Business Diplomacy Today

In this episode of Business Diplomacy Today, host Dr Matthias Catón is joined by Dr Tevin Tafese, development economist and research fellow at the German Institute for Global and Area Studies (GIGA), to assess the dynamic economic landscape of Africa and its meaning for international business. Together they unpack the continent’s diversity, growth prospects, and innovation potential, as well as the misconceptions and opportunities that shape external engagement.

In this episode of "Business Diplomacy Today," host Dr Matthias Catón welcomes Dr Kira Vinke, Deputy Research Director at the German Council on Foreign Relations (DGAP) and Head of the Centre for Climate and Foreign Policy, to examine the profound interplay between climate change and maritime security within a shifting geopolitical landscape. The conversation uncovers how environmental pressures are increasingly influencing global trade, security policies, and industrial competitiveness, drawing on Dr Vinke’s extensive fieldwork and policy expertise.

### Introduction This episode, presented by the German Maritime Centre, explores the essential role of subsea cables as critical infrastructure underpinning global communications and business operations. Host Matthias Catón is joined by guests Camino Cavanagh and Jonas Franken, both experts in cyber security, international security, and maritime systems. ### What Are Subsea Cables? Subsea cables are fiber-optic systems laid across the seabed, connecting continents and islands for data transmission. They include not only the cables themselves, but also landing stations, maintenance ships, repair logistics, and complex terrestrial links. The technology has advanced from telegraph cables to modern fiber optics, forming a backbone for the internet and communications. ### Scale and Complexity There are currently around 530 active international cable systems, with 70 more in the planning stages. Some cables connect just two points, while others are complex networks with up to 30 landing stations. Globally, over 1,600 cable landing stations exist, varying in size and complexity. ### Visibility and Public Awareness While most people rarely notice subsea cables, outages in places like Tonga, Southeast Asia, Norway, Ireland, and the Shetland Islands have raised awareness. Many still mistakenly believe internet connectivity is reliant on satellites, while in reality, subsea cables handle the overwhelming majority of data traffic. ### Redundancy and Resilience European countries enjoy high redundancy, ensuring minimal disruption from cable faults. In contrast, remote nations often rely on a single cable, making them more vulnerable to outages. Subsea cables are engineered for resilience, with backup options usually available, though incidents can still affect connectivity. ### Satellite vs. Subsea Cables Satellites serve a supplementary role, but subsea cables provide vastly superior bandwidth and lower latency. Even with modern satellite networks like Starlink, they cannot match the data volume or speed required for global internet infrastructure. ### Ownership and Financing Models Ownership is diverse: - Major content providers such as Google, Meta, Amazon, and Microsoft, either individually or through consortia. - Traditional telecom companies in consortia. - Direct state involvement, including military-operated cables. - Development bank funding—sometimes as part of diplomatic efforts. The European Union and the US are introducing more regulations, affecting industry operations. ### Business Implications Businesses—especially large, data-reliant firms—should consider cable resilience as part of their risk management. Industry groups such as the International Cable Protection Committee and the European Subsea Cable Association foster collaboration and dialogue. Medium and smaller businesses may face challenges in influencing infrastructure policy, but are equally reliant on connectivity. ### Regulatory Trends Regulation is increasing, especially across the EU (NIS2 Directive, Critical Entities Resilience Act) and the US (Federal Communications Commission rules). The challenge for policymakers and industry is to balance demanding security requirements with the need for operational flexibility and rapid response. ### Geopolitical Competition and Strategic Concerns Subsea cable networks are increasingly central in international competition, including concerns about reliance on equipment from certain foreign suppliers, particularly China. Security requirements may slow cable operations just when agility is needed most. ### Recommended Further Reading - "Achieving Depth: Subsea Telecommunications Cables as Critical Infrastructure" by Camino Cavanagh and Jonas Franken - _The Undersea Network_ by Nicole Starozelski (ethnographic study) - _Undersea Fiber Communication Systems_ by José Chesnoy (technical reference) - _How to Survive a Crisis: Lessons in Resilience and Avoiding Disaster_ by Sir David Omand (broader crisis management

