10 global business issues at the intersection of globalization, disruption, and politics.
Geopolitical Business Intelligence
1. Report: Michigan recognized globally as the number one emerging startup ecosystem: DBusiness reports that the 2022 Global Startup Ecosystem Report (GSER) has recognized Detroit as the top emerging startup ecosystem. Detroit's top-ranking marks a 13-spot jump from the previous year, solidifying the city's growth in early-stage funding and investor activity
+ There are currently 165 venture-backed startup companies in Michigan – an increase of 17% over the last five years
+ Global Great Lakes = The future of the global economy is the Great Lakes
2. Canada banning single-use plastics to combat pollution and climate change: WP reports Prime Minister Justin Trudeau said the ban, which would include many plastic grocery bags, cutlery, and straws, could eliminate 1.3 million tons of waste over the next decade.
+ Canada will also prohibit the export of those plastics by the end of 2025 to address international plastic pollution
3. Canada plans billions in military spending to counter Russia threat in the Arctic: WSJ reports the move would deliver on a promise to the US to modernize Ottawa's capabilities to help defend North America.
+ NORAD overhaul will replace aging radar stations in the Far North
+ The nature of NORAD has changed in recent years as it has assumed additional responsibilities for monitoring sea lane approaches to North America and guarding against cyberattacks
4. US lawmakers push for more money to counter China in Indo-Pacific: FT reports Democratic and Republican lawmakers will next week introduce legislation to spur the White House to funnel more money to the Indo-Pacific region to help counter China.
+ The proportion of the foreign operations budget allocated to the East Asia bureau has hovered between 3 and 5 percent over the past decade, according to the Congressional Research Service. By comparison, budgets for Europe and Eurasia have risen 65 percent over that period
+ "Going back to the Obama administration, we've been trying to do this pivot to the Indo-Pacific. We're getting there, but we're getting there awfully slowly." -- Ami Bera, the Democratic chair of the House foreign affairs Asia subcommittee
5. Beijing bans Teslas from Communist Party elite's favorite seaside resort: The Times reports China has identified a new threat: no one will be driving around the coastal resort town of Beidaihe in a Tesla amid a growing paranoia that the "smart" electric cars' array of sensors can be used to spy on Xi and party officials while they enjoy their workers' holiday.
6. Last month, China imported more Russian crude oil than ever before: WP reports that over the first 100 days of the war, China has become the world's leading buyer of Russian fossil fuels.
+ A year-over-year rise of 55 percent in May, to 8.42 million metric tons, meant imports from Russia overtook those from Saudi Arabia to become China's largest single source of crude for the month, according to Chinese customs data
7. 2024 intrigue: DeSantis declines to ask Trump for reelection endorsement: Politico reports DeSantis' reluctance to seek the former president's public support comes as the Florida governor prepares for a likely 2024 White House bid.
+ A new University of New Hampshire poll finds Gov. Ron DeSantis (R) leading Donald Trump (R) in a Republican presidential primary, 39% to 37%
8. Colombia braces for historic change with Petro as president: When Gustavo Petro takes office on August 7, Petro will become the country's first left-wing president. He offers a radical departure from a century of right-wing and centrist rule. Petro's running-mate, Francia Márquez, an environmental activist, will be the country's first black vice-president.
9. Macron faces five years of gridlock after stunning parliamentary defeat: The French have chosen their National Assembly for the next five years. And the outcome? No party, but notably not Macron's, has come out with an absolute majority. Macron's centrist alliance, Ensemble!, won the largest number of seats in the parliamentary elections -- with 245 out of 577 seats -- it still falls short of the 289 needed for an absolute majority
+ The loss of the French president's majority is an early sign of higher stakes for European leaders as fighting in Ukraine becomes a war of attrition
+ 'We will have to learn a new way to govern and to legislate,' Macron says
10. The Ohio State University officially trademarks 'THE': WSJ reports the trademark, which applies to T-shirts and hats, is a victory for the school's branding that will produce eye rolls from Michigan fans and other rivals.
+ "A college sports powerhouse trademarks a three-letter word. Is it hubris or THE apocalypse?" -- Jason Gay
