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Economic diplomacy is a form of diplomacy that uses the full spectrum of economic tools of a state to achieve its national interests. [1] The scope of economic diplomacy can encompass all of the international economic activities of a state, including, but not limited to, policy decisions designed to influence exports, imports, investments, lending, aid, free trade agreements, among others.
It was originally introduced in 1988 by Robert D. Putnam in his publication "Diplomacy and Domestic Politics: The Logic of Two-Level Games". [1] Putnam had been involved in research around the G7 summits between 1976 and 1979. However, at the fourth summit, held in Bonn in 1978, he observed a qualitative shift in how the negotiations worked. He ...
Another study on global conflict trends detects a temporary decline in protest events after the first wave of lockdowns in March and April 2020 for around six months. Battles events, by contrast, did not decline and even increased in some countries (such as Libya) because armed groups aimed to exploit pandemic-related weaknesses of their opponents.
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. [1]
The New International Economic Order (NIEO) is a set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy. [ 1 ] [ 2 ] The main NIEO document recognized that the current international economic order "was established at a time when most of the developing countries did not ...
Credibility is a key component of coercive diplomacy and deterrence, as well as the functioning of military alliances. Credibility is related to concepts such as reputation (how past behavior shapes perceptions of an actor's tendencies) and resolve (the willingness to stand firm while incurring costs).
Global economic interdependence has grown in the post-World War II period as a result of technological progress (e.g. computerization, containerization, low-cost travel, low-cost communications) and associated policies that were aimed at opening national economies internally and externally to global competition. [4] [5] [6]
Commercial diplomacy is diplomacy that focuses on development of business between two countries. [ 1 ] [ 2 ] It aims at generating commercial gains in the form of trade and inward and outward investment by means of business and entrepreneurship promotion and facilitation activities in the host country. [ 3 ]