WEBVTT - Single Best Idea with Tom Keene: Dr. Richard Portes

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. A single best idea

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<v Speaker 1>and this could be you know, a legit forty minute

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<v Speaker 1>podcast today. An extraordinary effort today by our team. Jensnordviks

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<v Speaker 1>dot buy on foreign exchange, just fiery on euro and

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<v Speaker 1>risks to the dollar. He's with Xanti Data. Ana Wong

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<v Speaker 1>was on fire looking for a real shift in the

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<v Speaker 1>American economy after fourth of July anamog looking for a

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<v Speaker 1>four point eight percent unemployment rate and higher after that.

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<v Speaker 1>Of course that off the FED meeting yesterday. Rick Atkinson

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<v Speaker 1>showed up. We have two summer books this year. One

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<v Speaker 1>is on economics and finance Kenneth Rogoff. We'll have Ken

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<v Speaker 1>Rogoff in here to talk about is just wonderful sprawl

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<v Speaker 1>of a book across Russia, Europe, across Japan. And then

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<v Speaker 1>the Future of the Dollar and another book which we

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<v Speaker 1>featured today. Rick Atkinson joined us with his magisterial second volume,

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<v Speaker 1>The Fate of the Day on the American Revolution. What

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<v Speaker 1>an honor. Richard Portis joined us as well. He has

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<v Speaker 1>esteemed the London Business School. Professor Portis with a perspective

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<v Speaker 1>of the Transatlantic and it hearkens back to World War

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<v Speaker 1>to Richard Port us here on the death of Joseph

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<v Speaker 1>Nye of Harvard.

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<v Speaker 2>Afraid it looks rather shaky now. Sadly, Joe was a

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<v Speaker 2>wonderful person and a terrific intellect, and the soft power

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<v Speaker 2>concept really made headway during the day when soft power

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<v Speaker 2>could exercise power. Now it seems that we've shifted away

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<v Speaker 2>from that. And the environment, the international environment is not

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<v Speaker 2>conducive to the use of soft power. We are in

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<v Speaker 2>chaos mode honestly internationally and to some extent domestically in

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<v Speaker 2>this in this country, in the United States, and a

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<v Speaker 2>bit in the UK and some in Europe as well.

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<v Speaker 2>So it's it's not it's not good. The multilateral system

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<v Speaker 2>is coming apart, and someone like Joe and I for example,

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<v Speaker 2>was a great proponent and advocate of multilateral stability, and

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<v Speaker 2>it's it's going what an honorative.

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<v Speaker 1>Rich redportis on the late Joseph, and we continued with

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<v Speaker 1>Professor portis of course so much to talk about about

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<v Speaker 1>domestic United Kingdom politics, mister Faraj and all, but also

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<v Speaker 1>of course the special relationship in some form of quote

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<v Speaker 1>comprehensive unquote agreement. Looking to Prime Minister Starmer.

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<v Speaker 2>I think starmer Is, the Prime Minister in the UK,

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<v Speaker 2>is treading a very fine line and not quite clear

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<v Speaker 2>which side of that line he's falling on, as between

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<v Speaker 2>the European Union and the United States, and he's trying

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<v Speaker 2>to both have it both ways, good relationships with both,

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<v Speaker 2>but it's not clear that that's going to be feasible,

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<v Speaker 2>so he may in due course have to make some

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<v Speaker 2>tough choices. If he will portray this deal with the

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<v Speaker 2>Trump is about to announce, he will portray that as

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<v Speaker 2>a great step forward. As I've said, I don't think

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<v Speaker 2>it's a great step forward. It's useful, but the baseline,

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<v Speaker 2>as far as I can, as far as I understand

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<v Speaker 2>from the press, the baseline ten percent step tariff will stay.

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<v Speaker 1>Richard Portos with all of his academics in America now

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<v Speaker 1>at the London Business School. Just an honorative of him

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<v Speaker 1>and U Obedient as well. Today. What a show it

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<v Speaker 1>was across the nation on your commute. Thank you so

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<v Speaker 1>much for listening. In A major shout out to Google

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<v Speaker 1>and all their technology with Android Auto. It's changing radically.

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<v Speaker 1>They're really enhancing that software on YouTube around the world,

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<v Speaker 1>including Richard Portis London. Thank you for subscribing to Bloomberg podcast,

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<v Speaker 1>and out on YouTube podcasts. This is a single best

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<v Speaker 1>idea