What are Geopolitics & International Relations?
Geopolitics and international relations involve the study of how geography influences political power dynamics globally. It examines the competition over geographic entities - places, regions, territories - among countries and groups to achieve political objectives. This field assesses the impact of geographical factors on global interactions, focusing on power, territorial disputes and strategic interests. It integrates analysis of political, economic, and societal trends to forecast state behaviours, considering both classical and critical perspectives, to understand the evolving international environment and its implications for security, diplomacy and global economics.
Sources: Utah State University, Oxford Academic & CFA Institute
What Were the Most Turbulent Geopolitical Issues of 2023?
2023 was a year of countless geopolitical issues and turbulent international relations that shook the world. Some of the most pressing events and issues included:
- Hamas Attacking Israel - On October 7th 2023, Hamas attacked Israel. An estimated 1200 Israeli people were killed - documented as the deadliest day in Israel's history. 240 people were taken hostage, and in response, Israel launched airstrikes against Gaza. Due to the soaring numbers of Palestinian women and children that were being killed, Israel was soon accused of committing war crimes. The conflict end and what will follow remains an open question into 2024.
- Russia's Invasion & War with Ukraine - In February 2022, Vladimir Putin invaded Ukraine, escalating the Russo-Ukranian War that began back in 2014. By April 2023, over 8.2 million Ukrainian people had fled their country. Sanctions were imposed on Russia, in a bid to reduce their strength, but the Russian economy only contracted by 2.2%. The most recent developments in the war have included air-launched cruise missiles from Ukraine's air force and Ukrainian sea drones striking the Russian Ivanovets in the Black Sea.
- Interest Rates - Interest rates have increased significantly throughout the UK since 2021, with the Bank of England working tirelessly to keep inflation under control. In July 2023, we saw substantially high interest rates of 6.86%, which resulted in some mortgage holders selling their homes due to not being able to afford their monthly payments.
What are the Greatest Geopolitical Risks & Developments of 2024?
2024 promises to be yet another year of turbulent international relations and geopolitical developments. Below are some of the forecasted geopolitical developments of 2024:
- The Race to Innovate & Regulate Artificial Intelligence - As AI built its momentum in 2023, 2024 is the year in which the geopolitics of AI become increasingly important. It is forecasted that global governments will race each other to regulate AI so that the sociopolitical risks of this innovative technology are minimised.
- Global Elections - Across the globe, 2024 will be a year of pivotal elections in many countries. One of the biggest elections taking place in 2024 is expected to be the USA Trump Vs Biden election, with Joe Biden seeking to secure a second term as President of America against former President Donald Trump. Another pivotal election occurring in 2024 is the Indian election, in which Prime Minister Narendra Modi looks to secure a third term amidst allegations that he has been undermining India's traditions and enacting controversial laws.
- Geostrategic Prominence of Oceans - The geopolitics of oceans are expected to be increasingly prominent in 2024, with oceans home to 94% of life on Earth. Due to such a statistic, oceans are becoming an increasingly important asset as economic and national security resources. With 90% of goods shipped globally, oceans are becoming critical factors of supply chain and sustainability strategies, along with maritime transit corridors becoming subject to geopolitical disruptions.
- The Global Economy & Inflation - A core challenge of 2024 will continue to be the state of the global economy. The rate of inflation will likely fluctuate globally, with the International Monetary Fund reporting that global inflation will reach 5.8% in 2024, and will take until 2025 to be reduced to the target of 2%.
- Cyberattacks - Cyberattacks are becoming an increasingly prominent geopolitical risk, predicted to become increasingly prevalent throughout 2024. Global governments are experiencing cyberattacks, including the USA and Australia, with cyberattacks predicted to cost the global economy $9.5 trillion in 2024.
- Climate Risk - Climate change is expected to continue to be one of the most significant geopolitical risks of 2024. Climate risk is forecasted to have lasting implications on global stability, such as species extinctions, natural disasters and extreme weather events - with 66% of risk analysts citing that extreme weather is an immediate risk.
A framework for understanding global politics, our expert geopolitics & international relations speaker explore the strategies and actions taken by countries, terrorist groups and other entities to achieve their political objectives or control and influence over geographical features. If you want to understand more about how geographical locations are leveraged for political advantage, or how power is used to control geographical entities strategically, contact Champions Speakers to hire a geopolitics & international relations speaker today!
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