Economic diplomacy in the 21st century: principles and challenges

Yueh, Linda Y. (2020) Economic diplomacy in the 21st century: principles and challenges. Strategic Updates (August 2020). LSE IDEAS, London School of Economics and Political Science, London, UK.

Text (LSE IDEAS Strategic Updates August 2020) - Published Version Download (848kB)

Abstract

Economic diplomacy in the 21st century will face a different set of challenges stemming from the changed global economy, US-China tensions, as well as a backlash against globalisation, among others. Therefore, the conduct of economic diplomacy, i.e., how a country manages its foreign economic relations including trade and investment, must adapt. The framework for economic diplomacy should seek to balance commercial openness with strategic foreign policy aims, broadly defined. It should situate a country within the 21st century global economy with its new drivers, promote a rules-based system in order to mitigate Great Power tensions, and recognise that all foreign economic policy is ultimately also domestic. There is no one general approach but there are several principles, each with their own challenges, for governments to consider, which is set out in this Strategic Update.

Item Type:	Monograph (Working Paper)
Official URL:	https://www.lse.ac.uk/ideas/publications/updates/e...
Additional Information:	© 2020 The Author
Divisions:	IGA: LSE IDEAS
Subjects:	J Political Science > JZ International relations H Social Sciences > HC Economic History and Conditions
Date Deposited:	04 Dec 2020 12:27
Last Modified:	11 Dec 2024 19:35
URI:	http://eprints.lse.ac.uk/id/eprint/107574

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