Social change has been rapid in recent decades, with new family and kinship networks, changing roles of individuals within society.
The pace of technological innovation is faster and faster. It has also allowed members of the community to get more accustomed to new technologies hence setting up digitized communities.
A mobility rich population, unwilling to forego the mobility freedoms with age and with young digital generations with different value sets which demand new types of mobility – a new world where transport modes become attachments to smartphones; and the whole locus of mobility control and seamless movement transfers to the user.
An international investor often faces the risk of expropriation of assets when a new government takes power or an existing government changes its stance toward foreign investment. The risk of not being able to convert local currency into hard currency or to transfer hard currency out of a country because of a shortfall in the national foreign exchange supply or a change in law is ever-present. And, depending on where an investment is located within a country, the risk of damage to a facility or an interruption of business operations because of political violence can arise without warning.
For international traders, political risks are every bit as real. Imagine exporting goods to a government buyer only to discover after the fact that it doesn’t pay its bills or the United Nation has just imposed an embargo on the country or your own government has just cancelled your export license. Wrongful calling of on-demand guaranties (for bid bonds, performance bonds, or advance payment guaranties) by governments happens all the time. Political change only accentuates the political risks inherent in trading abroad.