OPINION: Tensions with China and restrictive trade policies such as carbon tax and border tariffs mean that geopolitics is now front and centre for many business leaders.
Byron Pirola, who has been consulting to CEOs for decades, says geopolitics has pushed its way to the forefront of strategic decision-making in Australiais no longer a “backwater issue”, and in 2023 it will shape how businesses pursue capital investment opportunities.
He says CEOs are delaying or completely stopping planned investments. Also, they are shifting their geopolitical alignment, either by reconfiguring supply chains, relocating operating assets, or exiting businesses in certain markets.“Boards would ask: ‘are we investing in China or India? Can we get our money out? What’s the risk?’ It was always on the table.
The central importance of geopolitical risks is evident from the fact 87 per cent of Australian CEOs in the survey said they were focusing on “markets where our home country has strong geopolitical and economic relationships”.
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