Zeihan Shares Mixed Outlook on Economy Due to COVI

Media Center:Zeihan Shares Mixed Outlook on Economy Due to COVID-19

Zeihan Shares Mixed Outlook on Economy Due to COVID-19

Global strategist and author Peter Zeihan addressed Iowa bankers during the IBA's Leaders Speaker Series Wednesday. Zeihan discussed the history of trade and the political issues that have impacted global trade over the years as well as how it has been shaped by the COVID-19 pandemic. He said the pandemic has pushed the U.S. into a true recession, and that the U.S. will likely not recover until 2022 when an effective vaccine has been widely distributed. He noted that the reorganization of key trading partners by the Trump Administration, however, has put the U.S. in position to capitalize on changes to the global trade environment.

Zeihan also examined the trade negotiations between the U.S. and China, which he said does not have a positive outlook. The animosity between the two countries will lead to more actions taken against each other, which Zeihan said will almost certainly have negative impacts for U.S. agriculture. Long-term, his outlook for Iowa agriculture was positive as the U.S. remains the most reliable supplier for a growing world population. He also said there are opportunities in manufacturing as certain industries move back into the U.S.

The next session in the series will be an election discussion with Charlie Cook of Cook Political Report on Oct. 22. Along with access to the remaining sessions in the Leaders Speaker Series schedule, registration comes with recordings of each session, including the first three sessions. Register for the Leaders Speaker Series.