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Francine Lacqua

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2026-06-27
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2026-06-27
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  1. And the one that really resonates with our viewers is where someone says, well, you know what's really important is not promoting the wrong kind of people. I mean, it doesn't get more basic than that. But if you have larger organizations, that gets lost. And so it's having common sense and kind of going back to leading in the same way if you had 10 people than if you have 100,000 that kind of usually gets them a little bit ahead.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  2. I mean, what drives them, I think, is success, right? And it usually works if it's success for, I mean, I don't know if it's great or good, that's a little bit like, you know, rose water. But if it's something that says, look, we're in this together and we'll do better. There's a pattern which I've been seeing in people how problems or how they see problems. And a lot of the people that are most successful look at data. And this is not for politicians. I'm speaking about chief executives, but they look at data, and they're able to see in the data pattern where it doesn't work out. And this is where they're able to either spot opportunities. Then I see a lot of just common sense, right? I mean, one of the, so I do a leadership podcast with chief executives.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  3. Productivity is coming from the US, and I'm hearing more chief executives saying, well, actually, I'm thinking of listing in the US rather than say, oh, you know what, I don't really want to do business in the U.S. So it's quite, yeah. Complicated going forwards, but something to think about.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  4. I don't think it means it won't happen because I think maybe under closed doors there is a lot more organization and countries will want to help themselves if they have the same beliefs because we are seeing trading blocks chained depending on whether you're an ally or not in terms of thinking. But again, it will take a long time to play out. I don't think it's something of tomorrow. I think Mark Kearney maybe would have wanted more countries to say, oh, yep, I'm in, let's do this together. And that hasn't really quite played out because even decoupling from the US or disaligning is very tough at the moment. I mean, the U.S. has a very strong economy. Matter what you think about the president and his leadership style. Innovation is coming from the US.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  5. Yeah, so the middle power, look, Mark Carney is a little bit of the beacon of, and he called Canada that middle power, and I was in Davos actually. He gave an incredible speech where he really was very honest about the fact that we're not going back to the old world. And I do think it's a human trait to want to hang on to what you've known all of your life. So the benefits of globalization and things like that. He hasn't been able really to form an alliance. I mean, I remember from, you know, I don't know if it was January 20th or 21st, we were kind of on the watchout and saying, well, could you see a kind of alliance with, you know, so Canada, the UK, maybe Finland for some kind of trade bloc that would somehow be the David and Goliath masterful fight with the US, that hasn't really been proven?

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  6. Nigel Farage is popular now. I don't think there's going to be a big switch because of Brexit. Maybe there's a big switch because of something else, but I don't think Brexit will be the one that changes people's minds.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  7. And for politicians to say, you see, this is because of Brexit. And if you can't pinpoint to something, voters don't tend to agree with you. Voters have a nagging feeling about something not right. They just don't feel good about the economy. So when we look at charts, sure it's affordability, it's housing, it's education, it's inflation. But sometimes they're not able to really explain why. And I think the relationship between the UK and the EU is very difficult to, I mean, you can put it into numbers. But the Brexit vote was a bit more of a feeling than numbers. And so I don't know, we've seen it play out. It's been 10 years.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  8. So we did a brilliant report last week, actually, because it's 10 years of Brexit. And so we looked at some of the median deviation on growth. I think what we'd said from the start is that it's very difficult to untangle the effects of Brexit compared to the rest of the world, right? So there's an energy crisis. There was trade. And so I think even if there's a poll that says that some people would like to rejoin, I think it'd be very difficult to actually prove at the end of the day exactly what kind of effects this had because it all gets muddled into one. So is my energy cost higher because of the trade, because I wasn't allowed to trade with Europe, or was it because of everything that's been happening in Ukraine and the central bank? So I think hindsight is a beautiful thing, but I think it's very difficult for this to be played out.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  9. Because we're not used to it. Innovation at this level, the US has just been much stronger on it because from the start 40, 50 years ago, this was a matter of political influence. So if you look at the space race, I mean, this was really a matter of getting your allies hooked to some of their technologies. And so it was treated just like a trade policy. And I think Europe for a long time failed to see that.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  10. Right, to explore some of that with universities. I mean, the UK has, for me, the most amazing universities in the world. They compete sure with MIT and a couple in the US. You've had innovation, you've had a lot of the vaccines, and that was useful, and that was public-private money that worked together. In a lot of the other places, you need to make sure that there's a mutual understanding that this is a business, that we go in it together, and I as a state reap some of the rewards. Because otherwise, then it goes to different parts of the world. And this, I think, is more relevant to innovation. So if you look at some of these partnerships in the past, they run infrastructure. So on infrastructure, okay, we come together, we do a road, we do an airport, and we share the profits. There's not much of the innovation that has to go anywhere. But as we look to the future and some of these new technologies, that has to be baked in. And I tried to ask actually, you know, Marina Matsukado, if this was because we weren't good at thinking about these contracts between the government and the...

