commodity diplomacy
The term "commodity diplomacy" involves using trade and control over resources to influence international relations and achieve strategic goals.
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Definition
C1International Relations
(technical, academic)The strategic use of a country's goods or resources in negotiations to achieve political or economic objectives.
Example
- The nation employed commodity diplomacy by leveraging its oil exports to negotiate better trade deals.
C1Global Trade
(technical, academic)The practice of using trade barriers and export restrictions to influence the foreign policy of other countries.
Example
- Through commodity diplomacy, the country imposed trade barriers to pressure its neighbor into environmental reforms.
C1Economic Strategy
(technical, academic)Efforts to manage international trade relations and the flow of resources to address global challenges like food security and environmental sustainability.
Example
- Commodity diplomacy played a crucial role in the global effort to ensure food security amidst rising prices.
Similar
Terms that have similar or relatively close meanings to "commodity diplomacy":