Trade Tactics Understanding Economic Statecraft in Global Business

Supply Chain Deepdive

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In this thought-provoking episode of Supply Chain Deepdive, hosts Michael Jung and Jess Williams delve into the Boston Consulting Group's article, "Economic Statecraft Is Back. Here’s Why It Matters." This episode unpacks the resurgence of economic statecraft, where nations strategically use trade and economic policies to further their foreign policy objectives. The discussion explores the implications of this trend for global businesses, highlighting the increasing complexity and volatility due to new regulations and trade barriers. Michael and Jess dissect the primary drivers such as geopolitical tensions and a shift away from traditional free trade paradigms. They also discuss the four main tools of economic statecraft highlighted in the article, ranging from direct government intervention to sector-specific alliances. Concluding with actionable strategies, the episode provides listeners with insights on how businesses can adapt by enhancing their geopolitical strategies, diversifying operations, and reinforcing supply chain resilience.

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