In this episode of "Business Diplomacy Today, host Matthias Catón is joined by Daniel Jones, Professor of Management at the University of Nevada, Reno, to explore the complexities of negotiation in international and cross-cultural business contexts. The discussion begins by broadening the definition of negotiation, highlighting that it permeates every aspect of daily life and is not limited to transactional haggling. Jones explains that effective negotiation should be viewed as an information-gathering process aimed at maintaining long-term relationships rather than as an adversarial battle. The episode delves into the psychological underpinnings of negotiation, particularly the influence of the "dark triad"—Machiavellianism, psychopathy, and narcissism—on negotiation tactics and ethics. Jones notes that while most people act ethically in negotiations, a minority exploit deception and lack empathy, demanding greater vigilance and preparation when dealing with such individuals. The conversation moves to the international stage, using examples like Donald Trump's negotiation style to illustrate the risks and short-term nature of aggressive, ego-driven tactics. Jones observes that while such styles might bring immediate gains, they often breed resistance and retaliatory behavior, ultimately undermining relationships and sowing nationalistic fervor. Cross-cultural negotiation presents additional challenges, from differing attitudes towards information sharing and trust-building to the impact of individualistic versus collectivistic mindsets. For instance, what may appear deceptive in one culture could be a normative communication style in another. Building rapport and understanding cultural context—such as the importance of informal relationship-building before business discussions in many countries—are vital to successful outcomes. Jones offers practical advice, recommending the use of open-ended questions to encourage dialogue and gather information, and emphasizes the importance of investigating a counterpart's reputation, especially when "dark triad" personalities are suspected. Recognizing non-answers and red herrings is also crucial for uncovering potential deception. He also underscores the necessity for self-awareness regarding one’s own cultural and demographic background, as these factors influence both perception and effectiveness in negotiations. Trust, relationship-building, and cultural sensitivity are highlighted as increasingly critical skills. In his predictions for the future, Jones expects a gradual homogenization of business negotiation practices towards individualism, a shift in public sentiment away from ego-driven tactics, and a renewed emphasis on personal relationships and trust because of technological and social changes. Ultimately, this episode underscores why understanding negotiation—in all its psychological and cultural complexity—is indispensable in today's interconnected and rapidly evolving global business environment.

In this episode of Business Diplomacy Today, host Matthias Catón discusses the topic of online voting with Simone Ehrenberg-Silies, a senior consultant at the Institute for Technology and Innovation at VDI VDEIT. The conversation begins with a definition of online voting, differentiating it from traditional and electronic voting. The discussion delves into the reluctance of many countries to adopt online voting because of the risks of cyberattacks and manipulation, highlighting the vulnerability and potential loss of trust in the election process. Simone notes that online voting offers some advantages, such as better accessibility, error-free vote counting, and convenience, particularly during situations like the pandemic. The conversation shifts to other applications beyond political elections, such as university elections and party leader selections. Despite the benefits, Simone repeatedly emphasizes the substantial risks, especially without the possibility of a verifiable recount in case of disputes. The discussion covers the technical intricacies of online voting systems, focusing on security, authentication, and the potential future risks posed by quantum computing.

In this episode of Business Diplomacy Today, guest Martin Drux from Marsh McLennan delves into lessons learned from the COVID-19 pandemic and the importance of businesses preparing for future events like the permafrost virus. Host Matthias Catón discusses technology’s role in risk assessment, citing Google’s use of search data to track flu outbreaks. Drux highlights how AI and technology can enhance risk prediction and data quality, especially in the insurance sector. The episode addresses geopolitical risks such as power shifts, tensions in the Middle East, and China’s assertiveness, with Drux advocating for peaceful solutions and innovation. Companies should take Drux’s advice and manage talent shortages, especially in Europe, while also incorporating ESG factors into their strategies. The Global Risk Report, a collaboration between the World Economic Forum, Marsh McLennan, and Zurich, serves as a valuable resource that highlights risks like misinformation, climate change, and social unrest. Drux points out the evolution of risk management, noting a shift to new risks like cyber threats and environmental challenges. The conversation covers whether non-insurance companies are effective at assessing risks and the importance of diversifying production and markets. Drux emphasises the importance of learning from past mistakes with countries like Russia and China while balancing ethical and political views. He predicts a tumultuous decade filled with both innovations and challenges, stressing human rights and the responsible use of AI. The discussion ends on a hopeful note, with Drux underlining humanity’s broader aim of survival. This episode is essential for understanding the ever-evolving landscape of global risks and the need for businesses to adapt proactively. The topic is vital today as companies navigate an increasingly complex and dynamic world.

