Economic diplomacy
[3] Economic diplomacy is traditionally defined as the decision-making, policy-making and advocating for the sending state's business interests.
Versatility, flexibility, sound judgment and strong business skills are all needed in the execution of economic diplomacy.
This new approach involves an analysis of a nation's economy, taking into account not only its officially reported figures but also its gray, or unreported, economic factors.
When all economic factors are considered, the so-called "poorest" nations are demonstrably healthier and thus more attractive to investment than the raw statistics might otherwise show.
Brazil has made it a priority to be a leader in sharing technological knowledge in areas such as education and the all important agricultural sector.
The ABC has the mandate to negotiate, coordinate, implement and monitor technical cooperation projects and programs with countries, primarily in the developing world, that Brazil has agreements with.
South-South cooperation contributes to consolidating Brazil’s relations with partner countries as it enhances general interchange; generates, disseminates and applies technical knowledge; builds human resource capacity; and, mainly, strengthens institutions in all nations involved.
Taking these goals into account, ABC has defined focal partners that include African Portuguese-speaking countries (PALOPs), East Timor, Latin America and the Caribbean.
The ultimate goal of technical cooperation – exchanging experiences and knowledge – materializes reciprocal solidarity among peoples and does not only benefit recipient countries, but Brazil as well.
"[6] The ABC is a primary example of how Brazil is using economic diplomacy to fit into its larger national strategy of providing leadership in the developing world.
US-based think-tank CSIS has stated that China's willingness to use bring in warships during trade disputes is reminiscent to an earlier era of American gunboat diplomacy.
[13] Kazakhstan hosted a South-South Development Exchange on Economic Diversification and Industrialization in Africa with 43 African governments.
If people don’t believe that democracy and free markets deliver, then they’re going to be looking elsewhere for models that more readily respond to their daily needs.Secretary Clinton saw pursuing mutually beneficial trade between the United States and other areas of the world as central to the American diplomatic agenda.
In his best-selling semi-autobiographical book, Confessions of an Economic Hit Man, John Perkins, a US ex-economic diplomat, describes what he calls a system of corporatocracy and greed as the driving forces behind establishing the United States as a global empire, in which he took a role as an economic hit man to expand its influence.
They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources.
They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization...[16]On Russia: "Even in a U.S.-Russia relationship dominated for decades by politics and security, we are now focused on helping Russia join the World Trade Organization, and we are putting a special premium on protecting freedom of navigation and a rules-based approach to resource development in places like the South China Sea and the Arctic Ocean.
But if you spend weeks arguing about the size of a jar for baby food, that’s not exactly facing up to the potential of the payoff that comes from resolving these issues.
If we want to see democracy take root, which we do, we have to bring advanced tools to bear to help countries reform economic systems designed to keep autocrats and elites in power.
We need a sophisticated effort to integrate the region’s economies, to promote investment, and to assist in economic modernization.
This new perspective became official on Oct. 4, 2018, when Vice President Pence spoke out about how China would be pressured by the United States to change its stance on a variety of issues, including discriminatory trade barriers, forced technology transfer between US and Chinese companies, and militarization of outposts in the South China Sea.
For instance, China requires foreign firms to make investments through creating joint ventures with Chinese companies—especially within the telecom, finance and auto industries—and subsequent transfer of technology to the domestic companies.
While some believe that the Trump administration's tariffs on China may help defend American economic interests, others argue that it would escalate trade barriers between these nations and cause negative effects within the US.
According to Forbes, US tariffs might be raised to impact over $200 billion worth of imports, including consumer goods and smart products (LEDs, thermometers).
According to Manila, Chinese Vessels now block the entrance to the lagoon, preventing any Philippine ships from entering,[23] in another example of China using coercive economic diplomacy.
