The International Risk Podcast podcast

Episode 398: Occupied Alaska: How America Could Lose Territory Without a Shot Fired

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In this episode of the International Risk Podcast, host Dominic Bowen is joined by Dr. Holly Bell, economist, former professor and academic administrator at the University of Alaska Anchorage, and author of the geopolitical novel Occupied Alaska. Holly shares the real events that inspired her book, drawing on her own work opposing a proposed $43 billion Chinese-backed gas pipeline deal in Alaska, and explains why economic dependence on foreign capital, technology and infrastructure can constrain a nation's sovereignty just as effectively as military force.

We discuss:

  • How a 2017 agreement between Alaska and a Chinese state-linked company for a $43 billion LNG project became the basis for a speculative novel about foreign occupation
  • Why economically unviable infrastructure deals can still attract foreign investment, and what predatory lending terms reveal about the true intent behind them
  • How debt-trap dynamics that have played out in Sri Lanka and Djibouti could realistically unfold within a U.S. state
  • The accumulation risk of individually rational investments in energy, agriculture and finance, and how they can combine into a national security threat
  • Why Alaska's abundance of rare earths, oil, gas and proximity to Russia make it strategically indispensable, and strategically vulnerable
  • The structural disadvantage democracies face when competing against authoritarian states that plan in decades rather than election cycles
  • How economic leverage translates into political influence, from campaign financing to land use regulation
  • What current developments, including foreign interest in U.S. data infrastructure, reveal about where these risks are heading next

The International Risk Podcast brings you conversations with global experts, frontline practitioners, and senior decision-makers who are shaping how we understand and respond to international risk. From geopolitical instability and organised crime to cybersecurity threats and hybrid warfare, each episode explores the forces transforming our world and what smart leaders must do to navigate them. Whether you’re a board member, policymaker, or risk professional, The International Risk Podcast delivers actionable insights, sharp analysis, and real-world stories that matter.

Dominic Bowen is the host of The International Risk Podcast and Europe’s leading expert on international risk and crisis management. As Head of Strategic Advisory and Partner at one of Europe’s leading risk management consulting firms, Dominic advises CEOs, boards, and senior executives across the continent on how to prepare for uncertainty and act with intent. He has spent decades working in war zones, advising multinational companies, and supporting Europe’s business leaders. Dominic is the go-to business advisor for leaders navigating risk, crisis, and strategy; trusted for his clarity, calmness under pressure, and ability to turn volatility into competitive advantage. Dominic equips today’s business leaders with the insight and confidence to lead through disruption and deliver sustained strategic advantage.

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