UBS Daily Audio with Paul Donovan: The Economics of Scapegoating

In this UBS Daily Audio, Paul Donovan notes that China’s official Q3 GDP growth of 4.5% year-on-year means the official growth target for this year is likely to be met. Despite stronger retail sales in September, the domestic economy remains weak, with exports driving growth. The ability of US companies to avoid some tariffs is now threatened by ongoing economic nationalism—a form of scapegoating economics.