Geoeconomics in the context of restive regional powers
Geoeconomics
Associated with Luttwak
Detonated the successor system of interstate rivalry after Cold War
Crucial, understudied aspect
Perspective
Geopolitical
Unipolar World = USA undisputed hegemon
Geoeconomic
US Dominance on decline
Rising powers: China, Brazil, India
Emerging powers = Soft Balancing
Liberalism 3.0 (Ikenberry)
Contries like china must accept aspects of a neoliberal world
Geoeconomics tends to be yuxtaposed with geopolitics
Geoeconomics theorizing is still infant
3 recent theoretical approaches
1
2
3
Critical Constructivist Perspective
Economic Geographics Approach
Geoeconomics as a Statecraft
Economic
Financial
Energy
Richard Young
"use of statecraft for economic ends; a focus on relative economic gain and power; a concern with gaining control of resources; the enmeshing of state and business sectors; and the primacy of economic over other forms of security"
View is state-centric
Closest to the traditional view
Related to the more tradicional academic disciplines of political and economical geography that study the effects of geographic features on the organization of politics or the economy
Shows how the economic geography of South America limit Brazil´s sphere of dominance
(Cowen and Smith)
Close connection between political space and understandings of it
Critical Geography camp
How economics operates and becomes entrenched in state practice
Us dominance provides a "new disciplining architecture" for financial and ideological policing, replacing mechanisms of colonial administration
Geoeconomics encompasses a way of being the world in which strategies come to be seen as plausible and desirable
Mikael Wigell
Geoeconomics is the strategic use of economic power
strategic frame (competitive or cooperative)
Economic Power (goal or means)
4 ideal types of strategies
neo-mercantilism
liberal-institutionalism
neo-imperialism
hegemony
In summary
wielding geoeconomic can be more complicated than geopolitical power
intermediate actors needed as geoeconomic means are hard to control and get them to pull in the same direction.
In deepening our understanding of geoeconomics, we need to probe into the interconnections between space, politics and economics