In this interview, Nicolai Tangen speaks with Ruchir Sharma about the current state of capitalism, particularly in light of the increasing role of government and the rise of AI. Sharma expresses concerns about the socialisation of risk and the inequality it creates, noting that AI is currently driving a significant portion of economic growth in the US but also exhibiting signs of a bubble. They discuss the negative public perception of AI, contrasting it with past technological revolutions, and debate whether the AI bubble is ultimately beneficial. Sharma argues that while the US market has been underperforming, Europe and China are showing signs of reform and adaptation, especially in the context of AI development. He also touches on the complex relationship between the US and China, the impact of tariffs, and predicts a shift towards quality stocks and international markets outperforming the US in the coming years.
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