UBS On-Air: Paul Donovan Daily Audio 'Welcome to Scapegoat Economics'

UBS On-Air: Market Moves - A podcast by Client Strategy Office

When economies go through structural upheaval, inevitably some people win and some lose. The causes of this are complex, but people tend to prefer simplicity over complexity—and look for a single scapegoat to blame. Foreigners make an ideal scapegoat. Sino-US relations represent this trend. The US is complaining about “unfair” Chinese national champions. China is complaining about US-led efforts to “suppress” China. Scapegoating distracts from more serious structural problems in each economy.