As governments and businesses around the world look to recover from the Covid-19 pandemic, international trade is increasingly shaped by post-pandemic economic pressures, environmental concerns, domestic political priorities, and most importantly, the brutal reality of war in Europe.
For its annual Trade and Geopolitics update, BAB, in partnership with AIG, has brought together a leading panel of global trade experts to discuss some of the most pressing developments in geopolitics and global trade taking shape in the coming months. We will reflect on developments seen and predictions made in 2021. We will assess the impact of the war in Ukraine and the response from the West on the global trading landscape, and offer an outlook on what we may expect in 2022, particularly on developments in the transatlantic corridor. Specific discussion points will include:
Geopolitical conflict: Recent events in Ukraine are a sobering reminder of both the human and global economic costs posed by geopolitical conflict. What are the long-term impact of Western sanctions on Russia and will a united front presented by the US and its European allies in response to Russian aggression be similarly applied in the transatlantic approach to other autocratic regimes, as governments on both sides of the Atlantic look to establish a fair trading relationship with China.
Environment and Energy: As these geopolitical tensions dominate the news, questions around energy consumption (particularly in Europe) and environmental concerns are now linked to ongoing conflict in Ukraine. Will geopolitical tensions side line efforts to meet the environmental commitments made at Cop26? Conversely, will the war in Ukraine propel transition to renewable energy and make environmental questions a core element of trade discussions?
Post-pandemic recovery: As government leaders look to “build back better” after the pandemic they must also contend with ongoing economic pressures such as global supply chain disruptions, labour shortages, and rising inflation. How will these factors shape economic recovery and global trade going forward?
