I believe we’re closer to armed conflict than ever. Despite the ending of Israel’s attack on Hamas in Gaza, the illegal invasion of the Ukraine by Russia continues – with US peace negotiations offering to allow it to keep some of its ill-gotten gains -, while China has mounted its biggest ever war games just off the shares of Taiwan.
The ITC industry is dependent on rare earth metals form a number of war-torn regions. It is also very dependent on manufacturing in Taiwan and South Korea. Its supply chains will be stretched and could be broken completely under certain conditions.