Veracity Worldwide

Veracity Worldwide has appointed Benjamin Weiss as chief executive officer. After joining Veracity in 2015, Ben held a succession of research, client management, and global executive positions, and has led the firm’s Asia-Pacific business for the last five years. Prior to joining Veracity, Ben held research roles at prominent think tanks in New Delhi and New York, advised Fortune 500 executives on strategic communications, and worked on Middle East affairs in Washington, DC. He takes over from Jay Truesdale, who will serve as a Veracity senior advisor during the transition.

Veracity CEO Jay Truesdale will speak at the ICIS Pan American Base Oils and Lubricants Conference in Jersey City on November 30, where he will address major flashpoints such as the war in Ukraine, US-China tensions, and upheaval in the Middle East. He will share how industry leaders can develop frameworks to prepare for geopolitical disruption, manage risk, and build on strategic opportunities in the context of the energy transition. Jay Truesdale ICIS

Libertarian and political newcomer Javier Milei will become Argentina's next president after his commanding 11-point victory in runoff elections on 19 November. Milei’s pledged reforms and combative politics will have an immediate effect on Argentina's foreign and economic agenda, particularly its relationship with China. Here are four things Veracity will be watching as Milei takes office in December: ◾ Relationship with Congress Milei's margin of victory gives him a popular mandate, but he will need to work with opposition lawmakers to enact bold reforms that formed pillars of his campaign. Milei's coalition holds only eight of 72 seats in the Senate and 40 of 257 seats in the lower house. None of Argentina's 23 provincial governors are from Milei's coalition. ◾ Dollarization Implementing Milei's pledge to dollarize the economy will be difficult – the country lacks an adequate volume of greenbacks – and risks triggering transitionary shocks. However, moving to the dollar will incentivize the Milei administration to maintain attractive policies for Western investors. ◾ Incentives for electric vehicles supply chain Milei's pledge to remove government incentives supporting its nascent electric vehicle supply chain would hurt battery manufacturing and electric vehicle production plans. Under such a move, Chinese companies, backed by Beijing, could prove to be more resilient than Western competitors, given the extent of Chinese state support for firms operating abroad. ◾ A more volatile China relationship Milei’s inflammatory remarks could threaten Argentina’s bilateral ties with Beijing, especially related to Chinese financing, trade, and investment. Under the outgoing Fernandez administration, Argentina relied on Chinese swap lines to make IMF debt repayments and to develop its lithium sector and electric vehicle supply chain. Veracity wrote about these themes in more depth prior to the first round of the election. Read our previous analysis here: https://lnkd.in/e8Zfrhag Jay Truesdale Mitch Hayes

Veracity Worldwide CEO Jay Truesdale participated in the Boston Consulting Group (BCG)-led plenary session on geopolitics and global trade of the World Policy Conference in Abu Dhabi. He offered perspective on preparing businesses and investors to address geopolitical challenges.

Veracity's CEO Jay Truesdale spoke with Reuters on Tesla's proposed factory in northern Mexico. He commented that Tesla suppliers looking to expand in Mexico are likely to keep moving ahead, noting that they are "making a 30-year bet, not a three-year bet." He added that even if Tesla's production in the country is not fully operational, suppliers will be producing electric vehicle components "that will have a global demand."

Argentina’s upcoming presidential election will usher in a new era for the country’s lithium sector and may lead to increased Chinese presence in its electric vehicles industry. In this note, CEO Jay Truesdale and Director Mitch Hayes examine frontrunner Javier Milei’s pledge to dollarize the economy and scrap government subsidies. They argue that dollarization risks transitionary shocks but would incentivize pro-business policies. However, removing government subsidies may give Chinese companies—with backing from Beijing, years of investment in Argentina, and close ties to provincial governments—an advantage over their Western counterparts.

We are delighted to announce that Cameron Grant, a highly accomplished commercial lawyer and geopolitical analyst with extensive experience throughout Asia, has joined Veracity as a director. Working alongside Managing Director Benjamin Weiss in the Melbourne office, Cameron will help to build the firm's capacity in the Asia-Pacific region and further establish our presence in Australia.