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1/ What is geo-economic power?
States with underlying capabilities in the form of a large economy, significant commercial and financial size including reserve currency status are more likely to have geo-economic power
States with underlying capabilities in the form of a large economy, significant commercial and financial size including reserve currency status are more likely to have geo-economic power
2/ Geo-economic power is however more than the international distribution of underlying capabilities amongst states
Geo-economic power is also determined by the distribution of economic vulnerability under conditions of asymmetrical interdependence
Geo-economic power is also determined by the distribution of economic vulnerability under conditions of asymmetrical interdependence
3/ Keohane & @Joe_Nye continued Hirschman’s research program in their influential work from the late 1970s
https://www.pearson.com/us/higher-education/program/Keohane-Power-Interdependence-4th-Edition/PGM171836.html
& so did Richard Cooper https://www.degruyter.com/columbia/view/title/548204
https://www.pearson.com/us/higher-education/program/Keohane-Power-Interdependence-4th-Edition/PGM171836.html
& so did Richard Cooper https://www.degruyter.com/columbia/view/title/548204
4/ Increasing returns in markets and the inter-state system create asymmetrical interdependencies & vulnerabilities with geo-political consequences
Privileged actors can threaten exclusion to advantage https://www.cambridge.org/core/books/americas-global-advantage/29F591B11AD3CCFDA25F7ED7D9191B55
Privileged actors can threaten exclusion to advantage https://www.cambridge.org/core/books/americas-global-advantage/29F591B11AD3CCFDA25F7ED7D9191B55
5/ Senior fellow @BrookingsInst @thomaswright08 criticized the liberal institutionalism of Keohane & @Joe_Nye for underestimating the strategic risks of interdependence https://www.tandfonline.com/doi/abs/10.1080/0163660X.2013.861706
6/ Within this asymmetrical structure, geoeconomic power is the ability to mobilize capabilities to exert power in a specific relationship. Distinct geo-economic strategies have been introduced by @Mwigell https://link.springer.com/article/10.1007/s10308-015-0442-x
7/ Since geoeconomic power is exerted in a particular relationship where context-specific capabilities/resources apply, small states sometimes wield significant leverage
In the area of oil & finance, see @b_momani & @matteolegrenzi https://www.routledge.com/Shifting-Geo-Economic-Power-of-the-Gulf-Oil-Finance-and-Institutions/Momani-Legrenzi/p/book/9781138261358
In the area of oil & finance, see @b_momani & @matteolegrenzi https://www.routledge.com/Shifting-Geo-Economic-Power-of-the-Gulf-Oil-Finance-and-Institutions/Momani-Legrenzi/p/book/9781138261358
7/ @markhleonard @ecfr introduced the weaponization of interdependence for political gain
A big 2016 geo-economic report discusses how international institutions; trade, finance; the infrastructure of the internet; and migration flows are weaponized https://www.ecfr.eu/publications/summary/connectivity_wars_5064
A big 2016 geo-economic report discusses how international institutions; trade, finance; the infrastructure of the internet; and migration flows are weaponized https://www.ecfr.eu/publications/summary/connectivity_wars_5064
7b/ The edited report features contributions by @anubradford @ianbremmer @bencaldecott @SDullien @goldthau @paragkhanna @hanskundnani @DLinDC @DrClaraPortela @JamesGRickards @MoritzRudolf @StephenFSzabo & others https://www.ecfr.eu/publications/summary/connectivity_wars_5064
8/ @JCZarate1's “Treasury’s War” shows how the US targets the financial networks of rogue states, terrorists and criminals https://www.amazon.com/Treasurys-War-Unleashing-Financial-Warfare/dp/161039464X/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=
9/ @henryfarrell & @ANewman_forward discuss how the US weaponizes financial telecommunication & internet networks https://www.mitpressjournals.org/doi/abs/10.1162/isec_a_00351?journalCode=isec
10/ Their approach is different from @sarahbauerle @thoatley @whinecough who demonstrate how US centrality in banking & finance derives from economic relationships and network structure https://www.cambridge.org/core/journals/perspectives-on-politics/article/political-economy-of-global-finance-a-network-model/216141C1F208F108A1E10201ACF860A3
11/ Not just the US but also China is leveraging its growing geoeconomic power via financial networks.
See @m_huotari @merics_eu & @sandraheep https://link.springer.com/article/10.1007/s10308-015-0444-8
See @m_huotari @merics_eu & @sandraheep https://link.springer.com/article/10.1007/s10308-015-0444-8
12/ The big push forward for geoeconomics is promising, especially as it connects with geopolitics
See Blackwill & @jennifermharris
https://www.cfr.org/book/war-other-means
& @anttovihma
https://www.tandfonline.com/doi/pdf/10.1080/14650045.2017.1302928?casa_token=jnwbUivrVBYAAAAA:M-M1ieBplzgc1gRgVy9X49VipHco5LE3H6n_AoeojOHWJ5C_DYTiTWqLDocDiG0XeuNa85yL7b1i
& @kjmcinnis1 @martyaweiss
https://crsreports.congress.gov/product/pdf/IF/IF11127
See Blackwill & @jennifermharris
https://www.cfr.org/book/war-other-means
& @anttovihma
https://www.tandfonline.com/doi/pdf/10.1080/14650045.2017.1302928?casa_token=jnwbUivrVBYAAAAA:M-M1ieBplzgc1gRgVy9X49VipHco5LE3H6n_AoeojOHWJ5C_DYTiTWqLDocDiG0XeuNa85yL7b1i
& @kjmcinnis1 @martyaweiss
https://crsreports.congress.gov/product/pdf/IF/IF11127
13/ The geoeconomic revival is important because the logic of geoeconomics and geopolitics is different … even as geoeconomics has geopolitical consequences
See @Mwigell & @anttovihma https://academic.oup.com/ia/article-abstract/92/3/605/2326953?redirectedFrom=fulltext
See @Mwigell & @anttovihma https://academic.oup.com/ia/article-abstract/92/3/605/2326953?redirectedFrom=fulltext
14/ Coming soonish ⇢
A geoeconomic world order?
A geoeconomic world order?
