I don't want to do the "what is satire" thing, but I can't help it.
Going by a definition of satire which defines it as pretty much parody, but directed at society rather than another text; and a definition of parody which does not have as a defining factor simple ridicule of the object … maybe. He does the opposite of what satire usually is thought of as doing, though. There is less ridiculing and more goddamned scary when it comes to the Clockwork Hand, although I suppose it works like satire in that it enlarges and focuses on one tendency lifted out of how we normally see it.

And I think he has put his finger right where it ought to be. He has lifted the same problematic nature out of the evil corporation, the bad part of the military, the evils of bureaucracy, and shown how it is the same problem. That was a stroke of genius.

There are more of course also parts of the narrative which functions as more normal satire (the definition which includes ridicule of the object): The world bank is shown in its most absurd form in the case of Addeh Katir. As are international relations in general, I suppose. The build-up and the war as well. But I get the feeling he is continuously puncturing it with seriousness in a way which makes you stop and go "oh, shit, it's real". That might just be me.

But yes, I feel it should be stressed that this book is not simply satire. It has a strong strain of satire in its architecture (did I just mix my metaphors?), but it is not limited to that.