New Economic Statecraft

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 *