Brand Finance, the internationally renowned brand valuation agency based in London, recently released the “Global Soft Power Index 2024,” which shows that the U.S. and the UK have maintained their positions as the top two most influential countries in global soft power. It is noteworthy that China is the fastest-growing nation brand this year, surpassing Japan and Germany, and for the first time, ranking third in the soft power index, with the country's progress exceeding that of any other country. Brand Finance has been tracking the performance of global soft power in multiple countries for five consecutive years, and this year's report is based on surveys of over 170,000 respondents from more than 100 countries, ranking all 193 member states of the United Nations for the first time. Brand Finance defines soft power as “a nation's ability to influence the preferences and behaviors of various actors in the international arena – states, corporations, communities, the public, and other entities – through attraction or persuasion rather than coercion.” The Global Soft Power Index is also the most comprehensive and extensive field survey of its kind.
In more developed markets, Brand Finance's established online research panels were used. Each respondent was shown a random sub-set of nation brands – drawn from the 193 countries included in the Index – and asked about their familiarity. For countries about which the respondent had some knowledge, a detailed assessment of reputation, influence, and performance on 35 characteristics representing the core eight Soft Power Pillars was obtained. In the 2024 Brand Finance Global Soft Power Index, China made the most significant advancement among all nations, rising from fifth to third place, and its overall score increased by 6.2 points from 65.0 to 71.2 over the previous year, mainly due to China's significant improvement in the two pillars of “Business and Trade,” and “Education and Science.” A nation's ability to engage in trade effectively, maintain economic stability, and provide attractive investment opportunities is pivotal in shaping global perceptions.
In terms of specific indicators, China's performance is equally impressive. Since the first release of the Global Impact Index report in 2020, China has been ranked first in the world for being “easy to do business with” under the Business and Trade pillar, and has been No 1 for “future growth potential.” In the education and science pillar, China ranks second in the world in indicators such as being a “leader in technology and innovation” and “investing in space exploration.” In education and science, China has made significant progress in recent years. Underscored by various breakthroughs in areas like artificial intelligence (AI), renewable energy, and space exploration, China has been able to cultivate an international reputation for its innovation capabilities and technological prowess.
Brand Finance highlights a significant trend: hard power undermines soft power. Soft power revolves around influence through persuasion or attraction, rather than coercion, while hard power – which is associated with military strength – tends to undermine soft power by its very nature of coercion, the Global Times reports.