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  11. So it's a great question, and I've spoken to Mariana Matsukado a lot about this. She looks at it a little bit differently from some of the global institutions, so again, the IMF is very open to public-private partnerships. Brookfield, asset manager, also does quite a lot of public partnerships, especially when it comes to infrastructure. Now, Professor Matsukajo's main points, which is difficult to disagree with, is that when you have a public-private partnership and you get money from a state actor, you need to make sure that you get something back. She says in the contract, if I'm the state, you're private, I give you money for innovation, I need to get something back, right? This is not free money that goes and then you go to the US or somewhere else. And I have a lot of sympathy for that, right? There's a lot of the public-private partnerships, especially in the US, where the founders were locked in.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  12. Cultures, different countries, but there is an understanding that the leader takes care of you somehow. You don't feel that in a leader, that's when people feel lost and they want to change.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  13. It is. I don't know if it should be. So I have a very weird relationship with the word charismatic. Usually it means that you're upbeat, that you get people involved. But if it's not based on substance, then what is it? I think the fighting spirit is maybe what I would look for, decisiveness, is something that's important in leaders rather than charisma. But you're right, charisma has elected presidents, have failed presidents in all parts of the world, in the US, in the UK, certainly has in France, Italy, and even Germany. So you have to believe your leader. Like at the end of the day, there's a social contract which was started in the 18th century, which is, look, I give this, I work, but the state does this for me. And he does this depends on whether you're right or left. It could be completely deregulate and make you agent of your own destiny, or it can say, look, I'm going to give you social welfare, social security, and take care of you in difficult times. And this is what the social contract is. And again, it means different things to different cultures.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  14. He's been having a lot of bad weeks. I know the local actions that go to plan. But if you don't have your party behind you, then it becomes really, really difficult.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  15. It is a leadership question. I think he's seen as not having the right temperament. I think that's probably his biggest flaw. You know, there was the Mandelson saga, which definitely didn't go well for him. And if you analyze that, it was almost a very... To the extent of how toxic Peter Mandelson was. Now, in every good leadership lesson, whether you're a prime minister or a chief executive, you have to foster a culture where people kick up real concerns. And the fact that he was unable to do that, I don't know if it's a sackable offense, but certainly it doesn't look great on the CV. I think maybe people expect too much of leaders today given all of the uncertainty they want to be led. They want to feel safe. Again, the other leadership lesson is that you have to hold your party. If people didn't challenge him,

