jon Lieber, Managing Director at Eurasia Group; David Bailin, Global Head of Investments and Chief Investment Officer at Citi Global Wealth; and Adam Minehardt, Director of Federal Government Affairs in the Washington, D.C. Global Government Affairs Office at Citigroup.

Transcript

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0:00.0	Welcome to Living Beyond Borders, the podcast from City Private Bank and G0 Media that examines the risks and opportunities in our rapidly changing world, from global politics to economics and what it all means for you.
0:23.2	I'm Caitlin Dean, head of the Geostrategie practice at Eurasia Group.
0:28.4	It was a day like many others in Minneapolis, August 1st, 2007.
0:33.8	Parents headed to work, kids headed to summer camp, and trucks carried goods through the city on their way to other locations across the U.S.
0:41.3	Then disaster hit.
0:43.3	One of the main iconic bridges in the Twin Cities has collapsed.
0:47.3	The entire bridge is in the water, 35W bridge is in the water.
0:51.3	A tragedy that is horrified this community, but perhaps put in everyone's mind, the question
0:57.6	is the bridge I drive over every day stable?
1:01.1	In America, a bridge just shouldn't fall down, especially not in eight-lane interstate
1:06.7	highway, especially not one of the most heavily traveled bridges in the state, especially not
1:11.9	at rush hour in the middle of a metropolitan area.
1:15.6	The I-35W Mississippi River Bridge collapsed during evening rush hour, killing 13 people, and injuring
1:22.3	135.
1:24.5	The bridge was 50 years old, and the collapse was blamed on a design flaw.
1:29.6	At the time, people demanded action and investment to improve the dire circumstances around
1:34.5	infrastructure in this country. But that disaster was nearly 15 years ago. And, like with many
1:41.0	other disasters around the world since, the motivation soon fizzled.
1:45.6	Since then, the picture hasn't improved much, with the U.S. Government Accountability Office
1:50.0	recently finding that almost one out of every four bridges in this country is deficient.
1:56.0	Many of our roads, railways, and airports were built at a time when the country's population
2:00.5	was just half of what it is today.
	...

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