The ongoing crisis in the Strait of Hormuz has exposed the strategic vulnerabilities of global trade, prompting Britain's foreign secretary to call for economic resilience in the face of geoeconomic challenges.
The Strait of Hormuz is a critical waterway that connects the Middle East to the global economy, and its disruption has resulted in economic damage and instability.
Britain's foreign secretary has emphasized the need for economic security and resilience in the face of great-power competition and the increasing use of economic tools to exert global leverage.
The foreign secretary has outlined four key implications for Britain's foreign policy, including the need to prioritize economic resilience, position skilfully around the world's major blocs, work together with other trading nations, and seize the moment for a clean-energy transition.
The foreign secretary has also highlighted the importance of frontier technology, including AI, in shaping the future of economic power and has announced a £500m commitment to build core national AI capabilities.
In a world of profound change, economic choices now shape security and sovereignty as much as they shape prosperity, and Britain's foreign secretary is urging countries to be more hard-headed about what openness means and the diplomatic shifts needed to ensure that partnerships abroad make them safer and more prosperous at home.
