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A geoeconomic alliance: The potential and limits of economic statecraft | U.S. Studies Center - Sydney |

  • This report examines the potential and limits of geoeconomic statecraft in the context of the Australia-US alliance.

  • A shift in alliance strategy towards China, from engagement to strategic rivalry and competition, has reframed international and domestic economic policy settings in light of the security concerns presented by China's growing power and influence.

  • China's use of geoeconomic policy instruments has become a major concern for Australian policymakers. However, its use of economic statecraft has mostly been counter-productive in advancing its geopolitical interests.

  • Australia and the United States have increased cooperation in some geoeconomic policy areas -- most notably in relation to defence industry, technology and critical minerals -- but geoeconomics remains an underdeveloped element of the alliance relationship, reflecting its foundations in a security treaty that is silent on economic issues.

Introduction

    Nothing would better promote America's geoeconomic agenda and strategic future than robust economic growth in the United States.

    ...foreign trade enhances the potential military force of a country.

    International economic exchange is one of the most spectacularly successful examples of international influence in history; yet it is rarely so described. Why? Because routine, mundane, day-to-day economic exchange is often defined as either not involving power or not being `real' foreign policy.

Policy issues at the intersection of international security and international economics loom increasingly large for Australian and US policymakers. Geoeconomic statecraft is the use of economic policy instruments to further geopolitical, foreign policy and security objectives. A shift in alliance strategy towards China, from engagement to strategic rivalry and competition, has reframed international and domestic economic policy settings in light of the security concerns presented by China's growing power and influence.



'Sapere aude'
by Oui (Oui) on Mon Mar 21st, 2022 at 08:40:34 AM EST
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