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Economic Diplomacy in a Changing World

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Chapter Summary

This chapter stresses the importance of economic diplomacy in international policy-making. It elaborates on the global challenges that we face in the coming years. Solving these challenges has become complicated as a result of the rebalancing act from the West towards the East. The challenges touched upon here are issues such as the aftermath of the 2008-2009 global financial crisis, guarding the multilateral system, the decreasing power of the Netherlands, and securing food and raw materials. Solutions to these challenges can be found in increasing our understanding of our new partners and using economic diplomacy more frequently in an intelligent way. The first section of the chapter starts by defining economic diplomacy in our work; the second section discusses the main changes in the environment in which economic diplomacy is conducted; the third section describes the challenges for economic diplomats; and the final section gives our conclusions.

Keywords:economic diplomacy; economic diplomats; global challenges; global financial crisis; Netherlands



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