Introduction: Now is the Time to Study Economic Diplomacy 

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The birth of modern economics was strongly related to the study of cycles. Economists tried to establish historical cycles, then business cycles and to model even very short-term fluctuations. In the 2000s, the “great moderation” brought about a temporary decline in the interest for longer-term cyclical issues. This was also related to the unipolar moment of US power after the fall of the Soviet Union. The 2008 great financial crisis and the rise of China, however, proved that cycles had not ceased to affect us. The contrary is true: just now, we are witnessing (at least) a rerun of the 1970s with all the implications of energy shocks and geopolitical tensions. Several authors again try to understand cycles; nevertheless, there is a scarcity of studies merging cultural, economic and geopolitical knowledge in this regard. The paper aims to fill this gap by discussing possible interpretations of the current great power dynamics. A complex analysis shows that downward spirals of hegemonic cycles can be escaped. Eurasia as a deep-rooted concept can further catalyse global development and the much-needed cooperative policies towards long-term sustainable growth. The East and the West should be focused on benchmarking the best solutions in the fields of technology, money and the green transition so that a fusion of megatrends benefits each community.
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Long-Term Economic and Geopolitical Cycles: A Compass to Multilateral Cooperation in Our Age

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Russia’s invasion of Ukraine in February 22, 2022 was a major shock for the global economy but also for Asia. Our paper reviews its impact on Asia through different channels, especially trade and finance of. We conclude that the trade and financial impact on Asia, and in particular on China, are much milder than for Europe. That said, the indirect impact, via elevated commodity prices and supply chain disruptions, has clearly had a toll on Asian economies considering their dependence on imports of fossil fuels. We also discuss China’s stance on the conflict, which may be key for its evolution down the road.
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The War in Ukraine: Economic impact on Asia

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Caribbean economic diplomacy is at a crossroad, not knowing where and how to turn. This paper opens an intense discourse on the issues facing the Caribbean economy – the nexus between integration and convergence, the stress and resilience of its economic institutions, as well as the dilemma of leaders in the practice of economic diplomacy. The paper also examines the old and new challenges of global cooperation and the framework of power and geopolitics in the conduct of economic diplomacy in the Caribbean. As the frontiers of Caribbean diplomacy shift, its unique and diverse landscape makes the region an <italic>enigma</italic> with unfolding foreign policy options on a fragile map of the many Caribbeans in one economic space. 
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Economic Diplomacy in the Caribbean

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China’s re-entry into the World Bank (WB) in 1980 was a joint endeavor by WB and Chinese reform-minded leaders. This article gives a chronicle of major events which paved the way for the People’s Republic of China to take over China’s seat in the WB. It describes in some detail the role played by Robert McNamara, Shahid Husain, Edwin Lim and Javed Burki on the WB’s side, and Deng Xiaoping, Gu Mu and the Bank of China on the Chinese side in engineering Beijing’s re-entry and in establishing a relationship with the WB based on mutual trust. It uncovers how the issue of Taiwan’s debt to the WB at the time, a potentially serious obstacle to the PRC’s WB membership, was successfully resolved. The article ends with reflections on China’s engagement with the Bretton Woods System.
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Why and How the People’s Republic of China Entered the World Bank in 1980 and Afterthoughts

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The trajectory of US economic strength relative to China has driven a reassessment of the US’ rules of engagement on trade and investment. China is turning more authoritarian, more focused on self-sufficiency, challenging US dominance in international institutions, global markets, and critical technologies. It selectively honors the market-based rules of the international trade order. Structural features of the Chinese economy and its management blunt the effectiveness of international rules-based trade policy tools. The US, in response, is becoming more aggressive, with protective trade measures and proactive industrial policy. A new cold war is emerging, confounding the broad foundation of collaborative interdependence that vastly accelerating world economic growth for the past 35 years. This paper examines the nature of these shifts and the need for and scope of more constructive economic statecraft by both the US and China in order to build a workable, new rules-based framework for managing international competition and trade that is acceptable to both countries. It contributes a path toward more constructive long-term negotiation as an alternative to an economic cold war.
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US-China Economic Statecraft: Turning Cold War into Negotiation

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Elite global financiers and senior government officials engage in economic diplomacy as they work together to achieve their goals. However, their co-dependent relationship is a source of tension because their goals do not always align. The thesis is that elite financiers and senior government officials mitigate these inherent tensions in their economic diplomacy relationships through building moderate to strong ties with each other. The empirical evidence to examine this thesis comes from interviews with 10 elite financiers in leading global financial centres. Their responsibilities require they interface with senior government officials. The results demonstrate that moderate to strong ties developed in face-to-face meetings between financiers and senior officials comprise crucial mechanisms to manage the tensions in their economic diplomacy
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Working Together: Elite Global Financiers and Senior Government Officials

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Economic Diplomacy

Economic Diplomacy is an international and interdisciplinary journal devoted to research on economic diplomacy. It provides a platform for scholarly analysis addressing the...

Economic Diplomacy is an international and interdisciplinary journal devoted to research on economic diplomacy. It provides a platform for...