Geoeconomics

The world has changed fundamentally over the last few years.

Geopolitics, geoeconomics wasn't in the vernacular just a few years ago.

Now people have a good understanding of what it is.

They've experienced it firsthand.

[laughs] You have said it politically correct.

Uh, at the end of the day, Stephen, I think, like I always quote, uh, uh, Ed Kitsweta, the former SARS commissioner, "Geoeconomics will always trump geopolitics." And, and that's the reality of what's happening here.

There's a, there's a growing need of infrastructure for, for, uh, for, for, from an electrical perspective in terms of clean energy and, uh, technology from an AI perspective.

All of those need, uh, minerals, and ul-ultimately, uh, demand, uh, will always determine where the supply will come from, and that's what's happening here.

The geopol- geoeconomics is something that is gonna, I predict, will be a much bigger feature of all the politics on the right in the next three years.

All, all those parties I mentioned, Restore, uh, Tories, and um, uh, Reform, will all have a, a, a, a learning to do on geoeconomics.

Geoeconomics has to involve economic nationalism and protection.

Just has to.

Yeah.

It's geopolitics.

Geoeconomics, you cannot just jump over that.

And now, after so much effort has been spent for Russia to become independent and work with Eurasia on a new basis, like SHOS that I told you about last week, Shanghai Cooperation Organization, for us to say now, no, let's start doing something again with the Americans is just laughable.

And that will not happen.

Hello and welcome back to the ninth episode this year of Japan Memo, the IISS Japan Chair Programme podcast.

I'm Robert Ward, Japan Chair and Director of Geoeconomics and Strategy here at the IISS.

In this series, we bring together experts, strategists and practitioners to analyse why Japan matters in today's regional and global geopolitical landscape.

Today, we're extremely pleased to welcome two more wonderful guests, Professor Satake Tomohiko and Jenna Lehman, to discuss the recent evolution of Japan-Australia relations.

If you're interested in public policy, AI, geopolitics, or defense, do check out the courses offered by the Takshila Institution.

And for more conversations like this one, stay tuned for the next episode of Turbulence: Global Finance and Geoeconomics in an Age of Disruption, a special series of the All Things Policy podcast supported by Zerodha.

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So they're not in an easy position, but I do think it's going to require significant pressure and diplomacy to get an outcome that we can live with.

Edward Fishman is a senior fellow and director at the Morris R. Greenberg Center for Geoeconomics at the Council on Foreign Relations.

Thank you, Edward.

Yeah, my pleasure.