For the last half-century the direction of travel for business has been towards more globalisation based on a stable world order. The march of the rules-based international system seemed unstoppable. Governments shrank, markets opened and borders came down.   This direction of travel is now changing. The pandemic super-charged the trend and gave governments a reason to step back in. Russia’s invasion of Ukraine has now upended the few certainties that remained, bringing the geo-politics of confrontation back to centre stage. Not only are barriers to business coming back into vogue, but economic and industrial policy itself is increasingly deployed as a means to advance foreign and security policy goals. Economic dependency is being weaponised, protectionism legitimised and borders rebuilt. It heralds shorter supply chains and more tightly controlled borders, not to mention aggressive tax policies to replenish the public purse. Shearwater is new, but the ties that bind its founding staff are not. We have worked closely together for many years – in business, in government or across the negotiating table.   We have held top jobs in politics and public administration in Britain, Europe, Australia and the United States. We have come together now because we believe our combined perspectives can help business rediscover its voice in British, European and global policy-making.   The battle to beat the pandemic has shown that the big challenges of our time can only be solved through collaboration, with business being closely involved. Businesses are required to forge new partnerships with governments and help advance public interests.   We work with business, regulators, politicians and other actors to ensure big policy goals continue to go hand-in-hand with economic growth. Our advice to clients is based on decades of watching close-up how the world’s most powerful people talk to one another. We help make our clients players, not just spectators.