In this episode, host Matthias Catón join Christina Rabe, the Market Unit Lead for Accenture in Austria, Switzerland, and Germany. They delve into the Pulse of Change Index developed by Accenture. Raab discusses the interconnectedness of technology, talent shortages, and demographic shifts, emphasizing the movement of talent from countries like India and the critical role of global talent pools. The discussion explores how artificial intelligence (AI) is poised to reshape various industries, starting with banking, capital markets, insurance, and software. Raab underscores the importance of companies being proactive rather than reactive in adapting to these changes, through investments in technology and talent. The conversation also touches on the essential human aspect, advocating for diversity and maintaining human values at the core of future technological transformations.

In Episode 29 Matthias Catón is joined by Sugata Bose, Gardiner Professor of Oceanic History and Affairs at Harvard University. Following Sugata's recent publication "Asia After Europe: Imagining a Continent in the Long Twentieth Century", Matthias and him discuss the how Asia's history has been defined by Europe and what the current century brings. Matthias and Sugata's discussion delve into history, identity and European focus in Asia; looking at ideas of Asian countries psot-independence, prospects of a multipolar region and Asia's need to detach themselves from a Eurocentric vision of universalism. With Sugata's expertise in international history, the episode also looks at economic and business implications for the path of Asia, both as a continent and individual countries. Sugata provides his opinions on aggression and conflict in the region, utilising relations between India and China as a prime example. This episode is valuable for those interested in an analytical view to Asian history - how did colonialism shape Asia? Why did post-colonial states in Asia adopt European values? What do current geopolitical events in the region mean for its future?

In Episode 28 of Business Diplomacy Today, host Matthias Catón is joined by Mary Ellen Iskenderian, President and CEO of Women's World Banking. Matthias and Mary Ellen examine the persistent gender gap in financial inclusion and its linkages to digital inclusion. Matthias and Mary Ellen begin their conversation by analysing why finance is not optimised for women, looking at the lack of access to financial services for women and the intricate connection of financial equality and digital inclusion. Using India as a case study, Matthias and Mary Ellen illustrate the importance of implementing digital public infrastructure that is inclusive and motivates individuals to stay in the system. Looking at the topic from a business perspective, Matthias questions why banks and companies are not working harder to push for financial inclusion. Mary Ellen shares that there is a lack of utilising data to see what products and services are offered, demanded and can drive their businesses. Matthias and Mary Ellen further discuss why innovation in this sector seems to come from emerging economies and the polarising debate on the efficacy of cryptocurrencies in achieving financial inclusion.

In Episode 27 of Business Diplomacy Today, Matthias Catón is joined by Till Klein, Head of Trustworthy AI at appliedAI. Matthias and Till explore the forthcoming EU AI Act, including an investigation of its core principles and implications for businesses. Their conversation begins by looking at key points of the EU AI Act, including the EU's risk-based approach, where it tries to classify certain AI practices into four categories. Matthias and Till discuss if such an act will hinder bringing innovation to the European Union due to its requirements around data governance, risk management, and accuracy. As emerging technologies are constantly evolving, Matthias and Till further analyse how quickly the AI Act may become redunant and how to navigate this complexity, both from a governance and business perspective. Although AI regulation is not new, both in the EU and other regions, Matthias and Till provide an insightful episode for those interested in understanding how (and why) regulation is conceived and its evolving implications on businesses and societies. This episode was recorded on 29 January; it's important to note, that since then, the Act has been modified and further developed.

