New Economic Statecraft

This book provides insights on the art of governing a state and managing its external relations from a wealth-power logic. It looks at "economic statecraft" which consists of wealth production, wealth mobilization and wealth-power conversion by a state.

Zhang Xiaotong is Professor of Institute of Belt and Road Initiative & Global Governance, Fudan University, Shanghai, China. He is a Researcher at Wuhan University Centre for Economic Diplomacy. He obtained a PhD in political science from Université Libre de Bruxelles (ULB) in Belgium.

Contents Acknowledgement * Introduction * 1 Economic Statecraft - Concepts and Theories * 1.1 Economic Statecraft as a Concept * 1.1.1 The origin of economic statecraft as a concept * 1.1.2 "Economic statecraft" versus "economic diplomacy" * 1.1.3 Analysis and critique of the concept of economic statecraft * 1.1.4 Reconstruction of the concept of economic statecraft * 1.2 The Theoretical Construct of Economic Statecraft * 1.2.1 Theoretical assumptions. * 1.2.2 The main actor of economic statecarft. * 1.2.3 Steps and methods of implementing economic statecraft * 1.2.4 Academic and theoretical standing of economic statecraft * 2 Paradigm Shifts in Economic Statecraft Over Time * 2.1 The Age of Classical Mercantilism (15th-18th centuries) * 2.2 The Age of Classical Liberalism (1846-1870) * 2.3 The Age of Imperialism (1870-1914) * 2.4 Marxism * 3 America's Economic Statecraft * 3.1 American Economic Statecraft in the Context of British Hegemony (1775-1898) * 3.1.1 Founding of the United States of America * 3.1.2 Continental Empire (1815-1850s) * 3.1.3 Civil War and Overseas Empire (1860/65-1898) * 3.2 American Economic Statecraft in the Context of U.S. Hegemony * 3.2.1 Rise to U.S. hegemony (1898-1913) * 3.2.2 Triumph of U.S. hegemony (1914-1945) * 3.2.3 Maturing of U.S. hegemony (1945-1967/73) * 3.2.4 Decline of U.S. hegemony (1967/73-2001/08) * 3.3 U.S. Economic Statecraft in the Context of the Rise of Other Great Powers (2008-2020) * 3.3.1 U.S. economic statecraft under president Obama (2008-2016) * 3.3.2 U.S. economic statecraft under president Trump (2016-2020) * 3.4 Paradigm Shift in U.S. Economic Statecraft: Pendulum Between Liberalism and Mercantilism * 3.4.1 The dilemma of de-globalization * 3.4.2 The dilemma of the U.S. hegemony * 3.4.3 The dilemma of U.S. domestic politics * 4 The EU's Economic Statecraft * 4.1 Inherent Deficiencies in the EU's Implementation of Economic Statecraft and the EU's Innovative Solutions * 4.2 Updating the EU's Economic Statecraft "Toolbox" since 2020 * 4.2.1 Promote the further instrumentalization of military and economic power to create a "Europa Geopolitica". * 4.2.2 Promote a "sovereign Europe" and protect the "economic sovereignty" of Europe. * 4.2.3 Promote the "geoeconomic Europe" agenda by vigorously implementing economic diplomacy. * 4.2.4 Economic coercion is an increasingly-important tool in the EU's economic statecraft. * 4.3 The History of EU Foreign Policy from the Perspective of Economic Statecraft * 4.3.1 The foundation of European power (1950-1967) * 4.3.2 The "upward spiral" of European power (1967-2008) * 4.3.3 Decline of European power (Since 2008) * 5 China's Economic Statecraft under Xi Jinping * 5.1 What was president Xi's Economic Statecraft in His First Term (2012-2017)? * 5.2 What was president Xi's Economic Statecraft in His Second Term (2017-2022)? * 5.3 Conclusion and Future Scenarios * 6 Competing Economic Statecrafts * 6.1 The Change of "the Spirit of the Times" * 6.2 The Manifestations of Competing Economic Statecrafts and Consequences * 6.3 Competing Thoughts behind Competing Economic Statecrafts *