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Political risk - the probability that a political action could significantly affect an organisation - is changing fast, and it's more widespread than ever before. In the past, the chief concern used to be whether a foreign dictator would nationalise the country's oil industry or impose onerous new regulations. Today, political risk stems from a widening array of political agents, from Twitter users and terrorists to local officials, transnational activists, hackers and insurgents. What's more, the very institutions and laws that are supposed to reduce uncertainty and risk often increase it instead.