In Episode 26 Matthias Catón is joined by Lewis Sage-Passant, Global Head of Intelligence at Novo Nordisk and founder of EncyclopediaGeopolitica.com. Matthias and Lewis delve into the intricacies of how multinational corporations navigate geopolitics and international relations. Matthias and Lewis investigate how the changing responsibility of security intelligence teams and how, in a corporate environment, this is transforming into a strategic direction - how does geopolitics work? What implications does this have on a business? Empirically, Lewis explains how geopolitic events affect different sectors of a business, such as supply-chains, access and affordability to raw materials; and as globalisation evolves, more types of industries have had to internationalise, and therefore, pay more attention to geopolitical events. Interestingly, Lewis and Matthias also look into the idea of "opportunity intelligence" and how geopolitics should not only be viewed from a "risk" perspective, but also a business development angle. This episode is a must listen for business leaders and policy makers to understand how to incorporate geopolitical intelligence in their corporate strategy and utilise this as both a risk, and opportunity.

In Episode 25 host Matthias Catón is joined by Simone Menne, President of the American Chamber of Commerce in Germany. In their discussion, Matthias and Simone address the intricacies of transatlantic relations between the US and Germany and how this relationship is shaped by geopolitics. Following themes of economics, politics and international relations, Matthias and Simone discuss the current stand of the transatlantic relationship and the significance of US-German partnerships; notably in the context of the automotive and pharmaceutical industries. As the US prepares for the 2024 election, the episode investigates the potential outcome and the rise of right-wing parties within Europe. Simone and Matthias further discuss the necessity to maintain political stability and the repercussions that may occur following electoral results. Further comparisons are made with the US's dynamic business sector and the ageing population in Germany and, on a wider scale, Europe. Drawing on her experience of leading digital transformation, Simone explains the optimism behind leveraging new technologies and furthering sustainability efforts. This episode is a must-listen for business leaders and policymakers to gain insights to the US-German relationship and understand predicted outcomes in the short- and long-term.

In Episode 24 of Business Diplomacy Today, host Matthias Catón is joined by Karel Lannoo, CEO of the Centre for European Policy Studies (CEPS). In their discussion, Matthias and Karel dive into the complexities of implementing a digital currency and its impact on the financial landscape; in this episode, specifically on the case of the Eurozone and the Digital Euro. Covering an array of compelling topics, Matthias and Karel discuss the motivations of central banks to embrace digital currencies and the evolving landscape of digital payments. Karel shares thought-provoking arguments on the privacy concerns of implementing a digital Euro; as well as potential disruptions in the financial sector and the ramifications the digital Euro could have on monetary policy. One motivation of implementing a digital Euro is led by the desire to make the Euro a more significant global currency, Matthias and Karel, thus, look at the geopolitical landscape and financial significance of the Dollar and monetary policies in China and India. At the intersection of finance, technology and geopolitics, this episode is a must-listen for policymakers and business leaders to further understand and analyse the viability of implementing a digital Euro on national, regional and international levels.

In Episode 23 of Business Diplomacy Today, host Matthias Catón is joined by Tom Standage, Deputy Editor of The Economist and editor of its future-gazing annual, The World Ahead. Timely, with the start of the new year, Matthias and Tom delve into global trends and predictions for 2024; as well as their implications for businesses and global affairs. To understand the metholodogy, Matthias and Tom begin by discussing how forecasting is developed and the necessity to analyse previous events and liaise with cross-departmental colleagues to look forward. Their conversation analyses both predictable events and forecasted events, ranging from GDP growth in a country to instability in domestic and international contexts. Interestingly, Matthias and Tom briefly look at how cognitive bias plays a role in the prediciability of events and how our common assumptions can lead us to be unprepared for events; contextualised in the episode, is the Russia-Ukraine war. The discussion further investigates crucial geopolitic affairs such as China-Taiwan, US Elections and the role of artifical intelligence. Tom further highlights the importance of 2024 as "election year" with over half of our global population living in a country that will have an election this year. With a wealth of knowledge and relevant contextualisation, this episode is a must listen for policymakers, business leaders and those interested in understanding how to navigate 2024 and the intricate network of global affairs.

