Global imbalances, all over again | Gulf economies in crisis

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Global imbalances are back. But how serious is the threat this time, and could they trigger the next phase of global economic instability? Group Chief Economist Neil Shearing joins David Wilder to unpack what is driving balance of payments positions to worrying extremes, why a more fragmented and volatile world raises the stakes, and why Donald Trump and Xi Jinping are unlikely to take meaningful steps to address these tensions when they meet next month.Also on the show, Deputy Chief EM Economist Jason Tuvey examines the economic shock hitting Gulf economies as a result of the Middle East conflict, and what it means for their long-term development ambitions.Related contentDrop-In: China’s shock to the eurozone – economic fallout and policy choiceshttps://www.capitaleconomics.com/events/drop-chinas-shock-eurozone-economic-fallout-and-policy-choicesCan China’s trade surplus rise further?https://www.capitaleconomics.com/publications/china-economics-update/can-chinas-trade-surplus-rise-furtherWar dealing a heavy blow to the Gulf economieshttps://www.capitaleconomics.com/publications/middle-east-north-africa-economics-update/war-dealing-heavy-blow-gulf-economies