Issue No. 3
Seizing Russian assets could impact Western companies, #ExxonKnew, Huawei's Global South takeover, and port investments telling the future of global trade.
Welcome to Global Affairs, Inc., a weekly newsletter at the intersection of business and global affairs. Here are the most interesting, informative, and excellent stories and insights I discovered last week.
Freeze—Don’t Seize—Russian Assets
Rebuilding Ukraine is paramount. But financing this by forcibly taking hold of Russian assets that aren't linked to criminal activity exposes Western companies abroad to repercussions and is a function of authoritarian behaviour.
FOREIGN POLICY | Russia
Exxon's climate research accurately projected global warming, study finds
A new analysis of internal documents finds that Exxon knew its business risked making global warming worse. Not only did the oil giant know, but it knew with a level of accuracy that matched independent government and academic predictions. Not only did Exxon know and with accuracy, but the company allegedly misled the public and investors by claiming it didn’t know.
AXIOS | Big Oil | Climate Change
How Huawei is winning over the global south
From Algeria to Zimbabwe, Huawei is providing mobile networks, data centres and tablet computers to emerging markets. The forward march of this Chinese company's progress in the Global South shows no signs of relenting. Within this, surveillance issues, national security concerns, and geopolitical rivalry between China and the West are more entangled than the cables hidden in your junk drawer.
TECH MONITOR | Technology
Investments in ports foretell the future of global commerce
Follow the money: In global trade, it leads to ports in Asia where there is a drive to implement logistical solutions and use technology and civil engineering to increase port efficiency and size. Goods are flowing outwards as exports, inwards into growing consumer markets, and across borders within the region. South-East Asian nations in particular are a burgeoning hub of global commerce, with the rise of “friend-shoring”—manufacturers moving out of China—as a backdrop to this shift.
THE ECONOMIST | Global Trade