The Polycrisis

Seven Kings | Silicon World Order | 02

Henry Farrell on the political economy of AI: the industry’s social potential, and the menace it creates. Farrell identifies two questions to address when thinking about AI industry actors: What is their project? And what is the likely outcome of it? Henry Farrell is a professor working on democracy and international affairs at Johns Hopkins University. He’s published a number of books, most recently Underground Empire: How America Weaponized the World Economy. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Further info and texts we refer to: Reigning in Our Tech God Emperors - Essay in Democracy Journal https://democracyjournal.org/magazine/76/reining-in-our-tech-god-emperors/ Large AI models are cultural and social technologies - article Henry Farrell co-authored: https://www.science.org/doi/10.1126/science.adt9819 AI as Social Technology - essay by Henry and Cosma Rohilla Shalizi; Knight Center at Columbia University, May 2026 Nature's Metropolis: Chicago and the Great West By William Cronon https://www.goodreads.com/en/book/show/75243.Nature_s_Metropolis Henry’s NYT op-ed on how defunding social sciences has rendered society unable to understand AI (with Alison Gopnik and James Evans), September 2026 https://www.nytimes.com/2026/09/06/opinion/ai-social-sciences.html The Public and its Problems - by political philosopher John Dewy: https://en.wikipedia.org/wiki/The_Public_and_Its_Problems https://substack.com/@henryfarrell https://henryfarrell.net/

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Seven questions (Intro to season) | Silicon World Order | 01

AI is materially changing financial markets, the economy, energy systems and emissions, and geopolitics including China-US tensions. The second season of The Polycrisis - Silicon World Order - starts with the question of how to make sense of AI, and if we can make it work better for us. There are striking similarities and contrasts between how society has been dealing with climate and how it’s been dealing with AI so far. In this first episode we focus on that comparison and look at AI through the lens of climate change. In this intro episode we overview the themes and guests you'll hear from throughout Silicon World Order. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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Trailer | Silicon World Order

The AI boom is not the investment boom we wanted. Can we make it work for us better? The issues raised by AI are daunting, and are a potentially dangerous distraction from other challenges facing humanity. We’ll look at AI as a site of geopolitical rivalry, as a source of new military systems and as a climate threat. Will AI be good for development? Will it be an engine for economic prosperity or a dangerous financial bubble? Episodes released weekly from Wednesday, October 28. Hosted by energy and climate finance expert Kate MacKenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart

08 | Demand Destruction | Techno-optimism?

In this final bonus season episode, Kate and Tim reflect on the morality of focusing on the "co-benefits" of war, and whether they are techno-optimists or techno-pessimists. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: Prisoners of the Wrong Dilemma: Why Distributive Conflict, Not Collective Action, Characterizes the Politics of Climate Change - (Global Environmental Politics, Nov 2020 edition) Chartbook - Adam Tooze on Substack. Tooze has a new book coming out soon, Carbon, which Tim refers to in this episode. Tooze holds the Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European Institute.

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07 | Brazil: The next green industrial superpower?

The Polycrisis is sharing some episodes from other podcasts around the world while we develop our next season. This episode is from the Brazilian ClimaInfo podcast . It's about how Brazil has become a focal point in the global race for green industrialisation, and what that means for the future of the second largest economy in the Americas. We hear from Tulio Cariello of the Brazil-China Business Council and The Polycrisis' Tim Sahay. Brazil's new green developmental strategy requires delicate negotiations with China. It also means contending with the US – which wants to impose carbon dominance across the entire American hemisphere, rewarding countries that support its vision and punishing those that don’t. The Polycrisis is hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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06 | The conjuncture of geopolitics, energy and climate

The Polycrisis team’s taking a short break, we’ll be back next week. In the meantime we’re sharing an episode from NuVoices where they interview Kate Mackenzie. NuVoices host Solarina Ho asks Kate whether the topic of climate change has been weaponised amid the US-China trade war. Also how the global rush to electric vehicles served global needs, both strategically and environmentally. Kate shares her insights into the latest trend of climate collaboration, renewable energy development, and how we could save our planet at a time of geopolitical uncertainty. This podcast episode originally appeared on nuvoices.com on June 3, 2026. NuVoices is an international editorial collective. It celebrates and supports the diverse creative work of women and other underrepresented communities working on the subject of China (broadly defined). The Polycrisis is hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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05 | Canada gets its China-made EVs