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  16. It's too big for any person. I don't think it's right. Or certainly they probably don't think it's right that it belongs to one single entity And so I think it'll be tricky.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  17. People have agency, but at the end of the day, once you're listed, you have shareholders that you have to reply to. And so now is probably the time to think about all of that. But I do see the zealous regulation that was maybe in Europe four or five years ago has been a little bit lost because of this race that's being accelerated.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  18. So I get asked a lot Is he a good guy? Is she a good person? I don't think it means anything. You can be a good person with the best intentions. I think when you are in charge of companies that make billions of pounds or that have a value of a trillion Once you're listed If you don't deliver that commercial revenue, then you will be get rid of. And so it doesn't really matter if you're a good person or not.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  19. I've spoken to him many times, and I think he also did an event here. I think he speaks quite truthfully in saying he is probably now in a race that has so many billions at stake that some of the questions that he would like to think about, which is regulation, which is the future of humanity, can't really come into this, right? And we know Dario Mode is thinking about it, but again, if you're in a race to make money, to be the first, if it's technological advancements that you need to push through, It's difficult to take time out of that to think about regulation or some of these big philosophy kind of morality questions that we'll be faced with.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  20. Of banks, be it central bank, ECB, or the banks themselves saying, well, the US have a really unfair advantage because they've been playing around with methos and they can't get their hands on it. Does that equalize in three, four years? Is it really first mover advantage at everything? I'm not sure, but I think Europe really wishes they had some of these big personalities in Europe. Now, there's Demis. Of course, he's UK. He's London-based, Google DC.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  21. So, I think there's a problem if you're sitting in Europe at the moment, because you could see a world where you integrate your systems. And we haven't really been able to get to the bottom of, but you integrate your systems in the NHS or your warfare or your defense systems. And because it's American technology, do you have fully ownership of that, or is there a kill switch that the U.S. government can say, right, that's it? You need to change. So again, the doomsayers will say you're going to have two to three systems where the US will be much more advanced and kind of driving this. Europe will be left behind somewhere in the middle, and China will go out their way. I mean, that is, I think, the big risk for Europe and European sovereignty. You hear a lot of chief executives trying to integrate these systems in saying, I wish I had a European equivalent because that would make my life easier because I would feel more supported and I'd feel better at ease on this question of sovereignty. I know there's also a huge debate with regulators.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  22. For me, the big problem, and I hear that a lot from people in leadership position, is that as soon as you talk about regulating, business say, well, that's a European problem. You regulate because you can't innovate. And so it's almost a dirty word to talk about regulation. So social media is one thing, and maybe we can talk about the ban for social media under 16s, which is completely different. But if you start thinking about these bad ideas that you would regulate artificial general intelligence or how much you use it or how, you know, or the access you can have to it, I think at the moment it's seen as a bad word. I think you're seen as not an innovator as you're seen as backward-looking, as a dinosaur. And so apart from a few parliamentarians in Europe that still look at it very seriously, I think businesses really push back against regulation.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  23. I mean, I think the chief executives that are, I guess, the most honest will say, I understand it's important and I don't want to miss out, but I don't have a full understanding of what this will become, a little bit like Amazon. I mean, we looked back because of the spacex IPO at some of the big moments in time where in recent times where, for example, Amazon, I mean, when they IPO, people were saying like, what books online? I quite like my bookstore. And so you understand that there's something that you can't miss out on. You understand that it's something that will probably change the way we work, that will make us more productive. Everybody thought it was disinflationary, but actually it is definitely inflationary in the shorter term because of the amount being spent and the race.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  24. You know what a person is spending on digital tokens, which means what they're spending in their day to day job to play around with AI is higher than their salary. I mean, this is not really sustainable. And so when you speak to the people in charge, they say, well, I want them to play around at the moment, but at some point I'm going to have to look at costs, and that will have to change.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  25. I have a hunch, but again, it could change that it is the US, and I think the only two people in the race is US and China. I think you do have companies such as Mistral AI in France that's considered one of Europe's greatest hope for AI. But actually what they do is going to be vastly different because they will integrate unless there's a big sea change. They will integrate some of these models in enterprise. And so the way I would see it is not everyone can afford a Ferrari. Not everyone can afford millions of pounds to spend on Clode or some of these very expensive digital tokens that a lot of the companies are using now. And so you'll have spin-off models that will kind of take these super sexy models and integrate it into their system. So again, when you speak to a lot of the chief executives, especially the kind of the very sophisticated ones, I mean, we've had and we've reported on instances where

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  26. No, and I don't think the people that are building it themselves know. My favorite question to ask, especially if it's off camera, is where is China and all of this? And I'm often told, don't worry, they're six to eight months away. It's like six to eight months away. I mean, that feels awfully close. I don't think who will be the big winner? I don't think there is one winner. There could be two or three

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  27. But there has been an optimistic belief in the market that a deal could have been reached even if all the military folk were saying like, look, we're not seeing how a deal gets through on nuclear and things like that. And I think it's because you can't really afford to bet against the U.S. president.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  28. Well, I mean, the business world has to figure out what's policy and what's not. So they need to cut out what the noise is. And so when you look at these policies, they kind of have to decide whether they believe it or not. And I think there's a huge amount of FOMO in the market. So if the president tells you every three days that they're very close to a deal, well, you don't want to miss out. I mean, at the end of the day, the market is there to put the money. So to make money. So you don't want to be on the wrong trade of the trade. You don't want to miss the time where there actually is a deal, which is why the market has been behaving a lot badly. I mean, weirdly, I don't know if there are many markets people, but if you look at oil, I mean, this is a conversation that we have almost every day. It's like, why has it been okay? So some of the disruption has been priced in.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  29. Now it's not clear, and it kind of goes backwards and forwards. And this big Wall Street banker who's been around for 30 years told me, like, no, you're thinking about it wrong. You shouldn't look at policy through tweets. So, how do you look at policy? And he says, Look at the advisors, you need to have connections in. I mean, the way that leaders communicate also, I remember getting a press statement. And sometimes you were able to listen in to press conferences or even when the president of the United States was speaking to his staff. Now it's different. It's policy by tweets, all times of day. And so that the communication is very different. And I think we're used to it a lot more.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  30. I mean, I think Donald Trump changed everything. I think there's not much dissent in the Republican Party. That means that he's in control and he has support. I've also been told something quite, for me, surprising by a big Wall Street banker recently, because we were talking about the fact that it's very difficult to know U.S. policy. I mean, it's really difficult to understand whether there's a real deal with Iran or not. The latest is this memorandum of understanding. I think it's the 28th time that the president said that we're going to have something concrete. I mean, you've done foreign policy all your life. Ten years ago, the president of the US said, there's a deal, there's a deal.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  31. So you go into business for a while, and then you want to be part of the party to kind of give back. It also means that because there are not elections every three, four years, and I'm not saying this is a good or bad thing, but you can see longer term, which is why their attachment and the way that they think about problem solving, if you have 10, 15 years where you can get to natural resources, where you can get to copper and lithium, it's much easier than if you have to be popular every second of the day because you're worried about seeing votes. So the psyche is completely different. And so having more time means that you can build better foundations.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  32. So I've been trying to get into China for an extended period of time for a long time. And I've been trying to understand exactly what China wants, what China brings, how China views the world. And I've always been told that

