Economacy Strategies for Countries with Crises

Abstract

As part of this thesis, a conceptual and analytic framework for understanding economic diplomacy is presented, so that its missions, tools, and activities are better understood. Economic diplomacy can be conceptually described in several different ways, which involve tools and purposes that are oriented toward economic/commercial or political ends and, thus, more closely aligned with the power play or 'business end' of economic diplomacy. Within the analytical framework of economic diplomacy, the four essential dimensions identifying how historically contingent changes arise are the context, tools, theatres, and processes. There are multiple ways in which these dimensions interact. Through an analysis of these frameworks, the article analyses the foci, assumptions, methodologies and strategic and ideological considerations that underlie industry diplomacy. It also examines the post-modern changes in economic diplomacy in a post-state-to-state world, where traditional state-to-state diplomacy is fragmented and more complex due to the increased participation of non-state actors and other government ministries in international economic relations. As a result, non-state actors such as business diplomats and transnational economic NGOs have contributed to the traditional domain of economic diplomacy with their transnational alliances and pressure groups, thereby, undermining at least some of the sovereign rights of states in international economic relations. Meanwhile, the globalization of the economy and the emergence of international standard-setting organizations have had a significant impact on the business climate, As a result, many countries expect their diplomats specializing in Economic Diplomacy and Commercial Diplomacy to effectively serve their national interests. In addition, I have analyzed certain aspects of the Palestinian economy's difficult situation and considered a number of strategies and policies that can be employed to set it on a path of sustainable growth. During this study, we examined the relations between the Palestinian economy and that of Israel, the Arab world, and other countries. In particular, the study has demonstrated how current patterns may be changed for a more expansive Palestinian economy and to help restructure the economy to engage with global trends. A number of important issues were raised in regard to economic relations between the Palestinian territories and its neighbors, the Arab countries, and Israel. As these relations are normalized, they are expected to act as catalysts for regional economic integration. Which, however, will provide the Palestinian economy with vital, but not sufficient, conditions for integrating into the global economy, there is also a need for an integrated vision and strategy for the private sector to form joint ventures with foreign companies, enter new markets, and adopt new methods of production, marketing, and finance. Economacy Strategies based on an appreciation of the present challenges and opportunities facing the economy and a vision for the global economy of the future, are inspected as well. A brief overview of current trends in the global economy is provided, and questions about the challenges and opportunities facing developing countries seeking integration are explored, along with prospects for the Palestinian economy in major markets. The United States, the European Union, economies and developing countries in transition.