In Episode 22 of Business Diplomacy Today, host Matthias Catón is joined by Prof. Harold James, Professor of History and International Affairs at Princeton University. Drawing inspiration from Harold’s recent publication Seven Crashes: The Economic Crises That Shaped Globalisation (2023), Matthias and Harold discuss seven major turning points in the history of globalisation. Their conversation explores the requirement for preparation and flexibility in responding to global crises, such as geopolitical tensions and the COVID-19 pandemic. Also discussed is the impact of political systems on crisis response and how this differs in autocratic and democratic systems. With globalisation being synonymous to interconnectedness, Harold and Matthias examine the influence of communication and technological advances during times of rapid change. Harold contextualises these theories through historical events and the importance of having a historical understanding to prepare for the interaction between a globalised world that experiences conflict and uncertainty. Discussing topics of historical events, innovation and global trade, this episode is a must listen for policymakers and business leaders to gain insights on how to be resilient and prepared for changes on a global level.

Episode 21 of Business Diplomacy Today covers the emerging significance of middle powers. Host Matthias Catón is joined by Michael Mazarr, Senior Political Scientist at the RAND Corporation. Matthias and Michael discuss how middle powers are rising and their impact on global trade and business environment. Beginning with definitions of middle powers, Michael explains the concept of different power scales, and the domestic and global roles great, middle, and small powers play. Understanding different factors as ingredients of influence, such as size, geography and economic power, Matthias and Michael discuss the shift into a multipolar reality where middle powers have a growing significance. Tied with these complexities, their conversation examines the implications of changes in the global power order on businesses and decision-making processes in contexts of investments and geopolitical shifts. Furthermore, the space that businesses provide for communication, such as cyber- and information security, is discussed. Matthias and Michael specify these theories in the cases of India’s growth, US-China relations, and developments within the Middle East; with Michael further advising business to continuously invest in developing their geostrategies and ability to operate internationally. Ultimately, this episode serves as a vital resource for understanding the changing dynamics of global business and diplomacy; as well as the imperative need for businesses to understand and adapt to global shifts to remain competitive and influential on an international scale.

In Episode 20 of Business Diplomacy Today, host Matthias Catón is joined by Ashoka Mody, Charles and Marie Robertson Visiting Professor in International Economic Policy at the Princeton School of Public and International Affairs, Princeton University and author of "India is Broken: A People Betrayed, Independence to Today". Matthias and Ashoka delve into how the world's largest democracy faces obstacles in achieving fair and equal development, with a specific focus on how its history has shaped its present. With a detailed exploration into India's history since 1947, Matthias and Ashoka look at theories of "path dependence" and how India's previous leaders and historical events have shaped its politics and development today. From unaddressed economic challenges, to a lack of public goods and the breakdown of accountability, Ashoka provides an intriguing argument to the hindrances of India's development. Matthias and Ashoka converse on three pressing themes: India's economy, its growing inequality, and democracy and accountability. Ashoka debates the need to provide quality goods for the general population; and further suggests a potential solution of decentralising power - identifying Kerala as a role model. Bringing the topic to a global and business context, Matthias questions if India's problems are not uncommon for emerging economies and the responsibility of businesses to address these challenges. As a growing destination for investment and India's role on the global stage, this episode is a must listen for those interested in market access and entry to India.

In Episode 19 of Business Diplomacy Today, host Matthias Catón is joined by Vera Axyonova, a Marie Skłodowska-Curie REWIRE Fellow at the University of Vienna and Principal Investigator of the project ‘Expert Knowledge in Times of Crisis – Uncovering Interaction Effects between Think Tanks, Media, and Politics’. Vera shares her expertise on the influence that experts and think-tanks can have on policy- and decision-making, specifically in hybrid and non-democractic regime. Beginning with definitions of think-tanks and their influence on policy, Vera and Matthias delve into how these organisations and experts operate in different political environments. Vera specifically contextualises these ideas in the case of Russia and the reporting of events such as the COVID-19 pandemic and climate change through her research on the topic; and demonstrates that, in some cases, think-tanks actively transmit certain policy ideas provided by the state. Matthias and Vera further discuss the various factors which can influence information published by think-tanks; such as local regulations in the case of transnational think-tanks, the influence of donors and funders and the establishment of international expert networks to transfer policy solutions and options. With the fast spread of news and information and the importance of distinguishing between 'misinformation' and 'disinformation', this episode is a must listen for those interested in analysing how we receive knowledge and the influence this knowledge holds. For business leaders and senior executives, Matthias and Vera recognise the role corporate think-tanks can inform market access and entry.