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  33. I think less people, and I saw a poll recently, less people want to go into politics. So it means that the number of people that you can choose from is getting smaller. It's also extremely difficult for a politician to be everything to everyone, which is kind of needed, right? So you have to be able to speak to the media and be good at the media. You have to be able to hold your party together even if there are various factions and becomes messier. And I think as soon as you show a little bit of a sign of weakness, then other people want to challenge you. And I'm not necessarily speaking about the UK, but there is, you know, we went through it in a lot of countries in Europe. And that if you don't do a good job, your party doesn't give you a lot of time to recuperate. They don't give you the time even two, three years to see where it lands. And with all these external...

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  34. Don't have time for news. I'm becoming more stupid by the hour. Fine. Since is there a politician that doesn't do that? And so why? Because they feel like they need to connect and it's much better if it's told through their eyes. Their own voice

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  35. It is, but because of a lot of social media. Like I remember 10, 15 years ago, let's say 20 years ago, if you were a central banker, you'd come on Bloomberg to try and give a message to markets. Now, when you speak to central bankers, and it could be the EC Bureau of the Bank of England, they feel like they need to speak to the person that takes out the mortgage because they want to make sure that people understand what they do. So there's much more pressure to be understood. Now, it's fine to understand about inflation in central bankers. I don't know if people want to understand that. I mean, it's kind of the plumbing. As long as it works, I don't know whether it's, you know, we need to understand exactly the swaps and the guilt market. But a lot of leaders feel that so that they're not misportrayed, they need to speak directly to the consumers, to the people. And I think it's the same for chief executives. I think it's the same for world leaders. I mean, I started doing this funny one minute and a half video where I talk about the five things that I look at every day. And I started doing it for my friend Alexandra had four kids in COVID and said,

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  36. I think the focus on the personality, and that's probably because of the advent of social media, is probably everywhere. So Italy has Matteo Salvini, France has Marine Le Pen and now Jordan Bardella. And so it's people that crystallize, I guess, the imagination of something that is anti-system. I mean, you have the same in Germany with the AFD. And so it's ideas that suddenly also become what I hear a lot about Nigel Farage because he's also on TV and so that's the way that you speak to citizens is much clearer or more direct is that he speaks like them and he thinks like them and I think again that's very powerful tool and you see the same in France when people speak about Marine Le Pen has a different connotation because of her father and she's been around for a very long time

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  37. And I don't know if it's not worked or with the rise of China and a lot of the emerging markets where they've been doing goods that are much cheaper, it kind of puts the whole business model a little bit on the brink.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  38. It's an anti system party that Italy tried three, four years ago and then went back to a little bit more mainstream. It's a I'm fed up with whatever is coming next feeling. And that goes, I think, to the multiple forces that our society is having to deal with. When you speak to leaders, and again, we speak about leaders and we talk about chief executives and prime minister, but what is a leader? A leader is someone who makes decisions for people. So you could be a leader of four or five employees, and you have to make that decision very well. I think it's very unsettling at the moment to look at where the world economy goes. I mean, 15, 20 years ago, there was a much clearer view if you put the I guess the financial crisis to one side, but there was a much clearer view on I have kids, my kids will become doctors, or they'll do this, or the globalization people believed in. So people went along with what the elite were telling them for a while.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT

  39. I mean, this is a party that's been really campaigning for it's an anti-immigration party for a number of reasons that goes to, again, jobs, globalization that is a little bit more inward-looking. And you see patterns of that emerging, starting with the US.

    2026-06-27 · Intelligence Squared · The Intelligence Squared Economic Outlook: Leadership Special, with Francine Lacqua (Part Two) · IDENTIFIED FROM THE TRANSCRIPT