The end of globalisation at Davos
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 24 May 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Three decades of globalisation risks are going into reverse, according to company executives and investors as world leaders meet in Davos for the first time since the coronavirus pandemic began, and Toshiba set a deadline of May 30 for additional bidders in what could be Japan’s largest private equity deal.
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Mentioned in this podcast:
Business leaders warn that three-decade era of globalisation is ending
Toshiba reveals takeover interest as battle heats up
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.4 | Learn more at equinole.co.uk |
| 0:09.9 | Good morning from the Financial Times. Today is Tuesday, May 24th. |
| 0:13.6 | And this is your FT News Briefing. The global economic elite are in the Swiss |
| 0:18.8 | mountain resort of Davos this week for the World Economic Forum. |
| 0:22.4 | Our correspondents are hearing a lot of talk among executives |
| 0:25.5 | about the end of globalization. For the business elite that goes to Davos, |
| 0:31.2 | the stars are no longer perfectly aligned for the way that they want to operate, |
| 0:34.9 | the way that they like to do business. Plus, private equity firms are circling |
| 0:39.1 | around Toshiba and a deal would likely be Japan's largest ever buyout. |
| 0:44.4 | I'm Jess Smith in Fromark, Filipino, and here's the news you need to start your day. |
| 0:48.5 | Ukraine's president, Vladimir Zelensky, arrived in Davos by video link. |
| 0:57.9 | He spoke to a room filled with powerful business leaders and policy makers, |
| 1:02.0 | and he urged them to help rebuild Ukraine when the war is over. |
| 1:13.0 | Zelensky put forth a reconstruction plan that could cost more than $500 billion. |
| 1:18.8 | He suggested that separate countries and companies rebuild specific cities and industries. |
| 1:24.1 | He also wants frozen Russian assets to be used as compensation for victims of the war. |
| 1:33.6 | Corporate executives in Davos and around the world are taking stock of how the war in Ukraine |
| 1:38.4 | has changed the way they do business. That already changed during the coronavirus pandemic, |
| 1:43.4 | but executives are now talking about the end of globalization. |
| 1:47.3 | To find out more, I spoke with our private capital correspondent Kay Wiggins. |
| 1:51.3 | She's been in New York speaking with executives in private equity. |
... |
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