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Ravi Ranjan asked: What is the meaning of geo-economics and geo-strategy? What one means by strategic engagement?

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  • Namrata Goswami replies: Geo-economics is the study of how economics functions in an international environment. It is basically an academic study of the global move of capital, market and labour. The concept of geo-economics thereby interacts with the geographic and demographic aspects of states and consequently influences their own policy with regard to international trade and commerce. Geo-economics also provides us with a list of economic powers; the states with the greatest economic strengths, and how that influences the structure of power. For example, the US as the top economy followed by China as the second largest economy, and how the distribution of economic power informs their politics, etc.

    Geo-strategy is the practical world of policy-making amongst states at the international level. It basically informs states to chart out a strategic course of which policies to undertake in order to improve ones’ own position in the international order. This could include policies to become the world’s pre-eminent power, or to become an economic power or a regional actor. The geographic location of a country plays a critical role in the formulation of geo-strategy.

    Strategic partnership is a partnership between two states in order to support/forward/craft particular goals in the international order. A strategic partnership enables two states to have a common vision towards a particular foreign policy goal. For example, the US and India have a strategic partnership between them. This strategic partnership brings the two countries together on global issues like safeguard of the global commons, the fight against piracy, non-proliferation, high technology cooperation, etc. The strategic partnership framework also offers the guidelines for future policy making on issues of common interest.