The New Chokepoints: How Infrastructure Becomes Influence

At the height of empire, power came from ships, ports, and roads. Today, it comes from semiconductors, software, and payment rails. Every era has its chokepoints. The difference now is that they’re less visible — and far more embedded. We don’t notice them until they fail… or until someone deliberately makes them fail.

Behind the scenes of modern globalisation sits a fragile truth: the world still runs on leverage — just quieter, digitised, and better branded.

Power Isn’t Just About What You Control — But What Others Can’t Operate Without

Every system has a spine. And whoever controls the spine controls the system.

Historically, great powers consolidated influence through control of critical logistics:

• Rome owned the roads and ports

• Britain controlled the seas — and the telegraph

• The U.S. dominated oil, air, and the dollar

But today’s order is built on softer terrain: code, chips, bandwidth, and money flows.

And in this terrain, the tools of dominance aren’t always visible — until they’re used.

What Do Modern Chokepoints Look Like?

They no longer wear uniforms. They come embedded in platforms and networks:

Domain	Chokepoint	Current Hegemon
Finance	Dollar system, SWIFT, Fed liquidity	U.S.
Technology	Advanced semiconductors, lithography	Taiwan, Netherlands, U.S.
Communications	Cloud storage, internet cables, platforms	U.S. tech giants
Resources	Rare earths, lithium, gallium	China
Agriculture	Fertilisers, grain corridors	Russia, Brazil, U.S., Ukraine

These aren't just sectors. They're systems. And every system has a point at which, if pressure is applied, the whole thing wobbles.

From System to Strategy

We’ve seen how fast interdependence can be politicised:

• The U.S. restricted semiconductor exports to China

• China responded by halting rare earth shipments

• Russia cut energy supplies during conflict

• The West removed entire countries from financial networks

None of these moves were random.They weren’t about markets — they were about leverage. The systems we thought were neutral have become instruments of intent. That’s not a malfunction. It’s a shift in the operating logic.

Why Investors Need to Rethink Risk

This isn’t just a geopolitical story. It’s an investment one. In a world where key platforms, supply chains, and technologies are up for grabs, the old frameworks — diversification by geography or sector — aren’t always enough. A better question might be:

Who owns the chokepoint — and who relies on it without control?

Exposure Type	Example
Owns the system	ASML, TSMC, Microsoft Azure, Visa
Dependent on access	Apple, Nvidia, JPMorgan, Amazon
Vulnerable to shocks	Automakers, consumer electronics, agri suppliers

This isn't about avoiding risk — it’s about understanding it. Systems that look stable are often just untested under strain.

The Illusion of Neutral Infrastructure

We often price assets as if infrastructure is stable and apolitical.

But:

• Semiconductors are now a proxy for national security

• Payment networks are tools of sanction

• Cloud platforms are being re-nationalised

• Even rare earths have become bargaining chips

What once looked like boring backend architecture is now the battleground of influence. And most portfolios aren’t designed for that.

So What Are the Powers Competing For?

Not land. Not ideology. Not even always capital. They’re competing for control of:

• What others depend on

• What can’t easily be replaced

• What can quietly dictate the options available to everyone else

This is the essence of modern hegemony: Not visible dominance — but embedded dependency.

And What Should Investors Be Watching For?

• Concentration of control: Who owns the platforms others must use?

• Fragmentation signals: Are alternative systems being built?

• Policy risk: Could a change in access policy redraw your investment map?

• Systemic asymmetry: Who can afford to lose access — and who can’t?

This is the new map of strategic exposure.It’s not on the headlines — it’s under the surface.

This Isn’t About Prediction — It’s About Positioning

Understanding where the world is fragile — and how power flows through hidden pipelines — isn’t speculation. It’s preparedness. Because in a world of invisible chokepoints, the strongest portfolios won’t just diversify assets. They’ll diversify access.