July 31, 2021
General News

Power Games – The Statesman

There is not yet an authoritative definition of geo-economics that is clearly distinct from geopolitics. Geo-economics and geopolitics are interdependent. States interact with one another as independent sovereign units while exercising political power and authority. Market dynamics and economic necessities bring them together and make them interdependent.

Economic strength and economic diplomacy have become increasingly important factors in shaping modern international relationships. A country’s economic strength decides the amount of resources a government can command for diplomacy, aid assistance and military spending both in the form of soft power and hard power.

A country’s economic strength is also crucial for building technological capabilities which in turn can be converted into instruments of power. Prosperous and highly developed countries with diversified…

Read full article here: www.thestatesman.com