In the latest news coming from the USA, on December 20, 2021, the State Department has continued to warn Americans against travel to the Ukraine, amid growing tensions with the Russians, and a growing chance for military actions there.
On December 9, 2021 Reuters has published a story that China has warned multinational corporations to sever all ties with Lithuania or face the risk of being shut out of the Chinese market. This harsh move follows Lithuania’s support for Taiwan’s independence, which China sees as a contest to her claim that Taiwan is part of the Chinese nation and under its sovereignty.
In September 2021, Michael Spavor- a Canadian businessman, and Michael Kovrig- a Canadian diplomat, have been released from Chinese detention after more than 1000 days. Their release followed the release of Huawei’s CFO Meng Wanzhou, who was detained in Canada following a US warrant for her arrest. The charges against each of these individuals are less relevant as these individuals were caught in the fight between the USA and China over trade agreements, and global influence.
Those latest examples illustrate the influence and consequences of global tensions on individuals and corporations around the world.
Tensions are rising all over the world, as we see global powers and local players involved in border disputes and trade wars, as they vie for global influence.
There are many conflicts of a localized character, albeit them being extremely violent – civil war in Ethiopia, the coup d’état in the Sudan, the situation in Afghanistan and Iraq, and many more, but we can identify several major geopolitical disputes that are on- going and have immense influence over corporate and personal security:
• USA – China trade war.
• China’s claim for sovereignty over Taiwan.
• Hong Kong’s political situation and the dissolvement of the “One country two systems” principle.
• Russian claim of disputed islands north of Japan.
• Russian actions in the Ukraine and threat of invasion.
• Iran’s development of nuclear capabilities, and growing spat with the West.
Although we tend to see these conflicts as “above” us – without any real-life consequences or influence on the individual, or even on the business sector, those geopolitical tensions can have a severe impact on us, and the companies we work with.
Before traveling abroad, for any reason, it is important to take into consideration the current situation at each destination, assess the risks involved, and create the needed contingency plans ahead of time. Current information and assessments are crucial in ensuring the safety of your travels.