Together we have the opportunity to build a more sustainable and inclusive future.

At the Bloomberg New Economy Forum, we help make this possibility a reality

by cultivating new connections among global leaders that transcend geographies, industries

and ideologies.

Because when global leaders work together, the outcomes benefit all of us.

Learn more at Bloomberg surveillance podcast. I'm Tom Keene.

Daily, we bring you insight from the best in economics, finance,

investment, and international relations.

Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the

Bloomberg.

It was a book of the year a few years ago and it is a book that has aged well across the financial

crisis, the age of oversupply. Daniel Alpert joins us

from Westwood Capital this morning. Daniel, it's been an extraordinary year a year

everybody wants to forget is we slide into 2021 where is the

output gap where is the dynamics of our oversupply?

Well I think we what we've seen recently, which is fascinating, is the huge resurgence in imports

from China and other countries.

So what we haven't seen is the reshoring of manufacturing, the reshoring of

production in general.

And when I look at the import-export data, it's just fascinating to me how much we are

relying on exogenous oversupply and of course at the worst possible time when a

good deal of our labor force is

...