We have always traded across distances. The hard questions are not whether, but on whose terms, and for whose benefit. Post 2 of a series on globalization, concentration, and strategic de-risking. See the first post on Substack here. Early on… Archaeologists found obsidian tools at Çatalhöyük, a Neolithic settlement in central…
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Interdependence is inescapable. Pretending otherwise may make things worse. On Friday, April 17, U.S. crude oil fell 11.4 percent in a single day. The trigger was one sentence from Iran’s foreign minister: the Strait of Hormuz, closed since February’s conflict, would briefly reopen to commercial vessels. The next day, Iran…
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