As with all good risk management, dealing successfully with the risks that stem from trade and international capital flows boils down to a set of simple, yet vital, rules: (1) recognition that risk thinking must be an integral part of the organization's culture; (2) adequate alignment of risk assessment, management and communication; (3) correct assessment of the vulnerabilities; (4) creation of partnerships – in today's interdependent world, no stakeholder is powerful enough to mitigate risks on their own; (5) cultivate and exploit knowledge and networks; (6) be aware of the many cognitive biases that affect human decisions in conditions of uncertainty; (7) puncture denial (which is our most common strategy for dealing with risk) by being prepared and acting fast; (8) display humility. While the first four are merely organizational the last are more ‘attitudinal’ and thus their implementation is directly dependent on the traits of those who lead the business or govern the organization. Ultimately, good risk management – that is, the ability to strike the right balance between risk taking and risk mitigation – rests upon the capacity of the leadership to adapt to a world characterized by greater volatility and uncertainty in which new risks emerge continually and at a bewildering pace.