SEOUL – The United States has long been the world’s policeman but today, in a world of mind-bogglingly complex supply chains, it is increasingly becoming the world’s regulator, too.
As the Biden administration continues the China decoupling policies initiated by the Trump government, as war rages in Ukraine and as Iraq and North Korea remain firmly in Washington’s gunsights, pressure is building on third-party governments and companies to follow America’s lead.
Following that lead means managing a long, long list of risks. Washington implements a wide range of sanctions, export controls and supply chain security policies overseen by an expanding range of US government agencies, as it applies the thumbscrews on its adversaries and competitors.
Harassed global CEOs, whose mission is to sell products and services in the global marketplace, may be forgiven for hurling ashtrays.