Many of the weirder geopolitical parts like how large numbers of cables are all laid across Egypt to get from Europe to middle east -> south asia still remain significant factors. The part that is most dated is the cables being built by exclusively by big traditional telecom companies, when this was written in 1996 the idea of Microsoft or Google or Facebook or others bankrolling a submarine cable from Brazil to Europe was very far away.

The new and novel thing in 1996 from the author's perspective is cables being built not by a PTT type "telephone company" (the Bell System/AT&T, BT, France Telecom, etc) but a new entity that intended to build the cables to sell capacity to multiple telcos.