The Geopolitics of Business
Rewiring Global Governance, State Capitalism and the Business of Trust: Professor Ngaire Woods
Published: 20 March 2026 at 15:30 Europe/London
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Episode notes
In this episode of The Geopolitics of Business, Professor Ngaire Woods — founder of the Blavatnik School of Government at the University of Oxford and board member of mingin giant Rio Tinto — explores how the fracturing of the post-war rules-based order is forcing governments, institutions and businesses to rethink the foundations of global cooperation. Drawing on decades of experience advising governments and studying international institutions, Ngaire examines why the shift from multilateral governance to transactional power politics is creating dangerous instability — and what the rest of the world can do about it.
She discusses the structural strain on international institutions, the limits of deal-by-deal diplomacy, and whether order is possible without American leadership. Ngaire examines the race for critical minerals, the rise of state capitalism, and what it means for companies to earn a popular licence to operate in an era of political volatility. She argues that the countries and businesses best positioned for the future are those that invest in trust, diversity of thinking and genuine partnerships — rather than retreating into groupthink or short-term transactionalism.
Host: Sam Gyimah, Founder and CEO of SG& Capital Partners
Producers: Clare Williamson and Duncan Williamson for TGOB Media Ltd in partnership with SG& Capital Partners Ltd
Music composed by: Sophie Sirota
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You can find a summary of the key points in this episode in The Geopolitics of Business Newsletter
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