From US-China trade tensions to Brexit woes in Europe, 2019 is likely to be a roller coaster for geopolitics. As much as a government can help businesses reach their full potential with various reforms, its relations with other countries can significantly hamper operations.
Taking the example of US-China trade war, US President Donald Trump in March 2018 had said that, "Trade wars are good, easy to win," but a year down the line, US businesses operating in China don't seem to share the view. According to a survey, 60% of companies surveyed believe tariffs have harmed their operations.
And it is not just the trade war, we've seen big corporate giants move operations out of the United Kingdom, fearing the impact of Brexit as uncertainty rose after failed Parliamentary votes. Similarly, US sanctions on Iran impacted the global supply and prices of crude oil.
With more than 9 months remaining in 2019 and budding topics like Venezuelan political crisis, European Parliamentary elections, Canada-China tensions, we expect it to be an interesting year for geopolitics.
In this Live Discourse, we are tracking all the interesting happenings in geopolitical relations and its impact on businesses worldwide.
Swiss ties with the European Union, its biggest trading partner, face a critical test this week as Brussels decides whether the two sides have made enough progress on a stalled draft treaty to head off punitive measures set to start at the end of June. After more than four years of negotiations produced a draft text in November, the Swiss government this month tentatively endorsed the accord but said it needed clarifications on three areas -- protecting Swiss wages, regulating state aid, and spelling out citizens' rights -- before it could sign off.
The Group of 20 major economies said they agreed to a deal to reduce plastic waste that is choking the seas at a meeting in Japan on Sunday. They added that the steps would be voluntary and progress would be reported once a year.
Plastic pollution has become a global concern, particularly after bans imposed by China and other countries on the import of plastic waste from overseas.
Energy ministers from the Group of 20 major economies have shared concerns over attacks on tankers in the Gulf and will collaborate to maintain stability in the oil market, Japan's Industry Minister Hiroshige Seko has said Saturday.
Two tankers, one operated by a Japanese shipping company, were attacked on Thursday. The United States blamed Iran for the attacks, raising concerns about a confrontation and driving up oil prices.
Energy ministers from the Group of 20 major economies have shared concerns over attacks on tankers in the Gulf and will collaborate to maintain stability in the oil market, Japan's Industry Minister Hiroshige Seko said on Saturday. Two tankers, one operated by a Japanese shipping company, were attacked on Thursday. The United States blamed Iran for the attacks, raising concerns about a confrontation and driving up oil prices.
US President Donald Trump defended his administration's deal with Mexico against criticism that there were no major new commitments to stem a flow of Central American migrants crossing into the United States and said on Sunday more details would soon be released. Key aspects of the agreement are still unclear, including whether Mexico has pledged to buy more US agricultural products and if the deal materially expanded a previous commitment by Mexico to more vigorously police its southern border with Guatemala.
Iran said on Sunday Europe was in no position to criticize Tehran for its military capabilities and it called on European leaders to normalize trade ties with the Islamic Republic despite US sanctions, or face consequences. President Donald Trump last year withdrew the United States from world powers' 2015 nuclear deal with Iran and reimposed sweeping sanctions. Trump condemned the accord, signed by his predecessor Barack Obama, as flawed for not being permanent and for not covering Iran's ballistic missile program or its role in conflicts around the Middle East.
Chinese state media has revealed that the government is planning to create a system to protect China's technology as the US restricts the access of Chinese companies to American technology in a spiralling trade dispute. The People's Daily newspaper reported on Sunday that the system will build a strong firewall to strengthen the nation's ability to innovate and to accelerate the development of key technologies. No details have been released about what China is calling a national technological security management list.
The official Xinhua News Agency says the aim is to forestall and defuse national security risks more effectively. It says detailed measures would be unveiled in the near future. The initiative follows US moves to restrict sales to Huawei Technologies and other Chinese tech firms on national security grounds.
US President Donald Trump has made immigration a central theme of his administration but has grown increasingly frustrated with the ballooning numbers of mostly Central American families crossing the US-Mexico border and turning themselves in to US authorities. A threat of across-the-board tariffs on Mexican goods starting on Monday unless Mexico does more to stop migrants from reaching the United States has led to high-stakes negotiations between the two governments.
US President Donald Trump said on Thursday he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after a meeting of leaders of the world's largest economies late this month. Relations between the United States and China have deteriorated since Trump in early May accused Beijing of reneging on commitments to change its ways of doing business with the rest of the world.
The world risks a descent into lawlessness and a new Cold War if multilateralism fails, U.N. Secretary-General Antonio Guterres said, calling on the European Union to take a lead role in fighting to preserve a rules-based global order. Speaking in the western German city of Aachen, where he was being awarded the annual Charlemagne Prize for promoting European unity, Guterres described the 28-nation bloc as a pillar of multilateralism that was "too big to fail".
Mexico wants to sharpen existing measures in its bid to narrow a flood of Central American migrants to the US border, a top Mexican official said ahead of planned meetings in Washington over tariffs threatened by President Donald Trump.
Trump had said that he would introduce the tariffs, starting at 5% on June 10 and quickly ratcheting higher if Mexico did not substantially halt illegal immigration, largely from Central America, across the US-Mexican border.