How merchant states are reshaping global business connectivity

NOT long ago, in a conversation with a senior executive overseeing Asia operations, based in Abu Dhabi, I asked what concerned him most about the next five years. His answer came without hesitation: predictability, where the business could still operate with confidence as the global environment becomes more uncertain.

That concern is now widely shared.

For much of the past two decades, global business strategy was built around efficiency. Supply chains were concentrated to reduce cost, production was optimised across fewer hubs, and scale was the main source of advantage. That model is now under pressure.