In this episode, Matthias Catón is joined by Prof. Dr. Jan Kratzer, Chaired Professor for Entrepreneurship and Innovation Management and Founder/Academic Director of Centre for Entrepreneurship (CfE) at Technische Universität Berlin. Jan shares his expertise on the unique challenges faced by entrepreneurs in low-income countries, and provides ecosystem comparisons to high-income countries. As their discussion explores the concept of entrepreneurship in fragile states, Matthias and Jan discuss theoretical definitions of fragile states and entrepreneurship. Jan explains how the latter has contrasting definitions globally; for example, micro-entrepreneurship is very common in African and Asian states, but the social-political-economic nexus in fragile states hinders the sustainability of an entrepreneurial business model. Despite the obstacles faced in fragile environments, such as low-tech industries, a lack of entrepreneurial support systems and legal regulations, Jan recognises the significance these young entrepreneurs have in growing economies through informal and smaller-scale entrepreneurship. Jan and Matthias further discuss the need for tailored educational programmes to train young entrepreneurs, the importance of reducing protectionist measures and how matured markets must give away their power to allow others to emerge and grow. As an increase in geopolitical risk calls for rethinking business strategies to maintain resilience, this episode is a must listen to gain a deeper insight into stimulating growth in fragile environments.

In episode 17 of Business Diplomacy Today, Matthias Catón is joined by Ludivine Wouters, Managing Partner of Latitude Five, an investment and advisory firm operating in emerging markets. Ludivine shares her expertise in the metals and mining industry, specifically concerning the EU Critical Raw Materials Act (CRM Act). Matthias and Ludivine explore the EU’s approach to critical materials and the attempt to stimulate private sector action through strategic partnerships and market-driven initiatives. Their conversation contextualizes these theories globally, calling at the US approach of incentivizing electric vehicle and battery production, the Chinese transactional approach, Saudi Arabia’s sovereign fund, and Japan’s value chain investments. Ludivine and Matthias further navigate the complexities of the EU’s CRM Act in relation to the need to increase investment in critical materials, the importance of responsible sourcing, and the recognition that “minerals at any cost” is no longer an acceptable thought. As we become more and more conscious of our supply chains and responsible sourcing, this episode is a must-listen to gain valuable insights into the critical raw materials landscape and its impact on businesses.

In this episode, host Matthias Catón and Wilfried Aulbur, Senior Partner of Roland Berger, explore the navigation and development of business strategies in a volatile and ever-changing world. Through topics of geopolitical relations, climate change, and technological innovation, Matthias and Wilfried discuss the importance of agility to transform business strategy and respond to uncertainties. Drawing on his in-country experience, Wilfried provides a detailed account of the potential and growth of India and how the responsiveness of the country can be a model to follow globally. As we reexamine the geopolitical order, Wilfried and Matthias discuss the trends in internal business relations and the importance of staying innovative to drive resilient growth.

This episode of Business Diplomacy Today explores the topic of water security. Host Matthias Catón is joined by Susanne Schmeier, Head of the Water Governance Department and Associate Professor of Water Law and Diplomacy at IHE Delft. They discuss the global water crisis and its implications for meeting the 2030 Agenda, pollution issues, overuse, and potential conflicts. Susanne identifies the necessity to reduce our water footprint and highlights the relationship between businesses, foreign investors, and states in achieving this and holding each other accountable for water consumption. As our most valuable resource and global significance, Matthias and Susanne contextualize these arguments from Latin America to East Asia, exploring examples of collaboration and conflict within different regions.

