Global Shifts, Local Consequences: Geopolitics and Economic Strategy for Boards

Impact Boards EM are excited to continue our "Virtual Boardroom" series for 2026. These engaging members-only discussions are an opportunity for our community to meet virtually for networking and sharing knowledge on specific board themes.

This one-hour discussion will be an opportunity for members to share their knowledge and experience of having served on boards across emerging and developed markets around the world.

Our next discussion in this series will focus on Global Shifts, Local Consequences: Geopolitics and Economic Strategy for Boards.

For the last two years, the post war global order led by the USA has been upended. In its place, a multipolar order struggles to emerge and define its rules.  

At one end, some argue that a multipolar world defined by spheres of influence is the new template. In it, the US would dictate ground rules for its hemispheric backyard through the Donroe doctrine, China would assert its dominance in Asia, and Russia would reimpose influence over its near abroad. 

Some argue that there are nuances to this template, and that global influence is now horse traded among these players in a Monopoly game stakes in geopolitics and trade. 

Finally, Mark Carney’s middle powers speech defined the template for how the B club of nations can group up for values, common interests and influence. 

High on the list for this panel are the following questions: 

• Global trade: Where does it go post US tariffs, and who’s winning and losing 

• Hemispheric control: Are tariffs the stick to what carrot in Latin America? and what are countries in the region doing to insulate themselves? 

• Europe: What is the strategy for European security and the end game for the war in Ukraine. 

• War in Iran: Are there any scenarios where the Strait of Hormuz is reopened for free navigation? Can the world replace 20% of its oil to long term closure? What are the economic costs to each outcome? Who suffers most? 

• Is the NPT dead with no assurances of a US nuclear deterrent? Are Japan, Korea and the Gulf countries getting their own nukes? 

• Is Taiwan a chip in the grand bargaining between US and China?  

• How do energy and commodities trade in this new template? 

Please join us in this unique event to listen our speakers’ perspectives and assess these critical global and local scenarios in this topsy turvy period. 

Moderator:

Gregorio Saichin, CEO & Co-Founder, Impact Boards EM

Speakers:

Marcelo Carvalho is a global macroeconomist and keynote speaker focused on the intersection of geopolitics, policy and financial markets. He is currently a Senior Research Associate at ODI Global.

He helps audiences understand a critical question shaping today’s world: what happens when politics overrides economic rationality and how markets eventually force adjustment.

With over 30 years of experience across the IMF, JPMorgan, Morgan Stanley and as Global Head of Economics at BNP Paribas, Marcelo brings a rare combination of policy insight and market perspective.

View Marcelo's LinkedIn profile here

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Arnab Das is Managing Director of Das Capital. He worked with Invesco's investment teams across disciplines and regions and was a member of Invesco's Global Investor Forum Advisory Council with a focus on global macro and emerging markets. Arnab's research interests span economic policy, performance and reform, and economic and financial history.

Arnab joined Invesco in 2015 as Head of EM macro research for Invesco Fixed Income. He began his career in finance in 1992, and has served as Co-head of Economic Research & Strategy at Roubini Global Economics; Co-head of Global Economics & Strategy, Head of Global FX Research, and Head of EM Economics & Strategy at Dresdner Kleinwort; and Head of EEMEA Research at JP Morgan. He has also been a private consultant in global and emerging markets, as well as consulting with Trusted Sources, a specialist EM research boutique.

Arnab's studies were in macroeconomics, economic history, and international political economy. He received an AB from Princeton University in 1986 and completed his postgraduate and doctoral work at the London School of Economics in 1987-1992.

View Arnab's LinkedIn profile here

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Timothy Ash is an associate fellow in the Russia and Eurasia programme at Chatham House and a senior sovereign strategist at RBC Bluebay Asset Management in London.

He has worked as a professional economist for more than 30 years, with 20 of those in banking, working for institutions such as RBS, Bear Stearns, Nomura and ICBC Standard Bank among others.

Timothy’s specialism is emerging European economics, as related to fixed income investments. He writes and blogs extensively on economic challenges and his articles are published in the Kyiv Post, Atlantic Council, the Financial Times and the United Business Journal.

He has advised various governments on Ukraine-Russia policy and specifically on the impact of sanctions.

View Timothy's LinkedIn profile here