Broadly, geoeconomics (sometimes geo-economics) is the study of the spatial, temporal, and political aspects of economies and resources. The formation of geoeconomics as a branch of geopolitics is often attributed to Edward Luttwak, an American economist and consultant, and Pascal Lorot, a French economist and political scientist. Azerbaijani economist Vusal Gasimli defines geo-economics as the study of the interrelations of economics, geography and politics in the "infinite cone" rising from the center of the earth to outer space (including the economic analysis of planetary resources).
Geoeconomics superseding geopolitics?
At the end of the Cold War, Richard Nixon predicted that geoeconomic considerations could eventually supersede classical geopolitics amongst US policy makers, a trend he viewed as problematic: “Still others contend that, as the cold war weaned, the importance of economic power and ‘geo-economics’ has surpassed military power and traditional geopolitics. America, they conclude, must beat its swords not into plowshares, but into microchips.” (Nixon 1992).
“The laws of geo-economic gravity”
World Pensions Council financial economist M. Nicolas J. Firzli has argued that “the laws of geo-economic gravity” including financial self-sufficiency and the existence of advanced, diversified transportation infrastructure are essential to ensure the effective sovereignty of a state: "the government of Qatar is now paying an incommensurate price for having thought it could defy forever the laws of geo-economic gravity "
From that perspective, investment attractiveness and the capacity to project soft power across considerable distance as China has done through its Belt and Road Initiative are also viewed as a key determinants of geo-economic strength.
- Solberg Søilen, Klaus (2012). Geoeconomics. Bookboon, London. http://bookboon.com/en/textbooks/economics/geoeconomics.
- Ankerl, Guy (2000). Coexisting Contemporary Civilizations: Arabo-Muslim, Bharati, Chinese, and Western. INUPress, Geneva. ISBN 2-88155-004-5
- Gasimli, Vusal (2015). Geo-economics, Anadolu University, Turkey, 207 p. (http://sam.az/uploads/PDF/Geo-Economic.pdf)
- Chohan, Usman W. (2015). Geostrategic Location and the Economic Center of Gravity of the World. McGill University, Canada.
- Blackwill, Robert D., Harris, Jennifer M. War by Other Means: Geoeconomics and Statecraft. Harvard University Press. Cambridge, MA. ISBN 9780674737211
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- Firzli, M. Nicolas J. (17 June 2017). "The Qatar Crisis and the Eastern Flank of the MENA Area". Al Sharq Al Awsat. Riyadh. Retrieved 16 August 2017.
- Firzli, M. Nicolas J. (7 July 2017). "G20 Nations Shifting the Trillions: Impact Investing, Green Infrastructure and Inclusive Growth" (PDF). Revue Analyse Financière. Paris. Retrieved 7 July 2017.
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