The new geopolitics of global business
China and America dominate like never before
TWENTY YEARS ago this week the share price of a startup run by an obsessive called Jeff Bezos had slumped by 71% over 12 months. Amazon’s near-death experience was part of the dotcom crash that exposed Silicon Valley’s hubris and, along with the $14bn fraud at Enron, shattered confidence in American business. China, meanwhile, was struggling to privatise its creaking state-owned firms, and there was little sign that it could create a culture of entrepreneurship. Instead the bright hope was in Europe, where a new single currency promised to catalyse a giant business-friendly integrated market.
This article appeared in the Leaders section of the print edition under the headline “Geopolitics and business”
Leaders June 5th 2021
- The new geopolitics of global business
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From the June 5th 2021 edition
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