The new currency of power: why trust, not capital, will decide the contest for global influence

It is a privilege to present this article, ‘The New Currency of Power: Why Trust, Not Capital, Will Decide the Contest for Global Influence,’ at a time when geopolitical tension and political instability continue to reshape the global order. Two things strike one straightaway: first, the focus on institutions and the trust people have in them offers a different way of understanding global influence. The second obvious feature is that capital and infrastructure alone cannot secure lasting influence if trust in institutions is weak. In the remainder of this article, we explore why and how institutional trust is important, based on the reasonable assumption that trust has become a strategic asset. We offer brief lessons on how institutional trust can strengthen states, markets and international partnerships. For what it is worth, our aim is to highlight how essential it is for policymakers to treat trust as part of the infrastructure of power. We conclude by emphasising that those who build and sustain institutional trust will be better placed to secure lasting influence in an increasingly uncertain world.