Globalisation, and conflicting economic and political ideologies, are increasingly impacting international trade and supply chains. Geopolitical conflicts, such as trade disputes and trade barriers, increase the costs of trade and can restrict international demand.
While the future impact of this trend is difficult to quantify, Queensland and its resources industry must monitor this trend and remain agile in response to geopolitical changes. Queensland’s reliable supply and political stability will ensure that the resources industry remains attractive to investors and companies in light of these geopolitical risks. This trend will also drive the onshoring and development of critical supply chains.
Last reviewed 09 December 2021