Global Macro Research

The end of US exceptionalism?

In our latest podcast, hosts Paul Diggle and Luke Bartholomew discuss whether US exceptionalism is truly over.

Authors

Paul Diggle

Chief Economist

Luke Bartholomew

Deputy Chief Economist

Duration: 30 mins

Date: May 07, 2025

“Financial markets have started to question the notion of US economic and market exceptionalism."

The US has long been economically “exceptional,” with its high growth rate, dominant technology companies, and role as the provider of the global safe asset and reserve currency. However, President Trump’s tariffs, a possible growth slowdown, and deeper institutional dysfunction could all endanger these aspects.

In the latest episode of Macro Bytes, the economics and politics podcast from Aberdeen, hosts Paul Diggle and Luke Bartholomew discuss whether the US is becoming a structurally less attractive destination for capital and whether the global dollar standard is truly over.

Transcript

Global Macro Research4 min Read

BoJ remains on hold amid election, trade uncertainty

As the Bank of Japan maintains interest rates while lifting its outlook, a look at why investors may want to take note as policy and reality begin to converge.

Jul 31, 2025

Global Macro Research5 min Read

Japan: Continuity despite an election setback

Japan’s ruling coalition may have stumbled in the upper house elections, but with leadership intact and policy tools at the ready, a look at how the government is poised to navigate near-term uncertainty.

Jul 21, 2025

Global Macro Research19 min Read

How much infrastructure does the world need?

The latest episode of Macro Bytes explores the staggering $64 trillion global infrastructure challenge, from roads and energy grids to climate resilience and digital connectivity, urging listeners to consider not just how we build the future, but whether we can afford not to.

Jun 26, 2025

Global Macro Research7 min Read

Can Japan’s bond market be tamed?

As global bond markets reel from rising debt concerns, a look at how Japan’s surging yields have spotlighted vulnerabilities in its long-end debt.

Jun 19, 2025

Global Macro Research7 min Read

Emerging markets: Risks remain amid trade war de-escalation

In our latest Q3 outlook, a look at how emerging markets may find room to rebound despite policy uncertainty, fiscal fragility, and global growth headwinds still looming.

Jun 18, 2025

View all articles