The role of economic diplomacy in the new global realities

Abstract

This article examines the role and significance of economic diplomacy in the new global reality.The reference is made to the actualization of the economic diplomacy phenomenon combining "soft" and "hard" ways of influencing foreign policy, in connection with the prevalence of the economic factor in the current system of international relations. Emphasis is placed on the influence of globalization processes as one of the main factors of economic diplomacy actualization as an important instrument of the state's foreign policy at the present stage. The author characterizes the current state of the international system as an alloy of geo-economics and geopolitics or a geo-economic-geopolitical world order that, while preserving the features of traditional geopolitics, adapts to the ever-increasing influence of economic factors in world politics.