Theme Overview
This theme brings together projects and events the explore how governments seek to promote their economic interests abroad (commercial diplomacy); when and how they seek to use economic instruments to achieve political and geopolitical objectives (economic statecraft); and how they seek to reduce their own vulnerability to economic exploitation and coercion (economic security).
Affiliated Projects
China, Chips and Choices: Explaining Variation in the EU’s Geoeconomic Policies on Semiconductors - Alasdair Young and Scott Brown (University of Dundee)
In the past five years or so, the focus of the EU’s economic relations has pivoted from a commitment to efficiency and competitiveness to concerns about resilience and security and to greater willingness to leverage its economic weight. This paper analyzes how this process has played out with respect to two policies that have analytically useful similarities and differences: dual-use export controls on cutting-edge semiconductors and restrictions on the provision of critical 5G telecommunications infrastructure. Both policies deal directly with national security and responsibility for both lies primarily with the member states. They are, therefore, particularly hard cases for the EU to act as a geoeconomic power. While export controls are an offensive measure intended to constrain Chinese military capabilities, limits on Chinese companies’ participation in 5G networks are defensive, seeking to restrict China’s ability to extract information or disrupt critical infrastructure. This paper makes three contributions to the emerging literature on the EU’s geoeconomic turn. First, it draws a distinction between the processes of securitization and geopoliticization and argues that the former is a more powerful consideration than the latter. Second, it draws attention to the importance of perceptions in explaining variation in policy change. It can make these arguments because it considers the absence of European cooperation, not just its presence. Third, it draws attention to the US as an agent, not simply as part of the changed environment to which the EU is reacting.
This project has been presented at:
the University of Trier’s Jean Monnet Webinar Series “EU Trade Policy and the Rise of Geopolitics,” 6 November 2024.
the European Consortium for Political Research’s Standing Group on the European Union Conference, 19 – 21 June 2024, Universidade NOVA, Lisbon
the Exploratory Workshop: The Deep Structure of Transatlantic Relations: Diversity and Complementarity, Technical University of Munich, 7-8 June 2024.
It is supported by the Neal Family Endowment.
Associated Events
“The Dollar’s Challenged Role in the World” Symposium will be held on February 13, 2025.
Since the end of the Second World War the US dollar has played a central role in the global economy. During the 21st century the US government has extensively leveraged the associated importance of the US financial system to secure foreign policy objectives. That activity and concerns about US fiscal responsibility have recently prompted other governments and non-state actors to seek alternatives to the dollar and to the US financial system. This half-day symposium will explore how the US has used the dollar and the US financial system as a source of power and assess the challenges to the continued centrality of the dollar and the US financial system and consider what that means for US power. This event is being supported by the Arthur M. Blank Family Foundation and the Neal Family Endowment.
“The Political Vulnerability of Economic Interdependence” Symposium on March 11, 2024. The Symposium considered how different governments make use of economic statecraft.
US: Peter Harrell, nonresident fellow at the Carnegie Endowment for International Peace and former Senior Director for International Economics, jointly appointed to the National Security Council and the National Economic Council
EU: Alasdair Young, Professor and Neal Family Chair, Sam Nunn School of International Affairs, Georgia Institute of Technology
China: Dalton Lin, Assistant Professor, Sam Nunn School of International Affairs, Georgia Institute of Technology
Canada: Amb. Louise Blais, Diploma-in-Residence and former Canadian Deputy Permanent Representative to the United Nations and Consul General of Canada in Atlanta
UK: Amb. Rachel Galloway, British Consul General in Atlanta
Japan: Kazuto Suzuki, Professor, Graduate School of Public Policy, University of Tokyo, and Director, Institute of Geoeconomics at International House of Japan
It was supported by the Neal Family Endowment and the General Raymond G. Davis Endowment.
“Enhancing Economic and Commercial Diplomacy for Today’s Global Challenges” Symposium on November 8, 2023.
It consisted of three panel discussions:
Peter Carter, Delta’s Executive Vice President – External Affairs
Clyde Tuggle, Co-Founder and Founding Partner of Pine Island Capital Partners and former Senior Vice President of Global Public Affairs and Communications at the Coca-Cola Company
William Reinsch, Scholl Chair in International Business at the Center for Strategic and International Studies
Lawrence Silverman, Diplomat-in-Residence in the Sam Nunn School of International Affairs and was U.S. Ambassador to Kuwait
Alice Albright, Chief Executive Officer of the Millennium Challenge Corporation
Peter Harrell, nonresident fellow at the Carnegie Endowment for International Peace and former Senior Director for International Economics, jointly appointed to the National Security Council and the National Economic Council
The event was supported by the Arthur M. Blank Family Foundation and Bank of America.
Program Director
Dr. Alasdair Young
Professor and Neal Family Chair, Sam Nunn School of International Affairs
E-mail: alasdair.young@inta.gatech.edu