Update from Davos: Can industrial policy really work? With Beata Javorcik

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• 00:06

  Hello and welcome to the Economics Show.

• 00:08

  I'm Sam Fleming, the FT's economics editor.

• 00:10

  Today I'm joining you from the snowy.

• 00:12

  Peaks of Davos and I'm sitting in.

• 00:14

  The FT's temporary outpost in the Swiss.

• 00:16

  Resort known as FT House.

• 00:19

  We are here for the annual World Economic Forum jamboree.

• 00:22

  Fully conscious that the world's attention this week is full firmly elsewhere,

• 00:27

  namely on Washington D.C. where Donald Trump was inaugurated in sub zero conditions on Monday.

• 00:32

  But many of the economic themes raised by his second presidency are firmly up for debate here in Davos this week.

• 00:39

  And I want to home in on one of them,

• 00:41

  the rise of state capitalism and economic nationalism with my guest, the economist Beata Jarvocyk.

• 00:48

  Beata is the chief economist of the European bank for Reconstruction and Development,

• 00:52

  which is a London based lender owned by a panoply of governments around the world,

• 00:56

  including the us, uk, Japan, China and indeed Switzerland.

• 01:01

  Born in Poland, Beata is a professor at Oxford,

• 01:04

  former official at the World bank and a specialist in international trade.

• 01:07

  Beata, welcome to the show.

• 01:09

  Hello Sam.

• 01:11

  So, a brief bit of history.

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