Asan Plenum

Session: Plenary Session III
Date/Time: April 25, 2018 / 09:00-10:30

Choi Byung-il, Ewha Womans University

Fukagawa Yukiko, Waseda University
Peter Harrell, Center for a New American Security
Yukon Huang, Carnegie Endowment for International Peace
Walter Russel Mead, Hudson Institute; Bard College
Benn Steil, Council on Foreign Relations

Panel Description
Geoeconomics is the use of economic tools to advance geopolitical objectives. It is anathema to the LIO, which is based on de-linking ideological, national security, and political issues from economics and trade. However, in this era of rising illiberalism, nations are increasingly relying on economic measures such as trade policies, financial sanctions, and selective resource allocation to influence international affairs. In Korea, the dispute over the THAAD missile defense system led to an economic boycott from China, resulting in billions of dollars of lost revenue for Korean companies. In Europe, reliance on Russian gas gives Moscow immense economic leverage over the political decisions of its rivals. Is geoeconomics an inevitable feature of the global order, liberal or otherwise, or are we witnessing a rise in the deployment of geoeconomic “weapons” that will lead to the erosion of the LIO?