The New Economic Diplomacy: Decision-Making and Negotiation in International Economic Relations

The New Economic Diplomacy, fifth edition, explores how states conduct their external economic relations, make domestic decisions, negotiate internationally and how these processes interact. It provides the reader with an understanding of - and the means with which to analyse - the processes of decision-making and negotiation in international economic relations and clarifies our understanding of ’economic diplomacy’ and how it can be understood as consisting of ’commercial diplomacy’, ’negotiating international cooperation’, ’economic statecraft’ and ’economic sanctions’.

To capture the emergence of new trends and the intensification of old ones, this new edition focuses on:

• Responses to geopolitics in economic diplomacy
• The intensification of domestic pressures on decision-making in international economic relations
• The weakening of multilateralism and emergence of a multipolar system
• The continued importance of policy processes in responding to these challenges and
• Case studies to illustrate how this economic diplomacy is affected by different domestic and international settings

This book will be of interest to scholars and students of the decision-making processes in foreign economic policy, including those studying international relations, government, politics and economics. It will also appeal to practitioners, those working in NGOs and others wishing to understand how decisions are taken and negotiations conducted.

Stephen Woolcock was formerly Associate Professor in International Relations at the London School of Economics and Political Science, where he taught and researched on international trade and investment as well as economic diplomacy. For twenty years he co-ordinated the Masters course on economic diplomacy. Before joining the LSE Woolcock worked in policy research at the Roya Institute of International Affairs, London. He continues to research and write on trade and economic diplomacy.