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Read the Full Edition The Green Recovery Edition I Trinity Term 2021 The Oxford Strategy Review Welcome to the OSR “We want to bring the best of Oxford thinking to the most pressing questions in corporate strategy, international affairs, the global economy, and to the future challenges we all face.” oday, more than ever, the world around us presents both immense opportunities and T incredible challenges. Recent experience, from the global financial crisis to the coronavirus pandemic, has demonstrated that adapting to this evolving reality requires initiatives that bring together governments, business, and institutions from across civil society in support of the common good. We’ve been inspired, in the course of this pandemic, by the incredible work done to develop and deliver a vaccine for the world. That started with ideas generated by a small team at Oxford, funded by research organisations, supported by governments, tested with the support of volunteers and charities, and delivered in partnership with companies from across the world. We’re sure that more can be done to generate ideas and discussion which connect these traditionally distinct spheres, with institutions like Oxford ideally placed to play an important role in that conversation. The Oxford Strategy Review is a new, student-led journal which will bring the best of Oxford thinking to the most pressing questions in corporate strategy, international affairs, the global economy, and the future challenges we all face. The OSR is run by Oxford students, and publishes contributions from the student body, researchers, alumni and others associated with the university. Our editorial team is drawn from across the university, including undergraduates reading for degrees in Philosophy, Politics and Economics, and graduates at our schools of Business and of Government. Our audience is global, reaching out to all those with an interest in these topics – in business, within government, across academia, and in organisations and institutions across civic society. We and our contributors address questions across four areas of challenge and opportunity – on corporate strategy, international affairs, the global economy, and a wide range of future challenges. On corporate strategy, we focus on fundamental forces and how corporates, institutions and governments are responding to them. On international affairs, we lead with analysis of the leading challenges in global politics, governance, security, and international relations. On the global economy, we address emerging trends and disruptions in global economics, trade, and technology. And on future challenges, we tackle the multiple threats and opportunities faced by governments, corporations and institutions, and the potential solutions they might adopt. Our team will look to address topics in each of these areas, and at their intersections, looking for new ideas which reach across different fields. We’d like you to play a part in all of this as well – by engaging with us on these topics, by contributing content, and by helping us to reach out to our growing audience around the world. Welcome to the Oxford Strategy Review. James Dancer Chair, Oxford University Alumni Board 1 Our Team Founder James Dancer Chair of the Board Senior Leadership Team Elliot Sturge, Nehmat Kaur, Wojciech Strupczewski Adam Thompson Editors-in-Chief Managing Director Corporate Strategy International Affairs Jaisal Kapoor Priyan Slevakumar Mika-Erik Moeser Laura Caccia Senior Editor Deputy Editor Senior Editor Deputy Editor Global Economy Future Challenges Dave Muriuki James Halsall Jessica Swafford Mirte Boot, Sarah Ehlinger Affotey Senior Editor Deputy Editor Senior Editor Deputy Editors With Special Thanks to Daria Maria Koukoleva Brand Director The Board James Dancer Chair of the Oxford University Alumni Board Michael Unger Emma Weitzman Samuel Diaz Pulgar Class Co-President President Cohort President Saïd Business School Oxford PPE Society Blavatnik School of Government 2 Contents Welcome to the OSR ....................................................................................................................................................................................... 1 Our Team .............................................................................................................................................................................................................. 2 Editorial: The Green Recovery ................................................................................................................................................................. 4 The Interview: Professor Chris Dye on pandemic preparedness and a sustainable future ....................................................... 5 Corporate Strategy .......................................................................................................................................................................................... 9 Editor's Note ................................................................................................................................................................................................................................ 9 Understanding the lack of private infrastructure in Africa .............................................................................................................................. 11 Two silver-linings of Covid-19: Why we need a ‘Green Recovery Now’ ........................................................................................... 14 Data trusts: A silver bullet for private sector data management? ............................................................................................................ 18 Global Economy ............................................................................................................................................................................................. 21 Editor's Note .............................................................................................................................................................................................................................. 21 Consumer spending in an accelerated digital future ....................................................................................................................................... 22 Regulations-driven first-mover advantage in global capital flow ............................................................................................................. 25 Is private equity to blame for the High Street’s collapse? ........................................................................................................................... 28 International Affairs ......................................................................................................................................................................................... 31 Editor's Note .............................................................................................................................................................................................................................. 31 Populist strongmen and climate change: A crisis of collective action .................................................................................................. 32 Looser patent laws can help fight climate change ............................................................................................................................................ 35 Peter Cardwell: “Intractable” EU needs to be “realistic” about Northern Ireland Protocol ...................................................... 38 Future Challenges .......................................................................................................................................................................................... 42 Editor's Note ............................................................................................................................................................................................................................. 42 In India, a lesson on poor environmental governance and economic loss ...................................................................................... 43 Accounting for our future ................................................................................................................................................................................................. 46 New kids on the blockchain: Applying the latest tech trend for good ................................................................................................ 49 3 Editorial: The Green Recovery The coronavirus pandemic has led to an unprecedented surge in the political salience of climate change - arguably the first existential threat that humanity has had to face in unison, and which hazards ending civilisation as we know it. As states around the world turn their gaze to the post-COVID-19 period, economic recovery is at the forefront of their considerations. The global urgency for climate action coupled with the preponderance of post-pandemic recovery on political agendas, has led to international organisations such as the EU, global powers such as the US, and others, to frame their recovery in green terms. That choice has profound, intersectional implications for the entire world. A green recovery will impact large and small corporations and their strategies by influencing global supply chains, regulations, industrial practices and countless
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