The Polycrisis team’s having a short break, so we’re sharing a couple of episodes from other podcasts that are very relevant to our themes. Chinese EVs are just beginning to arrive in Canada this week; but – as we wrote back in January – the more significant element was Carney’s government making a promise to Canada’s own auto manufacturers: that they could attract new investment and tech from Chinese car companies. And that would lessen their deep reliance upon the US car industry and market – which is doubling down on highly polluting internal combustion engines, while most of the rest of the world moves rapidly towards electric vehicles. This episode is from our friends at The Wire China. It was recorded in April before Trump visited Beijing. Contact us at: polycrisispodcast@gmail.com Links: Canada's new non-alignment Some of The Polycrisis thoughts on Canada’s strategy to do the seemingly impossible task of decoupling from the US. Yes, it’s going to be painful, and building a coalition to endure that pain is part of Mark Carney’s plan, as demonstrated in his Davos speech. China’s Connected Vehicles Widen the U.S.-Canada Disconnect A Chinese EV maker that is expanding in Canada has ties to a U.S.-sanctioned surveillance company, illustrating the data and security risks connected vehicles pose. Mercantilism and stabilization Smelling the roses in the weaponized world economy - more from The Polycrisis Automakers back Trump plan to roll back fuel economy rules, but seek changes Alliance for Automotive Innovation backs reduction in stringency proposed by NHTSA. Alliance asks NHTSA to not eliminate credit trading to meet regulatory requirements.

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04 | Demand Destruction | Smelling the roses in Beijing

US-China relations have evolved because of the Middle East war. Trump recently made the first presidential visit to China in nine years. So what are the implications for energy and international development? And why it's not so much a “China shock” but a “China Squeeze”. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: Several episodes in our first season featured China-US experts: EP 1 The quiet revolution included Kyle Chan from Brookings. EP 4 Manufacturing Chimerica with Jessica Chen-Weiss and Jake Werner. Jessica Chen-Weiss also wrote an op-ed for the Financial Times this week A Cold Peace between the US and China is good enough and featured on CNN discussing where the US China relationship is headed Jake Werner's piece referred to is here A New Opening for US-China relations (Quincy) Relevant Polycrisis essays: Conscious Uncoupling , Mercantilist Deals of the Great Powers - three views on technology, decouplers, cooperationists, centrists

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03 | Demand Destruction | Fossil chaos and electric acceleration

Why exactly is this 2026 energy shock so different from the 1970s & 2022 shocks? Kate and Tim discuss our current energy security landscape, and outline some of the arguments made in their recent Polycrisis essay, just published with Phenomenal World. They also look at whether it matters that financial markets are becoming re-enthused about renewable energy. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: Dawn of the Electric World Order: Global shockwaves from the war on Iran are accelerating the energy transition - The Polycrisis May 8, 2026 Investors pile into clean power as Iran war drives push for energy security - Financial Times, May 3, 2026 China's Green Tech Firms Target New Consumers Hit by Iran War Energy Shock - Bloomberg News, May 11, 2026 Chinese Electrotech is the Big Winner in the Iran War - Paul Krugman's Substack - April 14, 2026 Ember Global Electricity Review 2025 - Record renewables growth led by solar helped push clean power past 40% of global electricity in 2024, but heatwave-related demand spikes led to a small increase in fossil generation.

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02 | Demand Destruction | OPEC drama kings

Is the UAE's departure from OPEC mostly about Gulf geopolitics and kings defending their regimes, or the outlook for oil demand? There is, as ever, a lot of context required to answer this question. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: Mohammed bin Zayed's Dark Vision of the Middle East - NYT, September 2020 How Midnight OPEC Dealmaking Won Gulf Unity at Africa’s Expense - Bloomberg, June 2023

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01 | Demand Destruction | US oil is not winning the Iran war

In this first bonus episode, we discuss why the Middle East war is accelerating the destruction of demand for fossil fuels, and why the US won’t become the new provider of "geopolitically secure” oil and gas. We also argue about whether the data is sufficient – *yet* – to prove our point that this is already happening. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: America’s bid for energy supremacy is being forged in war - Big Financial Times story setting out the “US is geopolitically secure energy provider” argument. With excellent data viz. Iran War Pushes Asia to Think Twice Before Doubling Down on LNG - Bloomberg One of the most persuasive anecdotal demonstrations that assumptions about LNG demand now have to be completely revised. “Bloomberg News spoke to more than two dozen executives, traders and analysts across Asia, who painted a picture of a region that had been thought of as the future of LNG, but is now rapidly losing faith in the super-chilled fuel.” US is making Europe pay dearly for its half-hearted electrification - Cornel Ban, Geoeconomic newsletter. Highlights how Europe’s slow energy transition has left it vulnerable to US energy predation. Echoes some of the arguments in the Permanent Suez report that Tim co-authored in early 2024. US ambassador to Europe threatens to remove “privileged” access to LNG - FT, March 24, 2026

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05 | Electric World Order | The US counterrevolution

