China’s economy is slowing while America’s overheats, prompting Jerome Powell to suggest this week that the Fed could act faster than planned. As the Omicron variant triggers a fresh wave of travel restrictions, is the world economy caught between a rock and a hard place? Host Patrick Lane and Henry Curr, our economics editor, assess the threats to global growth.

With Carmen Reinhart, senior vice-president and chief economist of the World Bank group, and Wang Tao, chief China economist and head of Asia research for UBS, an investment bank.

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