Oil and the Stock Market
The mere suggestion of discussion between Saudi Arabia and Russia about the price of oil is enough to raise both the price of the commodity and share values in the oil price-dependent stock exchanges.
Collusion and Global Trade
Collusion in global trade is neither new nor is it transformative as an economic development strategy. Saudi Arabia recognizes this fact in the diversified investments of its sovereign wealth fund; investments which now include Uber.
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In 1982, every US politician crawled from under his or her protective rock to declare the Export Trading Company Act of that year to be the greatest thing since sliced bread. The act permitted collusion (cooperation) among corporations, freight forwarders and other related entities making the effort to win foreign markets. It didn’t work because unlike Japan replete with its Sogo Shosha, the US is not a homogeneous society or business community.
Collaboration among disparate disciplines is already paying off in everything from the fight against cancer to the creation of software and the sale of software services.
There is mounting evidence that the goal of achieving a comprehensive platform for engaging in global trade, a platform which has 30 separate functions and features at my last count, is indeed achievable; through collaboration among legacy systems, banks, multilateral financial institutions, fintech companies, insurance companies, global trade platform providers, regulators, the ICC and SWIFT. Coming soon to a neighborhood near you!