Inside the secretive business of geopolitical advice
These are anxious times for the bosses of Western multinational companies. After decades of being wooed by governments the world over, many now live with an ever-present fear of being caught in the crossfire of fraying geopolitical relations. An increasingly assertive China has now taken to slapping exit bans on the executives of foreign firms. The latest example came on September 29th, when a Hong Kong-based restructuring consultant at Kroll, an American advisory firm, was reported to have been barred from leaving the mainland.
Doing business in China is far from the only source of worry. American chief executives are contending with the regulatory zeal of Brussels just as their European counterparts are dealing with a more interventionist America. Both groups are trying to tap the cash gushers of the Gulf without appearing to cosy up to its authoritarian rulers. A diplomatic spat between Canada and India over the alleged assassination of a Sikh activist on Canadian soil will have sent shivers down the spines of many Western business grandees. Trouble, it seems, is everywhere.
Luckily, an industry of consiglieri is at hand to help multinational firms traverse these treacherous waters. Although geopolitical advisers have existed for decades, demand for their services is now soaring, thanks to the growing complexity of doing business abroad. Bankers, lawyers and management consultants are pouring into the field. What was once a niche and secretive business is entering the mainstream of professional services.
2023-10-05 07:47:55
Source from www.economist.com
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