The global economy is undergoing profound rupture and change. The world’s largest economic blocs are each pioneering new economic strategies domestically and internationally. Between the return of tariffs, industrial policy, and the unpredictable weaponisation of interdependence, we are entering a period of global economic disjuncture that the world has not seen for nearly a century.

These structural and behavioural shifts have resulted in the expansion of the logic of national security across the global economy, which has brought about the emergence of a new area, “the geo-strategic economy.” All this is against the backdrop of challenging domestic economic contexts shifting voter demands of government; technological evolution amplifying concentration of economic power; and generational shifts in climate requiring new approaches to delivering sustainable growth. The UK is in a world of radical uncertainty with a range of potential future paths.

In this lecture, Jenny Bates, Heywood Fellow 2025-26, will argue that the UK is more susceptible to these shifts than many countries and needs a new strategy for this new context. She sets out such a strategic framework - called Building Secure Openness - and practical policies that the UK could implement. She argues that to do this requires embracing the UK’s role as a pivotal middle power in a world dominated by three large economic blocs; a fundamental shift in the way the UK government works with business; and reforms to how government operates.

The lecture is followed by a Q&A moderated by Yeling Tan, Professor of Public Policy.