The world isn’t deglobalising, it’s fracturing – splitting into US and China blocs, along manufacturing, technological, and financial lines. Paul speaks to Neil Shearing, Group Chief Economist at Capital Economics and author of The Fractured Age: How the Return of Geopolitics Will Splinter the Global Economy. Paul and Neil talk about what the hyper-globalisation consensus that economic interdependence was stabilising got wrong, how the return of superpower rivalry will force other countries to pick a side, and the ways investors can navigate this new economic and geopolitical environment.