Zoom details

us02web.zoom.us/j/89574660483
Webinar ID: 895 7466 0483

How do governments manage trade as a tool of diplomacy and commerce? This dual nature of trade policy requires calibration within domestic decision-making institutions and global governance. Going too far in either direction – using trade to advance foreign policy goals or to maximize income — could stifle growth or heighten security risks. The long history of “Rich nation, strong army” as a development mantra and weaponized interdependence as a coercive tactic have gained new prominence amid the US-China rivalry. The leading organization for economic governance, the World Trade Organization, struggles to address demands for national security exceptions to free trade rules. This lecture explores economic security as a concept, and examines the conditions that shape the practice of economic statecraft. Historical cases show that political interests and status ideas influence why some industries are deemed strategic for national interest. A cross-national comparison highlights that the nature of the political system and interstate rivalries shift how governments balance the weight of diplomacy and commerce in the design of trade policy. Statistical analysis of multilateral cooperation also reveals both formal and informal pathways through which economic and security interests determine which states cooperate. While economic diplomacy contributes to the balance of power between states, the structure of domestic and international institutions — not military strategy and threats — determine how states use this power.