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Luxembourg is one of Europe’s smallest countries, yet its influence extends far beyond its borders. Through finance, international institutions, satellite communications and strategic specialisation, the country demonstrates how expertise and indispensability can create influence beyond scale.
When Warren Buffett speaks, markets listen. His annual letters are dissected line by line, his investment choices treated as signals of economic truth. Yet far from the spotlight, a far larger and arguably more consequential investor shapes global capitalism with almost no noise at all. Norway’s Government Pension Fund Global — often called the world’s largest sovereign wealth fund — does not try to beat the market. It is the market.
