Odd Lots · Saturday, September 12, 2026
The global geopolitical landscape is increasingly characterized by resource nationalism and a shift from a 'just-in-time' to a 'just-in-case' economy. Robert Friedland notes that countries are prioritizing their own supply chains, leading to military build-ups and a more mercantile approach to international relations, where access to critical raw materials influences foreign aid.
“And so now we're seeing a sort of perfect storm in a balkanized world economy where demand for certain critical metals is going to infinity.”
“And now what do I mean by just in case? Every country in the world is looking to their own supply chain.”
“And if you look at our president, he told Mr. Zelensky in Ukraine, I will help you if you give me critical raw materials. It's become very mercantile.”