Export Controls Are Hard to Enforce

Odell argues export controls push supply into black markets and examines geopolitical and manufacturing realities.

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As the Strait of Hormuz remains closed to shipping amid conflict between Iran, Israel, and the United States, governments across Asia are rushing to reduce energy use as fuel prices climb and supply issues strain economies reliant on Middle Eastern oil. Bangladesh has limited the supply of fuel and closed universities to save electricity. Pakistan shut schools and shifted services online, while the Philippines adopted a four-day workweek for some government offices. Vietnam and Thailand are promoting remote work, and South Korea has set a fuel price cap for the first time in nearly three decades. As we saw after the outbreak of COVID, authoritarian regimes often exploit macroeconomic crises to expand and cement their control. https://FinancialFreedomReport.org

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