WEBVTT - Single Best Idea with Tom Keene: Tina Fordham & Ruchir Sharma

0:00:00.080 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

0:00:12.520 --> 0:00:15.120
<v Speaker 2>Single best idea, let me start with a vignette. Today

0:00:15.200 --> 0:00:18.520
<v Speaker 2>was a perfect example. I once said to the founder

0:00:18.640 --> 0:00:23.080
<v Speaker 2>of Bloomberg News, Matt Winkler. I said, Matt, thirty years ago,

0:00:23.480 --> 0:00:27.040
<v Speaker 2>do you understand you invented Twitter? And what I meant

0:00:27.040 --> 0:00:30.520
<v Speaker 2>by that is what was invented on the Bloomberg terminal.

0:00:30.560 --> 0:00:33.640
<v Speaker 2>People go, why does this thing exist? Why is it

0:00:33.680 --> 0:00:36.760
<v Speaker 2>the foundation of everything we do at Bloomberg LP and

0:00:36.800 --> 0:00:42.120
<v Speaker 2>Bloomberg News. And the answer is the immediacy of the headlines.

0:00:42.720 --> 0:00:45.879
<v Speaker 2>So this morning, with all that's going on, with what

0:00:45.920 --> 0:00:52.080
<v Speaker 2>we've learned is two cargo ships seized by the US

0:00:52.200 --> 0:00:55.720
<v Speaker 2>Coastguard Cutter Monroe and others in the North Atlantic I

0:00:55.760 --> 0:00:58.960
<v Speaker 2>think Tom Hanks in that wonderful movie, and also in

0:00:59.000 --> 0:01:03.360
<v Speaker 2>the Caribbean. The basic idea here is the headlines are

0:01:03.520 --> 0:01:06.319
<v Speaker 2>everything and we were saved. Just to give you a

0:01:06.319 --> 0:01:10.840
<v Speaker 2>window into the show by Daniel Curtis sitting at a

0:01:10.880 --> 0:01:16.120
<v Speaker 2>desk in London, who spearheaded this off of the Bloomberg terminal.

0:01:16.200 --> 0:01:21.480
<v Speaker 2>Functions that track cargo ships worldwide, Like right now, if

0:01:21.520 --> 0:01:25.800
<v Speaker 2>there's twenty seven tankers off Singapore, we have shipping clients

0:01:25.800 --> 0:01:29.600
<v Speaker 2>that can actually see those twenty seven tankers. There's a

0:01:29.640 --> 0:01:32.360
<v Speaker 2>little window into how we get out front with the

0:01:32.440 --> 0:01:35.920
<v Speaker 2>story and then collate in our reporting by Alex Wickham

0:01:35.920 --> 0:01:39.040
<v Speaker 2>and others at Queen Victoria Street and over to other

0:01:39.120 --> 0:01:42.800
<v Speaker 2>news sources like Reuter's at NBC and the Associated Press.

0:01:42.880 --> 0:01:47.039
<v Speaker 2>Just a little window there and how the sausage is made.

0:01:47.160 --> 0:01:51.200
<v Speaker 2>We were advantaged today by the perspective of Tina Fordham

0:01:51.560 --> 0:01:56.800
<v Speaker 2>of Fordham Global Foresight on the distance from Venezuela to Greenland.

0:01:56.880 --> 0:02:02.080
<v Speaker 1>So it's bewilderment. I think that Europe and European leaders

0:02:02.760 --> 0:02:09.160
<v Speaker 1>are genuinely struggling to find a vocabulary to respond. And

0:02:09.320 --> 0:02:12.079
<v Speaker 1>as you know, there's a meeting going on right now,

0:02:12.120 --> 0:02:15.480
<v Speaker 1>the so called Coalition of the Willing to discuss Ukraine

0:02:15.560 --> 0:02:18.320
<v Speaker 1>in the future of Ukraine and this you know, this

0:02:18.520 --> 0:02:22.720
<v Speaker 1>deal that's been under discussion. Steve Woodkoff Kushner there, Mark

0:02:22.800 --> 0:02:25.280
<v Speaker 1>Rutze from NATA. They're all meeting, but of course the

0:02:25.320 --> 0:02:30.279
<v Speaker 1>whole conversation has been hijacked by this Greenland discussion.

0:02:30.919 --> 0:02:33.600
<v Speaker 2>Tina Fordham there, I can't say enough about her work,

0:02:33.639 --> 0:02:39.720
<v Speaker 2>particularly last year looking for distress in Venezuela. My book

0:02:39.760 --> 0:02:42.120
<v Speaker 2>of the year, Rushia Sharma. I've never done this before.

0:02:42.200 --> 0:02:44.240
<v Speaker 2>Usually it's a book that comes out, you know, month

0:02:44.320 --> 0:02:47.040
<v Speaker 2>tier two months, they're three months there. His book came

0:02:47.040 --> 0:02:49.760
<v Speaker 2>out eighteen months ago, but it's ever more important in

0:02:49.760 --> 0:02:54.519
<v Speaker 2>twenty twenty five and a compelling read in two twenty six.

0:02:54.600 --> 0:03:00.000
<v Speaker 2>What Went Wrong with Capitalism? Rushia Sharma of the Rockefeller International,

0:03:00.840 --> 0:03:02.480
<v Speaker 2>twenty twenty six.

0:03:02.919 --> 0:03:04.720
<v Speaker 3>If you look at what's happening in the world over

0:03:04.760 --> 0:03:08.160
<v Speaker 3>the past here, then yes, that America is withdrawing from

0:03:08.240 --> 0:03:11.919
<v Speaker 3>the global trade system, but the rest of the world

0:03:11.960 --> 0:03:14.560
<v Speaker 3>is learning to trade without America. So if you see

0:03:14.600 --> 0:03:18.000
<v Speaker 3>what's happened to trade volumes over the last few quarters,

0:03:18.440 --> 0:03:22.160
<v Speaker 3>that America's share is declining in global trade volumes, but

0:03:22.280 --> 0:03:24.519
<v Speaker 3>the rest of the world, the trade volumes are actually

0:03:24.560 --> 0:03:26.840
<v Speaker 3>going up. And as I travel the world, what I

0:03:26.919 --> 0:03:30.680
<v Speaker 3>find is that more and more countries are trading with

0:03:30.760 --> 0:03:31.200
<v Speaker 3>each other.

0:03:31.520 --> 0:03:34.960
<v Speaker 2>Rush Ushima there this morning, We're right on podcasts and

0:03:35.000 --> 0:03:39.880
<v Speaker 2>Apple Music, on Spotify, on YouTube podcasts. A single best

0:03:40.040 --> 0:03:42.880
<v Speaker 2>idea