Client Trends Australia

Trade winds & geopolitical twists

Episode Notes

Remarkably, the cost of shipping ingredients and finished goods to Australia has risen by 500-700% over the last few years.[1] 

In this episode, Aon’s Kylie Barrs, Director for NSW, and George Dunn, Head of Crisis Management explore how complex geopolitical risk dynamics are impacting trade in Australia. Our specialists also share key insights on the ‘not-so-obvious’ connections between trade trends and business challenges, from climate change to virtual kidnapping.

• [0:34] How inflation affects trade conditions
• [1:53] A deep dive into the geopolitical risk landscape
• [2:38] How geopolitical instability is impacting Australia
• [4:11] Supply chain challenges - product safety and recalls
• [5:12] The not-so-obvious connections between trends and challenges
• [6:28] Preparing for the impacts of geopolitical disruption

If you'd like to speak to one of the experts featured in this podcast series, click here and we'll direct you to the right specialist.

Additional Resources:

Client Trends Report 2024 - Trade

Trade | Aon Insights 

Geopolitical Risk | Aon Insights AU

Tweetables:

• "One of the most recent and severe examples we have seen is the trade embargoes and tariffs on Australian products going into China. It has been estimated that this has impacted Australian industries to the tune of $20bn.” – George Dunn
• “Limited access to ingredients and components has meant that some businesses have had serious food or product safety issues and have had to withdraw or recall products.”– George Dunn
• “Sometimes bringing in expertise to help test resilience in crisis management tabletop activities can give a much-needed external perspective, which in turn, can give external validation to business decisions.” – George Dunn

[1] Australian Food and Grocery Council, Cost pressures affecting Australian food and grocery manufacturers - Australian Food and Grocery Council (afgc.org.au), 2022