Surveillance: Global Order Is Shifting, Gallo Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 4 September 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
Stephen Gallo, BMO Capital Markets Head of FX Strategy, says these are dramatic times and the entire global order is shifting. Steve Tsang, University of London SOAS China Institute Director, says Carrie Lam's announcement to withdraw the controversial extradition bill means mainland China is taking a softer approach to Hong Kong. David Sowerby, Ancora Managing Director & Portfolio Manager, brings us an update on the Mid-Cap investing space. And Anne Stevenson-Yang, J Capital Research Directory & Co-Founder, says China is working "mightily" to avoid a crash in the Hong Kong market.
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Transcript
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| 0:37.0 | listen wherever you get your podcasts. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
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| 1:10.0 | Let's bring in Stephen Gallo Shall with G- Mode Capital Markets Head of FX Strategy. |
| 1:14.8 | He joins us on the phone. Stephen, one line from you. |
| 1:18.1 | These are dramatic times and the entire global order is shifting and I haven't even touched upon the broader European |
| 1:24.3 | political backdrop. Stevie just walked me through that what it means for foreign |
| 1:27.7 | exchange. Oh well I feel like I've been banging on this drum for a while now I'll repeat it again. |
| 1:36.0 | The forces that we had become accustomed to prior to the global financial crisis and also |
| 1:41.5 | in the immediate aftermath of the GFC 2008-2009 when the Fed |
| 1:46.0 | started QE, those forces have been going into reverse in terms of US trade policies, in terms of the trend towards a smaller or in fact the |
| 1:56.8 | US will probably be a net exporter of petroleum, petroleum products over the |
| 2:01.8 | course of the next year or so in terms of the |
| 2:05.8 | structural problems that are coming to the surface in China in terms of |
| 2:10.2 | reserve accumulation by major central banks to big net exporting of shifting and this is a dramatic about face for the global economy and that's why the |
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