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

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Stephen Woolcock (London School of Economics and Political Science, UK.)

The New Economic Diplomacy

Decision-Making and Negotiation in International Economic Relations

Stephen Woolcock (London School of Economics and Political Science, UK.)

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English

Routledge
29 April 2025

Sociology; International relations; Political economy

Series: Global Governance

The New Economic Diplomacy, fifth edition, explores how states conduct their external economic relations, make domestic decisions, negotiate internationally and how these processes interact. It provides the reader with an understanding of – and the means with which to analyse – the processes of decision-making and negotiation in international economic relations and clarifies our understanding of ‘economic diplomacy’ and how it can be understood as consisting of ‘commercial diplomacy’, ‘negotiating international cooperation’, ‘economic statecraft’ and ‘economic sanctions’.

To capture the emergence of new trends and the intensification of old ones, this new edition focuses on:

Responses to geopolitics in economic diplomacy The intensification of domestic pressures on decision-making in international economic relations The weakening of multilateralism and emergence of a multipolar system The continued importance of policy processes in responding to these challenges and Case studies to illustrate how this economic diplomacy is affected by different domestic and international settings

This book will be of interest to scholars and students of the decision-making processes in foreign economic policy, including those studying international relations, government, politics and economics. It will also appeal to practitioners, those working in NGOs and others wishing to understand how decisions are taken and negotiations conducted.

Edited by: Stephen Woolcock (London School of Economics and Political Science UK.)
Imprint: Routledge
Country of Publication: United Kingdom
Edition: 5th edition
Dimensions: Height: 234mm, Width: 156mm,
Weight: 530g
ISBN: 9781032457925
ISBN 10: 1032457929
Series: Global Governance
Pages: 270
Publication Date: 29 April 2025
Audience: General/trade , College/higher education , ELT Advanced , Primary
Format: Paperback
Publisher's Status: Active

1. What is economic diplomacy? 2. An Analytical Tool Kit 3. Economic Diplomacy in Practice 4. Responses to Recent Challenges: China and the West 5. US Economic Diplomacy 6. Conceptualising China’s new economic diplomacy: conversion between wealth and power 7. EU economic diplomacy: A decade of reckoning 8. United Kingdom Trade Diplomacy: lessons from the (re)establishment of an independent trade policy 9. Tax Diplomacy: Kenya’s Engagement in the Inclusive Framework (IF) 10. World Trade Organisation (WTO) Negotiations – how to “get it right” 11. Negotiating Climate Change: The importance of process in multilateral negotiations 12. Negotiating International Economic and Financial Cooperation: The global financial crisis and its aftermath 13. Conclusions

Stephen Woolcock was formerly Associate Professor of International Relations at the London School of Economics and Political Science, where he taught and researched on international trade and investment as well as economic diplomacy. For 20 years, he coordinated the master's course on economic diplomacy. Before joining the LSE, he worked in policy research at the Royal Institute of International Affairs, London. He continues to research and write on trade and economic diplomacy.