In this episode of The Geopolitics of Business, Stephanie Flanders, Head of Economics and Government at Bloomberg, explores how the shift from globalisation to systemic geopolitical competition is reshaping markets, economic policy and corporate strategy. Drawing on decades of experience analysing financial crises, political shocks and global macro trends, Stephanie explains why politics has become the dominant economic risk — and why markets may be underestimating the long-term consequences of fragmentation.
She discusses the breakdown of the post-war rules-based order, the transactional approach of major powers, and the strategic dilemmas facing so-called “middle powers” such as the UK. Stephanie examines the tension between resilience and efficiency, the impact of AI investment on market stability, the risks of low growth in the UK, and the rise of populism as both a political and economic force. She argues that in a world where deals are temporary and alliances fluid, leaders must prioritise strategic autonomy and supply chain resilience over short-term optimisation.
Host: Sam Gyimah, Founder and CEO of SG& Capital Partners
Producers: Clare Williamson and Duncan Williamson for TGOB Media Ltd in partnership with SG& Capital Partners Ltd
Music composed by: Sophie Sirota
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You can find a summary of the key points in this episode in The Geopolitics of Business Newsletter
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