GEOECONOMICS AS A TOOL OF STATE POWER: EXAMINING ECONOMIC INTERDEPENDENCE, STRATEGIC COMPETITION, AND GLOBAL INFLUENCE

Abstract

Geoeconomics has become a critical aspects of state power in terms of economic ties and resource exchanges as countries increasingly rely on this to achieve strategic goals. The aim of this study was to analyze the influence of economic interdependence, geoeconomic tools, strategic competition, and international influence in the current international relations. The study used a qualitative descriptive research design, secondary-source analysis. Thirty scholarly and policy sources were purposefully chosen and coded using a thematic analysis. The results revealed six aspects of geoeconomic power. Geoeconomic instruments and strategic competition were mentioned in 27 sources (90.0%), and economic interdependence and strategic leverage in 24 sources (80.0%). 23 sources mention technology (76.7%) and 22 sources mention global influence via economic partnerships (73.3%) as critical supply chains of these sources.The critical supply chains identified within these sources include technology (23, 76.7%) and the influence of the global market via economic partnerships (22, 73.3%). Trade restrictions were mentioned in 24 sources (80.0%) and export and technology restrictions were mentioned in 23 sources (76.7%). The analysis additionally revealed that trade partnerships extended, technology cooperation emerged, and strategic partnerships in the supply chain emerged in 22 sources (73.3%), 21 sources (70.0%), and 21 sources (70.0%), respectively. The findings here show that states have increasingly become linked to the economic capabilities and strategic goals via policies related to trade, investment, finance, technology, energy, infrastructure and supply-chain. The study shows that economic interdependence can be viewed as a factor of cooperation as well as a tool of strategic leverage, thus geoeconomics growingly becoming a factor in state power and international influence.