Saleha Mohsin, Philip Aldrick & Daniel Flatley / Bloomberg

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Energy, chips and Taiwan: Probable 2023 flashpoints in a fractured world

With a hot war raging in Europe and a cold one escalating between the US and China, the rest of the world is under pressure to pick sides. Political leaders are imposing new economic priorities, as they battle to avert shortfalls of vital commodities—from natural gas to semiconductors—and use the ones they control as leverage. For the titans of commerce gathering in Davos this week, all of this marks a shift away from the era of ever-closer global ties, when big business thought it had succeeded in making the world flat. Now it’s in for a bumpier ride.