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From Moscow to Beijing, a change in global finance looms, set to challenge the long-standing economic hegemony. This imminent shift could redefine global power structures, disrupt currency markets and international trade. Amidst this uncertainty, one thing is clear: the game of geopolitical chess is no longer played on a Western-centric board.
The corporations have had it their own way for most of this century but two recent events have startled them. One is the election of a US president who says he is an economic nationalist. The other was Brexit. The battle lines have been drawn between a unipolar, American dominated world and a multipolar world.
Robert Miller has built an empire that is about to be sucked into the mire by a bad investment. Now he wants to offload it quickly before the purchaser realises anything is amiss. His practical obligations to his family and employees usurp his human obligations to those who become pawns in his efforts to maintain order.
Investors are buyers of financial products and services and this affords them a unique opportunity to shape the nature of markets and financial institutions. They should not be shy to use their power to promote sustainability.
Luke Fraser reviews Frontier Justice: A History of the Gulf Country to 1900, by Tony Roberts.