Navigating the Challenging Waters of Global Affairs

Global governmental entities and multinational corporations attempt to establish their engagements based on the current challenges of government affairs.

Fremont, CA: There are many geopolitical risks, including the Russia-Ukraine conflict, strenuous relationships between countries worldwide, internet restrictions, and competing European interests. In addition to the conflicts, disinformation makes it even harder for businesses and organizations to deal with risk.

The following discusses organizations' current geopolitical challenges and how entities build organizational resilience.

Treading carefully in China: Discord between countries across the globe, such as China and the United States, was another risk prevalent in 2022. Approximately 25 percent of the world's semiconductors are consumed in electronics in China. Several challenges need to be addressed. Engaging with China requires the most appropriate strategy. Governments are also concerned regarding their global position with China and how the US government can take more significant action. They need to remain strong and competitive in China while also being protected.

Handling global regulation and the Internet: There was also a significant risk of Internet restrictions in 2022. It has been shown that large multinational corporations aim to make information accessible and free. Regulating the internet and platforms, including online content, has been a growing phenomenon and a challenge in some countries. In countries where they are present, global entities follow the local laws until they cannot do so.

Staying informed: An evergreen risk is conflicting information. Industrialists try to get first-hand information and reporting. Getting completely different perspectives on what is happening anywhere is challenging since most news outlets are biased and provide varying information. Businesses need to look at global market shifts holistically to stay informed, such as by stepping back and seeing what impacts or will impact their industries.

Staying ahead of current events worldwide: Information about an increased number of markets was factored into risk management in 2022. There is an evolution in the market. Before the internet, people only paid attention to the US and a few major markets. The events in Europe often presage what may take place in the US or what's happening in China has to interact with what's happening in the EU or the US.

Encouraging input from employees: The key to managing overseas risks is to ask employees for their input. It has been really helpful and important for the agents in Central and Eastern Europe to inform about the disinformation risks in the region. By having employees provide input, companies can better understand the cultural, economic, and political climates in which they operate. This can help them identify potential risks, develop strategies to address them and ensure their operations comply with local laws and regulations. Additionally, having employees provide input can help companies understand the local media landscape and any potential associated risks. This includes understanding the types of media sources available to target audiences, the media content most likely to gain traction, and the messages likely to resonate with the local population. This information can help companies develop effective strategies to counter disinformation and ensure their activities are not  misunderstood.

According to studies, China-US relations will be the top issue in 2023. Right now, these two countries are the most consequential in the world, and they work well together and lead well. Further deterioration of that relationship poses a serious risk to the business community and global stability. Vaccine disinformation is considered a top risk. If governmental entities lack the integrity of information and clarity about science and truth, addressing future challenges will be more challenging.