The Increasing Importance of Geoeconomics in Power Rivalries in the Twenty-First Century

Abstract

ABSTRACTRelations between states in the post-Cold War period have been shaped by an increased economic competition including ‘non-market’ factors such as intelligence sharing between state agencies and private businesses, successful economic diplomacy and different techniques to influence and manipulate non-governmental organisations to weaken an economic adversary, among other things. The considerable influence of these non-market factors illustrates the limits of the liberal economic theories that emphasise the dominant role of market forces. Geoeconomics is an interdisciplinary analysis that includes geopolitical factors, economic intelligence, strategic analysis and foresight and has the objective to provide a tool for states and businesses to develop and implement successful strategies to conquer markets, and protect strategic segments of the domestic economy, among other things. This article argues about the growing significance of geoeconomics in contemporary power rivalries, presents some strategic aspects of the role of state in the establishment and coordination of a national geoeconomic disposition, and highlights briefly the importance of the strategic management of information to support geoeconomic strategies. Some arguments of the article ‘Geoeconomic Analysis and the Limits of Critical Geopolitics: A New Engagement with Edward Luttwak’ are briefly discussed as well.