In this episode, Matthias Catón speaks with Famke Krumbmüller, Executive Director of the Geostrategic Business Group at EY, on building a robust corporate strategy in a volatile world. Famke introduces us to definitions and sub-categories of political and geopolitical risk and how companies can enhance their risk management protocols to be more prepared and expectant as the density and intenseness of global levels of volatility rise. With global examples, from France to China, Famke highlights the importance of businesses implementing and updating their geo-strategy; that is a holistic approach to managing political risk. Famke and Matthias apply this timely topic to various countries, including the rise of middle powers, and remind businesses of the importance of scenario planning to protect their models from anticipated events.

In this episode, Matthias Catón and Crystal Ennis discuss the migration governance complex, defined as how migration governance happens in practice and the various actors involved. Their discussion focuses on labor migration and examines its definitions, the fragmentation of migration governance, changing trends and geographical destinations of labor migration, and how we (individuals, organizations, and governments) can improve the socioeconomic conditions for labor migrants. Matthias and Crystal apply these theories globally and discuss practices in Germany, Canada, South Asia, and the Gulf countries. From a business perspective, and with businesses playing a significant role as employers, Crystal provides her expertise on what businesses can do to improve conditions for labor migrants and how a lack of regulatory incentives hinders this.

In this episode, Matthias Catón speaks with Sophie Eisentraut about the Munich Security Conference (MSC), the world's leading forum for debating international security policy. The episode investigates the effectiveness and relevance of multilateral dialogues from a broader perspective and the trends we can see in the future of international cooperation. Matthias and Sophie compare their experiences with Matthias' attendance at the Raisina Dialogue in March 2023 and Sophie's involvement in the MSC. Sophie shares her insights on changing moods at the MSC, in comparison to previous years, and highlights the importance of dialogue in response to a changing international order. Naturally, Matthias and Sophie apply these thoughts to various countries and geographical regions, including Russia and China; and further discuss the rising voices of non-aligned countries, swing states, and middle powers. The episode overarchingly brings in the mindset of 'revision versus re-envisioning'; the Munich Security Report 2023 title.

In this episode, Marjolaine Chaintreau, Head of Private Sector Digital Payment Innovation at the Better than Cash Alliance, and Matthias Catón discuss the evolution, importance, and impact of digital payments and, more broadly, access to financial services. The discussion examines how digital payments promote social inclusion and empowerment among individuals and the innovation and regulation driven by the private sector, financial institutions, and governments in finding solutions to increase access to digital payments. Marjolaine explains how traditional methods of digital finance (such as credit cards and ATMs) are incredibly costly to implement, hence why many parts of the world have been unable to adopt them properly. Their conversation also focuses on how businesses can benefit from increased digital payments and through increased revenues and security. Matthias and Marjolaine put these ideas into geographical context, drawing examples from Bangladesh, Germany, India, Kenya, and Ghana.

This episode of Business Diplomacy Today explores the importance of measuring external impacts in society and how companies can incorporate sustainability practices. Our guest expert, Matthias Mahlendorf, discusses the performance measurement for managing sustainability, performance, and digital transformation of management control. Topics include measuring social value, the benefits of sustainability for companies, normative aspects of measurement, and the cost of carbon emissions. We also learn about sustainability-linked bonds for financing large companies and whether small and medium-sized companies can also benefit. Please tune in to learn about various models companies can coexist with regarding ESG and switch from maximizing shareholder value to maximizing value to society.

In this episode, Matthias Catón speaks with Talal Rafi, Senior Global Management Consultant at Deloitte and a Deloitte Global Economist Network member. The discussion investigates how markets, notably emerging markets, can navigate the current economic climate when developing corporate strategies. Talal highlights the importance of supply-chain diversification through different lenses, how democracy can influence investment choices, and the transformation of economies during sustainability. Matthias and Talal map these theoretical concepts to the infamous India-China choice. Talal shares his expertise on Sri Lanka, the strategically-located country, the reasons for its recent distress, and its untapped potential.

