Stock market meltdown: What happens next?

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UnHerd's Freddie Sayers sits down with Wolfgang Munchau and Anatole Kaletsky.

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UnHerd’s Freddie Sayers holds an emergency roundtable with economic commentator and director of the Eurointelligence blog, Wolfgang Munchau, and Gavekal’s chief economist, and author of Capitalism 4.0, Anatole Kaletsky.

Trump’s tariff trade war is impacting global stock markets. Has the economic world order been upended? Is UK Prime Minister Keir Starmer right that this marks the ‘end of globalisation’? Are governments teetering on the edge of a 2008-style recession, and what do they do next?

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// TIMECODES //

00:00 - 01:15 - Introduction
01:15 - 09:50 - Is this the end of globalisation?
09:50 - 25:16 - How will the UK, Europe and Asia react?
25:16 - 28:28 - Trump’s aim: dollar devaluation and the Art of the Deal
28:28 - 39:06 - Where does China fit into the new world order?
39:06 - 54:00 - The winners and losers of Trump’s tariff war
54:00 - 54:38 - Closing thoughts


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