Economics as an instrument of Foreign Policy
Diplomacy and military power are the most common and direct means to project American influence internationally but American economic power potentially produces the long-lasting influence and impact. Traditionally, economic power leverages a nation’s wealth to influence the behavior of others. Our interpretation of economic power includes sanctions, tariffs/taxes, trade policies, economic coercion, and economic aid. These elements are limited means to influence allies and adversaries. With a globally connected world, "traditional" elements of economic power become less influential. Countries are more inclined to turn their backs on international norms and instead worry about bolstering their own internal economic advantages. Instead of an international community in lock step, countries are more apt to work in their singular self-interest. This is evident in how China continues to placate North Korean aggression and maintain economic ties even though there are significan