Economic Statecraft --- Economic statecraft can take the form of both positive and negative sanctions. Threatened punishments and embargoes, boycotts, blacklists, prohibitive buying, expropriation, punitive taxation, aid suspensions, and asset freezes are all examples of negative sanctions. Positive sanctions, on the other hand, refer to actual or promised benefits such as preferential tariffs, subsidies, foreign aid, investment guarantees, and preferential taxation of foreign investment. According to experts, countries that use aggressive economic statecraft at the core of their foreign policy without clear diplomatic goals, run the risk of inflicting economic pain on other countries, and this, never produce the desired results.

Source author: Matshedisa Emily Mokoena mokoenamati@gmail.com