4th Edition

The New Economic Diplomacy Decision-Making and Negotiation in International Economic Relations

Edited By Nicholas Bayne, Stephen Woolcock Copyright 2017
    360 Pages 11 B/W Illustrations
    by Routledge

    360 Pages 11 B/W Illustrations
    by Routledge

    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. Although the previous edition, published in 2011, was able to reflect the impact of the financial crisis and the immediate reaction to it, a lot has happened since then, and the atmosphere of economic diplomacy has darkened.

    To capture the emergence of new trends and the intensification of old ones, the salient features of this new edition are:

    • The advance of China and other emerging powers at the expense of G7 governments, despite some setbacks;
    • Much greater activity in negotiating regional and plurilateral trade agreements, while the multilateral system struggles;
    • The persistence of problems exposed by the financial crisis, notably the long-running euro-zone crisis.
    • The interaction between domestic and external forces: the balance has shifted towards the domestic axis, with international agreement more difficult to achieve. This edition goes further in comparing the practice of different players, to reflect the greater diversity of economic diplomacy.

    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. It will also appeal to politicians, bureaucrats, business people, NGO activists, journalists and the informed public.

    1. What is Economic Diplomacy?

    Nicholas Bayne and Stephen Woolcock

    2. Challenge and Response in the New Economic Diplomacy

    Nicholas Bayne

    3. Factors Shaping Economic Diplomacy: an Analytical Toolkit

    Stephen Woolcock

    4. How Governments Conduct Economic Diplomacy in Practice

    Nicholas Bayne

    5. NGOs in Economic Diplomacy

    Duncan Green and Celine Charveriat

    6. Serving the Private Sector: India’s Economic Diplomacy

    Kishan S. Rana

    7. Continuity and Change in the Politics of US Trade Relations with Russia

    Craig VanGrasstek

    8. Conceptualizing China’s Economic Diplomacy: Conversion between Wealth and Power

    Zhang Xiaotong

    9. Brazilian Economic Diplomacy: Agriculture and the WTO Negotiations

    Braz Baracuhy

    10. European Union Economic Diplomacy

    Stephen Woolcock

    11. Economic Diplomacy and Small Developed Economies: the Case of New Zealand

    Vangelis Vitalis

    12. The Economic Diplomacy of Small and Poor Countries in the Global Trading System

    Teddy Soobramanien

    13. Lessons from the G7 and G8 for the G20 Summit

    Nicholas Bayne

    14. Negotiating Preferential Trade Agreements: Motivations and Effects

    Ken Heydon

    15. International Financial Diplomacy and the Crisis

    Stephen Pickford

    16. Climate Change Negotiations: Pushing Diplomacy to Its Limits

    Joanna Depledge

    17. International Investment Negotiations: a Case of Multi-level Economic Diplomacy

    Stephen Woolcock

    18. The Future of Economic Diplomacy

    Nicholas Bayne and Stephen Woolcock

    Biography

    Nicholas Bayne is a Fellow of the International Trade Policy Unit of the London School of Economics and Political Science (LSE), UK, and a former British diplomat.

    Stephen Woolcock is an Associate Professor in the International Relations Department of the LSE, UK. He is the Head of the LSE’s International Trade Policy Unit and course coordinator since 1999 for the master’s option on economic diplomacy that he co-founded with Nicholas Bayne.