You can watch the recording of the event below.
The international system is moving rapidly towards a geoeconomic world order, characterized by the broad use of economic tools to achieve strategic and security goals. Economic interdependencies are being weaponized for power-political ends, feeding a geoeconomic chain reaction with states applying broader trade controls, investment screening and data localization measures out of concern for their economic autonomy. The coronavirus pandemic has heightened these concerns. While the precise contours of this emerging geoeconomic order are far from clear, it is thus catalyzing an increased convergence between security and economic thinking, putting pressure on the laws and institutions that govern the international economy.
The FIIA Forum discussed these new geoeconomic developments. How does geoeconomics manifest itself in the strategies and relations between actors such as China, the European Union, Russia and the United States? What are the consequences for the future of global economic governance? How should states and businesses adapt to this new order? What is the future for the international trade regime and financial system? Can the geoeconomic chain reaction somehow be managed?
Thomas Wright, Director, Center on the United States and Europe, Brookings Institution
Victor do Prado, Director, Council and Trade Negotiations Committee, World Trade Organization (WTO)
Carla Norrlof, Visiting Research Professor, FIIA
Mikael Wigell, Programme Director, FIIA
Chair: Mika Aaltola, Director, FIIA
Read FIIA Working Paper published 30 September: The emergence of strategic capitalism: Geoeconomics, corporate statecraft and the repurposing of the global economy.