Industrial policy is rewriting competitive economics
How subsidies, export controls and state intervention can alter the relative attractiveness of markets, technologies and investment locations.
Read articleRelated macro
Geopolitics
Assess geopolitical shifts, exposure and scenarios to inform strategy, investment, operations and market decisions.
Discover the macroEditorial overview
Articles
Geopolitics moves from risk register to operating model
How trade restrictions, bloc realignment and political volatility are reshaping sourcing, technology access and global footprint decisions.
Read articleFocus
Strategic dependencies become visible when access can no longer be assumed
Critical suppliers, technologies, infrastructure and jurisdictions can expose companies to decisions made outside their control.
Geography still determines how geopolitical shocks reach the enterprise
Location shapes exposure to conflict, infrastructure, trade routes, political blocs and regional economic contagion.
Strategic challenges
Where is state intervention changing the economics of competition?
The challenge is distinguishing temporary policy support from structural shifts that can alter industry investment and location choices.
Where would an energy or materials shock hit the business first?
The challenge is tracing direct and indirect exposure across inputs, suppliers, logistics, pricing and customer demand.
POV
A dependency is strategic when another actor can remove your freedom to operate
The relevant issue is not supplier importance alone, but whether external control can materially constrain enterprise choices.
A country can remain investable while becoming operationally difficult
Enterprise decisions should reflect how instability affects the specific business model, not rely on sovereign risk labels alone.
Strategic impact
Policy analysis reveals where state action may change competitive advantage
Understanding incentives and restrictions helps management assess how investment, cost and market structure may evolve.
Escalation analysis clarifies where enterprise exposure may become material
Linking conflict pathways with assets, suppliers and markets helps management see where contingency choices may be needed.
What we observe
Resource risk is often measured by spend rather than strategic dependence
Low-spend inputs can still create major disruption when substitution is difficult, inventories are thin or supply is concentrated.
Companies often react to regulation only after formal rules are published
Political signals, coalition shifts and institutional pressure can change likely policy outcomes well before legislation is complete.