Thread: 1/ Meta handed mega fine in Europe for its privacy practices. Latest signal of GDPR's bite as well as how its enforcement process was underestimated. nytimes.com/2023/01/04/tec… 2/Since Europe upgraded its privacy laws in 2018, there were a stream of media skeptics panning its prospects. politico.com/story/2019/04/…

🧵1/ "We are involved in business, we are not involved in politics," Total CEO. If your business leader is still saying this, you are in trouble. But what does political risk look like in an age of weaponized interdependence? Investors have a lot to lose. ft.com/content/1f2c36… 2/Thanks to @NateMJensen @sarahbauerle and many others, we know a lot about political risk where countries receive FDI and then decide to nationalize or take MNC investments. That may be starting in Russia, but not the primary story. economictimes.indiatimes.com/markets/stocks…

Thread:1/Will the Russia sanctions end the dollar system? Im less pessimistic than the WSJ editors...Why? wsj.com/articles/russi… 2/If economic coercion was going to undermine the position of the dollar as a reserve currency it is logical to think that these might. Western sanctions are in the process of crippling the Russian economy. thehill.com/policy/finance…

Thread: 1/The limits of self insurance strategies against sanctions in a world of interdependent fiat currencies. Or what you might call the Three Amigos Principle.
memes.yarn.co/yarn-clip/ba70… 2/Over the last few weeks, there was a standard story floating around that Russia had buffered itself against Western sanctions as it had built up huge foreign reserves. bbc.com/news/business-…

Thread: When Chokepoints end up choking yourself -- How US tech dispute with China is producing layoffs in the US. ft.com/content/a75de9… 2/The US car sector is facing a major shortage of semi-conductors forcing production delays and furloughs. apnews.com/article/corona…

Thread/ Biden supply chain plan offers powerful map on how to rebuild globalization. bloomberg.com/news/articles/… 2/Most important, it is focused on resilience and not simple notions of reshoring. "The goal here is not pure self-sufficiency, but broad-based resilience." joebiden.com/supplychains/

Thread: Why is the UK Huawei decision such a big deal? Think weaponized interdependence. cnet.com/news/uk-gives-… 2/The US administration has given a lot of reasons to be weary of Huawei -- economic competition, intelligence sharing, national security...newstatesman.com/spotlight-amer…

Thread: What does political risk look like in a world of weaponized interdependence? @henryfarrell and I have a new piece in @HarvardBiz. Take away -- business needs to hold on to their hats. hbr.org/2020/01/choke-… @henryfarrell @HarvardBiz 2/The standard story about political risk is focused on FDI recipient countries. Autocrats expropriate MNC investments. See @NateMJensen and @goodhouses amazing work on this. E.g. journals.uchicago.edu/doi/abs/10.101…

Thread: Read -- The EU and the US ended Google's tax evasion scheme. States create these kinds of loopholes and they can end them too. reuters.com/article/us-goo… 2/ As @VincentAB deftly shows, international agreements between the US and other advanced economies generated the opportunity structures for companies like Google and others to play the system. cambridge.org/core/journals/…

Thread: @henryfarrell and I have a new piece in @ForeignAffairs on the future of globalization. Under the banner of 'Chained Globalization', we try to think through a path forward in a world where economic and security issues are increasingly linked. foreignaffairs.com/articles/unite… @henryfarrell @ForeignAffairs 2/In the wake of the Cold War, pundits hailed Globalization ushering in a new era of peace. Economic exchange had neutered states and made conflict illogical. While many have debunked Friedman and his vision of the flat world, the myth lingered. nytimes.com/1996/12/08/opi…

Thread: US Declinists may be critical but Im sticking w/progressive foreign economic policy based on market power. Or my response to @dandrezner's response to my response to his great original piece. beta.washingtonpost.com/outlook/2019/0… @dandrezner 2/Drezner is skeptical of @ewarren foreign economic policy for three key reasons and let me break them down.

Thread: Privacy is only dead if we let it be dead. ft.com/content/c4288d… via @financialtimes 2/@henrymance piece in FT is a powerful reminder of where surveillance capitalism has brought us. Your kids fitbit is a home detention/monitoring device run by a Chinese firm...

1/Thread. The US is about to have the first real debate about privacy in decades. Thanks Europe. ft.com/content/2d15b8… via @financialtimes 2/In the last year, Europe has started pressuring US surveillance capitalism from multiple fronts. Privacy and anti-trust regulators are gumming up business as usual at Facebook and Google. wired.com/story/germany-… via @WIRED

1. Thread. The US and Europe are opening up a major battle w/China over the future of the global communications. If not done right, it could splinter the internet. nyti.ms/2S6LObM 2. The fight is a product of growing general security concerns w/Chinese government coupled w/fears of losing control of a key piece of telecommunications infrastructure, in particular 5G.

Thread: 1/Policy makers push on to stoke globalization backlash in new NAFTA. 2/A few unnoticed sentences in agreement gut Canadian privacy protections. wapo.st/2ybaiV6?tid=ss…

Thread: Globalization is being used to make an end run around civil liberties. apps.bostonglobe.com/news/nation/gr… via @BostonGlobe 2/The facts around 'Quiet Skies' are still emerging but a key point is that international travel histories are being used to track US passengers domestically.

Thread: Just back form 3 weeks in Europe. Takeaway -- The transatlantic partnership is in deep trouble. 2/Much of the attention has been on high-level interactions i.e. the G7 picture. But this ignores the corrosive force of the US administration on the day-to-day operational level.