Can the US stop the electric wave? In 2022 the US introduced its first ever set of serious climate policies. That took an unprecedented collaboration of racial justice, environment and labour interests. But oil and gas interests fought back quickly and effectively. Now the 2nd Trump administration is using sanctions, trade wars, and military power in a bid to slow the energy transition. Guests: Rhiana Gunn-Wright - Advisor to NY Mayor Zohran Mamdani, former climate policy program director at the Roosevelt Institute Ted Fertik - Vice President, manufacturing and industrial policy, Blue-Green Alliance; formerly of the Working Families Party. Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Music composed by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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04 | Electric World Order | Manufacturing Chimerica

China didn’t set out to fix climate change. Its production of clean energy and electrification tech is changing the world, but this particular green revolution is a byproduct of China’s economic strategy and its quest for energy independence. The global financial crisis, the US shale boom, and the US attitude towards China have all contributed to China’s new dominance of clean energy manufacturing. Guests: Jessica Chen Weiss - Professor of China Studies and the faculty director of the Institute for America, China, and the Future of Global Affairs at Johns Hopkins University School of Advanced International Studies in Washington, DC Jake Werner - Director of the East Asia Program, Quincy Institute for Responsible Statecraft Hosted by energy and climate finance expert Kate Mackenzie, and Tim Sahay from the Net Zero Industrial Policy Lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com Links: Jessica Chen Weiss in 2024; "The Case Against the China Consensus", Foreign Affairs CSIS note on the implications of China's rare earths export controls for US military and semiconductor manufacturing

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03 | Electric World Order | Demand destruction

How is the Middle East war going to change the energy strategies of many countries? Global powers have long relied upon the threat of cutting off fossil energy flows – or the revenues from selling them – to discipline and coerce other countries. The US has done this for decades with oil. Five of the seven countries attacked by the US under the second Trump administration are rich in oil. But the emergence of cheap clean energy tech and electrification complicates the picture. What can history tell us about the motivations of the US around geopolitical dominance and energy? Even among the chaos of the current US administration, a desire to perpetuate a globally traded fossil fuel system persists. Oil-producing nations that depend on selling the stuff overseas face existential threats from the energy transition; but the US administration wants to keep oil use high so that it can exert global power. Guests: Helen Thompson - Professor of political economy, Cambridge University; former co-host of the London Review of Books’ “Talking Politics” podcast Alex Turnbull - Managing director, Sagax Capital; energy researcher, commodities and energy trader Hosted by energy and climate finance expert Kate MacKenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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02 | Electric World Order | Rest of World

What does the US dollar have to do with energy access in Africa? Mark Blyth explains why countries are so keen to cut back their US dollar dependence; and how that’s connected to the way they get energy. Also, why Germany is afraid of Chinese EVs. Then we talk to Adjekai Adjei about how these constraints actually play out in the African continent. Guests: Mark Blyth - professor of international economics at Brown University. Naa Adjekai Adjei - Nigeria-based expert in Chinese energy projects in Africa from SE4All, and a fellow at the China Global South Project. Hosted by energy and climate finance expert Kate MacKenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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01 | Electric World Order | The Quiet Revolution

The second wave of the energy transition is already happening: Since 2022, developing countries have been rapidly ramping up their use of solar panels, batteries and electric vehicles. And the subsequent energy crisis of 2026 makes cleaner, electrified energy even more compelling. This episode explores how a surge of affordable, high quality clean tech is rewiring global energy; and why China is making all of this happen. Guests: Haneea Isaad (Institute for Energy Economics and Financial Analysis, Pakistan) Kyle Chan (Fellow at the John L. Thornton Center for China Studies, Brookings Institution; author of the newsletter, “High Capacity”) Hosted by energy and climate finance expert Kate MacKenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

Introducing: Electric World Order | The geopolitics of the energy and technology transition

This first season of The Polycrisis podcast tells the story of the clash between new and old energy regimes. Just like other energy transitions before it, this is a geopolitical story - not a climate one. Developing countries are leapfrogging their wealthy counterparts by rapidly deploying cheap solar panels, batteries and electric vehicles imported from China. This gives them a low-cost supply that’s immune to wars and other disruptions. This energy transition is deeply connected to shifts taking place in the world, especially since the US-Israel attacks on Iran: the reconfiguration of world power, US-China rivalry and the deterioration of US hegemony. Hosted by energy and climate finance expert Kate MacKenzie, and Tim Sahay from the net zero industrial policy lab at Johns Hopkins University. They co-author The Polycrisis newsletter, which explores connections between energy, geopolitics, climate change, finance and industry. Produced by Sarah Allely Original music by Russell Stapleton Mixed by Bethany Stewart Contact us at: polycrisispodcast@gmail.com

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Original theme music

The Polycrisis Podcast original theme music. Composed by Russell Stapleton