page_title: Economic diplomacy
section_title: Secretary Clinton's regional economic diplomacy strategies
hierarchical_section_title: Economic diplomacy / Strategies by states / United States / Secretary Clinton's regional economic diplomacy strategies
caption_attribution_description: English: U.S. Secretary of State Hillary Rodham Clinton addresses the media after presiding over a meeting with U.S. Defense Secretary Leon E. Panetta, Filipino Foreign Affairs Secretary Albert del Rosario, and Filipino Defense Secretary Voltaire Gazmin at the State Department in Washington, D.C., April 30, 2012.
context_page_description: Economic diplomacy is a form of diplomacy. Economic diplomacy is the use of the full spectrum economic tools of a state to achieve its national interests. The scope of economic diplomacy can encompass the all of the main international economic activities of a state including, but not limited to, policy decisions designed to influence exports, imports, investments, lending, aid, free trade agreements, etc.
  Economic diplomacy is concerned with economic policy issues, e.g. work of delegations at standard setting organizations such as World Trade Organization. Economic diplomats also monitor and report on economic policies in foreign countries and give the home government advice on how to best influence them. Economic diplomacy employs economic resources, either as rewards or sanctions, in pursuit of a particular foreign policy objective. This is sometimes called "economic statecraft".
context_section_description: On Russia: "Even in a U.S.-Russia relationship dominated for decades by politics and security, we are now focused on helping Russia join the World Trade Organization, and we are putting a special premium on protecting freedom of navigation and a rules-based approach to resource development in places like the South China Sea and the Arctic Ocean."
  On Europe: "Together, America and Europe account for half of the world’s economic output, but just one-third of global trade. We can and we should be trading more. At the Transatlantic Economic Council, too often we re-litigate regulatory differences when we ought to be resolving them and avoiding new ones. And this frustrates companies on both sides of the Atlantic. The Transatlantic Economic Council is the forum where we try to resolve these differences, and I believe harmonizing regulatory schemes between the United States and the EU is one of the best ways we can both enhance growth, enhance exports, and avoid duplicative costs. But if you spend weeks arguing about the size of a jar for baby food, that’s not exactly facing up to the potential of the payoff that comes from resolving these issues."
  On China: "We also need to promote the free flow of capital, too. Investment in both directions, backed by well-enforced rules, is vital to creating growth and jobs here at home. For example, last year, the Kentucky-based company that owns KFC and Pizza Hut, two iconic American brands, actually made more money selling pizza and fried chicken in China than in the United States. But this creates jobs at headquarters in Louisville and it creates jobs as well in China. When Tom Friedman warns that the Chinese will “eat our lunch,” I'm not sure that's what he had in mind." 
  On the Middle East: "Consider the transitions underway in Egypt, Tunisia, and Libya. If we want to see democracy take root, which we do, we have to bring advanced tools to bear to help countries reform economic systems designed to keep autocrats and elites in power. And we know that aid alone, no matter how generous, is not enough. We need a sophisticated effort to integrate the region’s economies, to promote investment, and to assist in economic modernization. This is the logic behind the Middle East proposals that the President laid out in May, which I have been urging Congress to support. To succeed, the Arab political awakening must also be an economic awakening."
  On Latin America: "we are also making it a priority to engage with the Latin American jaguars, if you can call them that, which grew by more than six percent last year. Our free trade agreements with Panama and Colombia move us closer to our ultimate goal of a hemispheric trade partnership reaching from the Arctic to the tip of Argentina."
  On the Pacific Basin: "...we will continue to use the Asia Pacific Economic Cooperation Forum, which President Obama will host next month in Hawaii, to push the envelope on open, free, transparent, and fair trade across the Pacific basin."
caption: Former Secretary of State Hillary Clinton prioritized economic diplomacy during her time at the State Department
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