In international finance, the difference between what is legal and normal and what is criminal and corrupt is often unclear, a disparity made worse by an overlapping series of laws and regulations which in some cases can put U.S. competition at a disadvantage. These networks of illicit finance, shell corporations, and offshore structures used by global elites to create, move, and conceal vast amounts of wealth is explored in great detail by Prof. Kimberly Kay Hoang in her new book, "Spiderweb Capitalism: How Global Elites Exploit Frontier Markets." Hoang's investigation, which involved some 350,000 miles of travel and dozens of field interviews with executives and market players, sheds light on this secretive and poorly understood corner of the global economy. In her discussion with Robert Amsterdam, Hoang explains how shell corporations can be set up to move funds from statelets like Guernsey, to more well known offshore havens like the Cayman Islands, as well as Singapore, Vietnam, Cambodia, Myanmar, and Delaware, among many others. Her investigaiton brings fresh insights to the shortcomings of laws like the Foreign Corrupt Practices Act (FCPA), which has imposed very high compliance costs on US companies but has done little to halt the activity of other players.

Playing in the grey in the shadow economy

International lawyer Robert Amsterdam and other members from the Amsterdam & Partners LLP team host a wide range of special expert guests to discuss leading international political and business issues.

Arts

Literature

Performing Arts

Design

Food

Fashion & Beauty

Visual Arts

News

Politics

Books

Among the slew of books that have come out recently on the war in Ukraine, there are few which take as broad a scope of the human experience of the soldiers, victims, and communities living on the front than the latest entry written by the war correspondent Christopher Miller. In his book, "The War Came To Us: Life and Death in Ukraine," Miller bears witness to the brutality of this remarkable, unprecedented conflict, bringing the stories of those involved with profound empathy and vivid detail - not only from pivotal scenes on the front, but also going back more than a decade to the seeds of the war, the meaning of Ukraine's struggle for nationhood, and the propulsive resilience that binds the survivors from Bucha to Bakhmut and Mariupol and beyond. In this conversation about his book with Departures host Robert Amsterdam, the FT correspondent comments: "I think this is a war that is more black and white than any war we have experienced since the Second World War. I do think this is a war that is more 'good vs. evil' than anything we have seen in the last 80 years." In explaining his approach to war reporting and the complexity of objectivity in the midst of violent conflict, Miller comments: "I think it is powerful enough in some cases to explain what you are witnessing. In the book, I was able to do some things that I am not able to do in my daily reporting, which is to provide some context, some personal context and analysis based on my personal experiences and knowledge. (...) I do try to separate myself from the events, but there are moments where you just can't. Sometimes you do have to help, sometimes that means carrying someone. (...) At that point you can't say, 'sorry, I am a reporter.'" A truly outstanding book from one of the greatest young war correspondents of our current era, we hope that listeners of Departures will pick up a copy.

The devastating human toll of Russia's war in Ukraine

From the late-nineteenth century until the mid-1930s, Vienna was Europe's undisputed powerhouse of ideas. But along with the exhilirating achievements of Freud, Wittgenstein, Mahler, and Klimt, there were also darker forces emerging in parallel which have had their own negative impact on modernity, from organized anti-Semitism to ethnonationalism ideologies. These complex tensions are explored in detail in Richard Cockett's excellent new book, "Vienna: How the City of Ideas Created the Modern World." In this discussion with Robert Amsterdam, Cockett explains how the Habsburg emperor, Franz Joseph, permitted such intellectual flourishing to occur, as the rapid influx of Jews and other groups and their assimilation into the Austrian middle class via commercial and educational success augmented intellectual curiosity, discovery, and experimentation throughout the city.  Viennese café and salon culture also helped to foster schools of thought, as students and professors would furiously debate disputed major questions of the day into the wee hours. The conditions for this fervent intellectual incubation of course was not to last, and we're all aware of what followed. Cockett's thoughtful history of the city in this period highlights what we can learn about encouraging greater intellectual vitality, pluralism, and civilizational development.

Vienna and the birth of the knowledge economy

The tremendous velocity of history that Ukraine has experienced since independence to the Maidan revolution to the catastrophic war brought on by Russia's aggression often tends to be sold and told in neatly packaged narratives to the West - a heroic tale of a plucky democracy breaking from from the yoke of an authoritarian past. But the reality, as always, is much more nuanced, complex, and messy. This week we are pleased to feature an interview with Volodymyr Ishchenko, the author of the fascinating collection of essays, "Towards the Abyss: Ukraine from Maidan to War." Ishchenko, a sociologist based at Berlin’s Freie Universität, offers a critical examination of Ukraine's trajectory post-Maidan revolution and asks probing, intimate questions about moral leadership and the future political model that the people of this nation at war are still seeking and negotiating. While making no excuses for Russia's brutality in the war, in this conversation with Robert Amsterdam, Ishchenko brings criticism to bear on the leadership from the left-leaning school of thought, examining the costs of ignoring history, misrepresenting identities, and other factors which have fed the growth of nationalism in Ukraine at the cost of other sectors of the society.

How the Ukrainian Left Views the War

It was just three years ago when the Economist magazine ran a cover story on Taiwan, describing it as "the most dangerous place in the world." With intensifying competition with China and deteriorating global security following Russia's invasion of Ukraine, there are many arguments that continue to support that negative outlook. But that's not the vision for CY Huang, a veteran investment banker with FCC Partners and an expert in the semiconductor industry. According to Huang, Taiwan benefits from its "Silicon Shield," the principle being that as long as the world needs Taiwan's dominant semiconductor production, Taiwan should be safe from foreign threats - though that level of security is tenuous and dependent on many other factors. In this fascinating coversation with Robert Amsterdam, CY shares his perspective on the geopolitics of semiconductor production, how the new era of AI is driving demand for more high-end chips which can only be manufactured in certain locations, and the recent history of the island's relations with the mainland.

The Future of Taiwan's Silicon Shield

As the war in Ukraine rages on into its second year, there remains little consensus or understanding of how the conflict could be resolved outside of military outcomes, and a persisting misunderstanding on behalf of the West regarding Ukraine's own internal preexisting social divisions. This week we're pleased to have a special guest, Dr. Nicolai Petro, a professor of political science at the University of Rhode Island, whose new book, "The Tragedy of Ukraine: What Classical Greek Tragedy Can Teach Us About Conflict Resolution," tackles these questions with unique literary framing. The conflict can not be understood merely on an institutional or rational level, but also must be considered in light of the emotional dimensions, Petro argues. Diving into the texts of Greek tragedies, Petro finds numerous illuminating parables from ancient Athenian society which can serve as frameworks to heal deep social trauma and create more just institutions. In this fascinating conversation with host Robert Amsterdam, Petro explores how he got the idea to approach the war from this perspective, how he responds to recent changes in Ukraine since the outbreak of war, and how the country may endeavor to secure its future.

Playing in the grey in the shadow economy

Download our free app to listen on your phone