China Needs to Resist Temptation of Traditional Retaliation, Sheard Says

The transcript covers the resignation of David Davis as Brexit Secretary and its impact on the British pound, the Chequers meeting and Theresa May's soft Brexit plan, and the potential effects of Brexit on the global economy. It also discusses US trade policy under the Trump administration, the possibility of a global trade war, and China's role in global trade, particularly regarding intellectual property issues. Finally, it examines the US policy response to a potential trade war and the Federal Reserve's role in managing economic impacts.

What was the immediate market reaction to David Davis's resignation as Brexit Secretary?

• The British pound remained stable.

• The British pound was unaffected.

• The British pound lost value.

• The British pound gained value.

What was the main goal of the Chequers meeting led by Theresa May?

• To finalize the Brexit deal with the EU.

• To establish a plan for a hard Brexit.

• To achieve cabinet unity on a soft Brexit plan.

• To negotiate directly with EU leaders.

What is a significant risk associated with a disorderly Brexit?

• Improved UK-EU relations.

• Global economic instability.

• A stronger EU economy.

• Increased UK sovereignty.

What is a key issue in the US-China trade relations discussed in the transcript?

• US immigration policies.

• China's environmental policies.

• China's military expansion.

• Intellectual property rights.

How might the Federal Reserve respond to a trade war's impact on the economy?

• By increasing interest rates.

• By decreasing interest rates.

• By maintaining current interest rates.

• By focusing on employment policies.

What is the potential consequence of a trade war according to the transcript?

• Strengthened global trade agreements.

• A win-win situation for all countries.

• Escalation into full-fledged trade wars.

• Improved US-China relations.

What is the role of the US in the global economy as discussed in the transcript?

• The primary global exporter.

• The leading global investor.

• The global policeman and consumer.

• The sole global consumer.