economic diplomacy

Now that the once strait-laced communist country has adopted a capitalist economy, it has become a major world business player. China’s rise into a world power came at a time when the US was beginning to wear crutches...

South Korea has enjoyed greatly enhanced international status in recent years...For most of the 20th century, South Korea had never been truly included in the core of global discussions. So the country being picked as the 2010 chair country of the G-20 certainly qualifies as a dramatic turn around.

Whatever the fate of the euro, the prevarication and long arguments over how to help it have damaged the EU in at least four ways...a tardy and muddled response to the euro crisis has greatly tarnished the EU’s soft power and global standing.

In a joint statement issued in Seoul yesterday following a summit held at president's office at Cheong Wa Dae, Prime Minister Sheikh Hasina and Korean President Lee Myung-bak agreed to boost economic ties and cultural exchanges between the two countries.

After months of uncertainty with regard the Greek economy, the May 10 creation of a nearly-$1 trillion emergency funding facility to stabilize the euro gave markets a positive jolt and some reassurance over the short-term future of Greek debt...This recent action is only a temporary solution to the much larger problem of public deficits in Europe, and many long-term concerns remain about the future of the euro and the euro zone.

Belgian Prime Minister Yves Leterme says the creation of a European Union foreign minister — the job currently held by the U.K.'s Catherine Ashton — has freed him up to conduct what he calls "economic diplomacy."

How countries are adapting foreign policy strategies and public diplomacy resources in today's globalized environment. 

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