Trust is becoming a strategic asset in an increasingly fragmented world. As confidence in institutions, partners and international commitments weakens, organisations respond with greater verification, redundancy and contingency planning. The erosion of trust may therefore create significant strategic costs long before it develops into a visible crisis.

The Strait of Hormuz is becoming more than a military flashpoint. As conflict raises risks for oil supplies, shipping and insurance, the greater danger may be a chokepoint that remains technically open but becomes too risky and costly for global commerce.