Hosted by Matthias Catón, today's episode is in discussion with Joachim Klement, Head of Strategy, Accounting, and Sustainability at Liberium. We often hear about geopolitics, economics, and our globalized world. In this episode, Joachim introduces us further to geoeconomics. The discussion analyses changes in business models (notably since the pandemic) and the relationship between geopolitical risks and decision-making processes for companies of various sizes and natures. Matthias and Joachim empirically take this discussion on a national and individual level and further discuss country examples when looking into paths to diversification. In the context of geopolitical risk, Joachim and Matthias discuss the differences between "preparation" and "forecasting" and the qualitative side of forecasting, a concept primarily seen as a quantitative measure. Joachim interestingly provides his future predictions through three lenses: his "base-case", pessimistic, and optimistic scenarios.

Climate Change mitigation is discussed mainly on a political level between countries, both in multilateral fora such as the COP (Conferences of Parties), the G20, or bilaterally. Our guest Dhanasree Jayaram is an expert in these negotiations. She talks with Matthias Catón about different approaches to climate change in developed and developing countries. Developing and emerging economies have long argued that developed countries are historically responsible for past emissions. While this argument still holds, many of those countries also see opportunities. China focuses on green technology and is a world leader in producing solar panels. India has high hopes for green hydrogen. Furthermore, at least China's per capita CO2 emissions are reaching the levels of the European Union, which means that it will have to accept other measurement standards in the future. They also address the role of companies. More and more companies take action themselves, for example, by setting net-zero targets. According to Dr. Jayaram, small and medium-sized companies (SMEs) and startups may be better suited to make necessary changes to their business model, as they are nimbler and have less legacy. Unlike larger companies, however, they often lack the knowledge and skills.

Institute for Global and Area Studies (GIGA). They discuss the implications of economic sanctions and talk about different types of sanctions and the ways to measure their effects on the “target” (the country receiving the sanctions) and the “sender” (the country imposing the sanctions). Matthias and Julia discuss why countries apply sanctions frequently and how effective they are, depending on the type and context of the application. Julia describes different concrete sanction regimes, such as during Apartheid in South Africa and the ongoing Russian invasion of Ukraine. She also talks about the economic clout that the United States and other Western countries have and how a continued de-dollarisation of the world economy might affect it. Julia provides her prediction on the future of sanctions as a foreign policy tool.

In this episode, Dr. Matthias Catón interviews Sujan Chinoy, the Director General of the Indian think tank IDSA. The former Ambassador is an expert in Indo-China relations. They discuss the current political situation and the ongoing border conflict between the two countries, which has been going on for decades but is again tense since 2020. Despite the political and military tensions, trade between the two countries has increased over the past years. They talk about attempts to decouple supply chains partially from China to make them less dependent on a country whose geopolitical ambitions may make cooperation more difficult in the future. Ambassador Chinoy sees excellent potential for India to benefit from this diversification, not least because of the demographic advantage of a young population. Looking into the future, Chinoy believes that China has a long way to go to catch up to the United States economically and militarily. While he recognizes the potential of increasing global conflicts, he does not believe we will see a new bipolar world. Today's complexities and interdependencies are too deep for such a simplistic division.

Nicolas Schwank is an expert in political risk. His company monitors and analyzes different risks and briefs business clients. Our host Matthias Catón and Nico (who met when they both studied and worked at the University of Heidelberg), discuss different political risks that can affect business and how business leaders can ensure that they stay on top of things.

The host Matthias Catón and his guest Karsten Löffler talk about ESG Taxonomies. ESG stands for "Environmental, Social, and Governance" and essentially means how companies "behave" well as corporate citizens. Taxonomies measure this. The best known is the EU Taxonomy, but as we learn, it is by no means the only one in force or being considered worldwide.

Our host Matthias Catón interviews Horst Löchel, a true expert on China. They talk about the prospects for international companies to do business in China today. What is different from ten years ago? What are the risks, and what are the opportunities? And what are the specific challenges of operating in a country with an authoritarian government? Horst Löchel also weighs in on China's economic and geopolitical perspectives, including assessing the conflict with Taiwan.

In this episode, our host Matthias Catón interviews Matthias Lüfkens, a veteran social media expert. They talk about using social media as a means of public diplomacy. How do governments and world leaders use it, what should they avoid, and why can it be such a powerful tool?