The New Economic Diplomacy

This third, fully updated edition of The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically; how they negotiate internationally; and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and 2000s in response to the end of the Cold War, the advance of globalization and the growing influence of non-state actors such as private business and civil society.

The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically; how they negotiate internationally; and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and early 2000s in response to the end of the Cold War, the advance of globalisation and the growing influence of non-state actors like private business and civil society. Fully updated, the second edition reflects the impact of the campaign against terrorism, the war in Iraq and the rise of major developing countries like China and India.Based on the authors' own work in the field of international political economy, it is suitable for students interested in the decision making processes in foreign economic policy including those studying International Relations, Government, Politics and Economics but will also appeal to politicians, bureaucrats, business people, NGO activists, journalists and the informed public.

The book integrates a full academic and theoretical analysis with the experience of senior practitioners in economic diplomacy and is based on the authors' work in the LSE's graduate programme on "The Politics of the World Economy."

The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically, how they negotiate internationally, and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and 2000s in response to the end of the Cold War, the advance of globalization and the growing influence of non-state actors such as private business and civil society. Fully revised, this third edition brings economic diplomacy up to date to reflect the rise of the emerging powers and the impact of the recent financial and economic crises. Based on the authors' work in the field of international political economy, it is suitable for students interested in the decision making processes in foreign economic policy including those studying international relations, government, politics and economics but will also appeal to politicians, bureaucrats, business people, NGO activists, journalists and the informed public.

The European Union is a key player in international economic relations, but its exact role and how it goes about making decisions and negotiating is often poorly understood within and especially outside the EU. When does the EU play a proactive role and when does it follow? When is the EU a distinct actor and when is it just one level in a multi- level process of negotiation in which the member states are the main actors? Does the EU possess normative power in external economic relations? Does the EU have the capability and willingness to use its still significant economic power? European Union Economic Diplomacy provides the first comprehensive analysis of the factors that determine the role of the EU in economic diplomacy. In an up-to-date treatment that includes consideration of the impact of the Treaty of Lisbon, it contains a comprehensive explanation of decision making and negotiating processes in the core areas of trade, financial market regulation, environmental diplomacy and development co-operation. The book is intended for those interested in EU policy making, but also those who simply need to understand how the EU functions in the field of economic diplomacy.

This book aims to identify what components are needed for economic diplomacy in today’s rapidly changing world, looking at the nature, focus and tenets of economic diplomacy, and the differences between economic diplomacy and commercial diplomacy. Further, it considers the new kind of diplomacy that will be required for emerging markets, in contrast to maintaining the traditional techniques used for economic diplomacy between states. The author emphasises the negotiating techniques necessary for successfully engaging in economic diplomacy in the current diplomatic atmosphere. Importantly, it also discusses how to pursue economic diplomacy at international fora and with regard to private foreign investments. Lastly, it addresses the role of non-governmental organisations in economic diplomacy. Given its scope, the book will benefit not only practicing diplomats, but also graduate students.

Economic diplomacy was declared in 2013 by Beijing as a priority in its "comprehensive" strategy for diplomacy. The political elite undertook to further invest in economic diplomacy as an instrument for economic growth and development. Globally, Chinese cooperation in multilateral economic processes has become critical to achieving meaningful outcomes. However, little understanding exists in current literature on the factors and mechanisms which shape the processes behind China’s economic diplomacy decision-making. Chinese Economic Diplomacy provides an understanding of the processes and practices of China’s economic diplomacy, with multilateral economic negotiations as the primary basis of analysis, specifically the UN climate change talks and the WTO Doha Round trade negotiations. It examines how early economic diplomacy in global governance contributed to the varied and evolving nature of its present-day decision-making structures and processes. Demonstrating how China’s negotiation preferences are driven by networks of political actors in formal and informal domestic and systemic environments, it also highlights the capacity of international negotiation practices to alter and re-shape China’s approach to multilateral economic negotiations. As a consequence, the book presents a framework for understanding China’s economic diplomacy decision-making processes that is systemically constructed by domestic and international agencies. Offering a Chinese perspective of the notion of economic diplomacy, this book will be of interest to students and scholars of Chinese Economics, International Relations and Political Economy.

The book presents an overview of the general aspects of trade uncertainty, a central element in the analysis of economic diplomacy, illustrating that some instruments, such as sanctions (both positive and negative), increase trade uncertainty, whilst others - multilateral trade policy, for instance - aim to reduce this uncertainty. Commercial policy and bilateral economic diplomacy are explored, and economic sanctions analysed. An extensive review of the literature and empirical investigations of 161 sanctions and the commercial relationships of 37 countries provide topical and empirical perspectives on how international diplomacy may both be a cost and a benefit of the key drivers of productivity growth. Finally, policy conclusions are drawn, and a future research agenda presented.