Page 39 - BFSI CHRONICLE 10 th Issue (2nd Annual Issue ) 23062 COPY.indd

Edition July 2022
Annual Issue, 10
BFSI Chronicle, 2
BFSI Chronicle, 2 Annual Issue, 10 Edition July 2022
nd
nd
th th
[Geopolitical risk has been assuming
GEOPOLITICAL increasing importance in present day risk
analysis. The article attempts to delve into
the anatomy of geopolitics and geopolitical
risks and outlines some of the important
RISK: aspects of geopolitical risk management.]
The word ‘Geopolitics’ was originally
coined by Johan Rudolf Kjellén, a Swedish
IMPLICATIONS political scientist by the turn of 20th century.
Its use spread throughout Europe during
period between world war I and II (1918-
39) and came in worldwide use later. In
AND contemporary discourse geopolitics has
been widely employed as loose synonym for
international politics.

MANAGEMENT Anatomy of ‘Geopolitics’
‘Geo’ ( Greek) means earth and ‘politics’
( Latin Politikos) connotes public life relating
to citizens of State. The term Geopolitics
means the manner in which the politics of
a nation are influenced by the geography
which includes location, topography,
climate, natural resources, wealth besides
positioning with reference to water bodies
and importantly neighbouring nations.
Study of geopolitics looks at the manner
in which the physical location tends to
influence citizens’ relationship with one
another. How geography and economics
tend to play out to alter the dynamics of
politics and relations between countries is
within the realm of geopolitics. However,
of late power struggles and other events
involving association of various set of agents
viz., corporations, NGOs, dissident groups,
and political parties have also been classified
as part of geopolitics. In recent decades,
Shri Biplab Chakraborty usage of the word geopolitics includes a
Former General Manager varied classes of events with a wide range
Department of Banking Supervision of causes and impacts, ‘from terrorist attacks
Reserve Bank of India, Kolkata
to climate change, from Brexit to the Global

The Institute Of Cost Accountants Of India
The Institute Of Cost Accountants Of India
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