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The New Economic Diplomacy: decision-making and negotiation in international economic relations

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Nicholas Bayne and Stephen Woolcock
Ashgate (October 2011) Third Edition

The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically; how they negotiate internationally; and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and 2000s in response to the end of the Cold War, the advance of globalization and the growing influence of non-state actors such as private business and civil society. Fully revised, this third edition brings economic diplomacy up to date to reflect the rise of the emerging powers and the impact of the recent financial and economic crises

Based on the authors' work in the field of international political economy, it is suitable for students interested in the decision making processes in foreign economic policy including those studying international relations, government, politics and economics but will also appeal to politicians, bureaucrats, business people, NGO activists, journalists and the informed public.

  • Sir Nicholas Bayne and Dr Stephen Woolcock are both based in the Department of International Relations at LSE.

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'The 2011 edition of The New Economic Diplomacy captures a period of major transformations in international relations. Emerging powers - like China, Brazil, and India - start to reshape the geopolitical and multilateral landscapes; their rise has unveiled the urgent need for reforming the rules and structures of global governance. Combining academic rigor and practical diplomatic experience, the book is an indispensable contribution to the study of economic diplomacy and negotiations.'
Ambassador Celso Amorim, Brazilian Minister of Foreign Relations (2003-2010)

'The 2007-2009 crisis brought international economic negotiation back into the spotlight, and this interesting book helps us understand the agreements and the stalemates. It stands out by supplementing academic insights with voices of economic diplomats themselves in governments, international institutions, and NGOs. I recommend it highly as a text for MA and advanced undergraduate courses on the world political economy.'
John Odell, University of Southern California, USA

The New Economic Diplomacy