Intelligence Squared The World for Sale, with Javier Blas and Jack Farchy
Mar 30, 2022
Journalists Javier Blas and Jack Farchy dive into how commodity trading shapes global finance, especially in light of Russia's invasion of Ukraine. They discuss the pivotal role of giants like Glencore and Trafigura, whose influence extends into geopolitics. The conversation reveals the complexity of adapting to sanctions and the emerging power dynamics between nations. Highlighting China's strategic grip on electric vehicle battery materials, they question the West's inaction and explore the shifting landscape of global energy reliance.
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Book's Genesis
- Javier Blas and Jack Farchy, authors of "The World for Sale," discuss how their book came about.
- The idea stemmed from their shared frustration over the lack of comprehensive books on the commodity trading industry.
USSR's Fall and Market Reshaping
- The fall of the USSR drastically reshaped commodity markets.
- The collapse of central planning created a market vacuum filled by commodity traders, leading to the rise of oligarchs.
2014 Sanctions
- In 2014, sanctions targeted specific Russian oligarchs and energy investments requiring Western technology.
- Gennady Timchenko, co-owner of Gunvor, was sanctioned, prompting him to quickly sell his stake.
