Single Best Idea with Tom Keene: Richard Portes

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature a conversation with Professor Richard Portes.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news. A single best idea
and this could be you know, a legit forty minute
podcast today. An extraordinary effort today by our team. Jensnordviks

(00:23):
dot buy on foreign exchange, just fiery on euro and
risks to the dollar. He's with Xanti Data. Ana Wong
was on fire looking for a real shift in the
American economy after fourth of July anamog looking for a
four point eight percent unemployment rate and higher after that.
Of course that off the FED meeting yesterday. Rick Atkinson

(00:47):
showed up. We have two summer books this year. One
is on economics and finance Kenneth Rogoff. We'll have Ken
Rogoff in here to talk about is just wonderful sprawl
of a book across Russia, Europe, across Japan. And then
the Future of the Dollar and another book which we
featured today. Rick Atkinson joined us with his magisterial second volume,

(01:12):
The Fate of the Day on the American Revolution. What
an honor. Richard Portis joined us as well. He has
esteemed the London Business School. Professor Portis with a perspective
of the Transatlantic and it hearkens back to World War
to Richard Port us here on the death of Joseph
Nye of Harvard.

Speaker 2 (01:32):
Afraid it looks rather shaky now. Sadly, Joe was a
wonderful person and a terrific intellect, and the soft power
concept really made headway during the day when soft power
could exercise power. Now it seems that we've shifted away
from that. And the environment, the international environment is not

(01:57):
conducive to the use of soft power. We are in
chaos mode honestly internationally and to some extent domestically in
this in this country, in the United States, and a
bit in the UK and some in Europe as well.
So it's it's not it's not good. The multilateral system

(02:18):
is coming apart, and someone like Joe and I for example,
was a great proponent and advocate of multilateral stability, and
it's it's going what an honorative.

Speaker 1 (02:31):
Rich redportis on the late Joseph, and we continued with
Professor portis of course so much to talk about about
domestic United Kingdom politics, mister Faraj and all, but also
of course the special relationship in some form of quote
comprehensive unquote agreement. Looking to Prime Minister Starmer.

Speaker 2 (02:53):
I think starmer Is, the Prime Minister in the UK,
is treading a very fine line and not quite clear
which side of that line he's falling on, as between
the European Union and the United States, and he's trying
to both have it both ways, good relationships with both,

(03:13):
but it's not clear that that's going to be feasible,
so he may in due course have to make some
tough choices. If he will portray this deal with the
Trump is about to announce, he will portray that as
a great step forward. As I've said, I don't think
it's a great step forward. It's useful, but the baseline,
as far as I can, as far as I understand

(03:34):
from the press, the baseline ten percent step tariff will stay.

Speaker 1 (03:37):
Richard Portos with all of his academics in America now
at the London Business School. Just an honorative of him
and U Obedient as well. Today. What a show it
was across the nation on your commute. Thank you so
much for listening. In A major shout out to Google
and all their technology with Android Auto. It's changing radically.
They're really enhancing that software on YouTube around the world,

(04:02):
including Richard Portis London. Thank you for subscribing to Bloomberg podcast,
and out on YouTube podcasts. This is a single best
idea