Rogoff: Inequality Is Fault of Tax, Not Trade

The transcript discusses the relationship between inequality and free trade, arguing against protectionism. It highlights challenges in US exports, particularly in natural gas, and examines the global repositioning of commodity demand. The impact of China's infrastructure development on steel demand is analyzed, along with the transition from capex to opex commodities, indicating a shift in global economic dynamics.

What impact has China's infrastructure spending had on global steel demand?

What transition in the economy is discussed in relation to cap ex and op ex commodities?