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The securitisation of the economy and geoeconomic risks – new frameworks for businesses

Defensor Legis 4,5/2023 s. 708–723
29.1.2024
Asiantuntija-artikkeli

Russia’s war of aggression against Ukraine has turned businesses and the economy into not only strategic targets but also instruments of war. The change in the geopolitical landscape has raised the profile of economic factors in international politics. More and more of the goods and services that are critical to the functioning of society are now produced by the private sector and are highly dependent on international supply chains. Businesses find themselves increasingly affected by government interests that can limit their international operations in particular; on the other hand, businesses now also play a role in security, and that role has to be factored into national interests. Preparing for geopolitical changes has become an integral part of businesses’ risk management. These developments have also reshaped the economic and political assumptions behind the structure of businesses: the transition towards strategic capitalism is changing what is acceptable in business and what society expects of businesses.

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