Economic Statecraft in a Multipolar World, November 3, 2023

In recent decades, economic globalization has led nations to further utilize their economies as tools of geopolitical influence. The United States has employed these tools throughout history as powerful and effective elements of its foreign policy. However, as China’s economic power grows, their own deployments of economic statecraft have attracted closer scrutiny. Moreover, as the world drifts more toward a multipolar geopolitical order, rising powers and their economic influence have and will continue to alter the institutions that govern the world’s economy.

The symposium will evaluate relevant international law considerations to take into account as the world enters a period of uncertainty and change in regard to economic statecraft. Panel discussions will focus on three distinct but intertwined topics. First, the symposium will explore great power competition, with special attention to the strategies employed by China and the United States. Second, we will discuss how countries have leveraged sanctions and export controls to leverage geopolitical aims, with a special focus on Russia and the Ukraine conflict. Finally, we will examine how trade and other economic statecraft tools can encourage global cooperation on climate change and human rights, along with related challenges.

The symposium will discuss the impact of economic statecraft on foreign policy, armed conflicts, and social responsibility initiatives. The symposium consists of a keynote address and three panel experts:

  • Keynote Address, Dr. Matthew Ferchen
  • Panel 1: Economic Statecraft and Current Great Power Competition
  • Panel 2: Economic Statecraft and Social Responsibility
  • Panel 3: Economic Statecraft and Armed Conflict

Agenda:

Friday, November 3, 2023 | Ceremonial Court Room

Breakfast | 8:30-9:00am

Welcome Remarks | 9:00-9:15am

  • William O’Malley, Editor-in-Chief, Maryland Journal of International Law
  • Renée McDonald Hutchins, Dean, University of Maryland Francis King Carey School of Law

Keynote Address | 9:15-10:15am

  • Dr. Matthew Ferchen, Senior Research Scholar in Law and Senior Fellow, Yale Law School

Break | 10:15am-10:20am

Panel 1: Economic Statecraft and Great Power Competition | 10:20-11:50am

The world's leading economies often use their commercial success as a means of geopolitical influence. As the world becomes more developed and interconnected, the deployment of economic statecraft tools will likely become increasingly common. This panel will examine which of these economic statecraft tactics most align with international standards and promote global cooperation, as well as which tactics run afoul of these ideals. The panel will also examine if these tactics vary depending on the countries in question.

  • Scott Anderson, Fellow, Brookings Institution (Zoom)
  • Dr. Anita Kellogg, Assistant Professor, Dwight D. Eisenhower School for National Security and Resource Strategy
  • Caitlin Dearing Scott, Director, International Republican Institute
  • Dr. Matthew Ferchen, Senior Research Scholar in Law and Senior Fellow, Yale Law School
  • Moderated by Professor Maxwell Chibundu, Professor of Law, Business Law Program, International and Comparative Law Program, University of Maryland Francis King Carey School of Law

Lunch | 11:50-12:50pm

Panel 2: Economic Statecraft and Social Responsibility | 12:55-2:25pm

International corporations, and some countries, have placed an increased focus on social responsibility in investing. Accordingly, this panel will focus on whether economic statecraft tactics can foster greater respect for human rights, the rule of law, and the environment. Specifically, the panel will discuss recent efforts on this front, ranging from greater awareness toward forced labor in supply chains to the embrace of clean energy technologies.

  • Nathan Rickard, Partner, Picard, Kentz & Rowe
  • Andrew Spalding, Professor of Law, University of Richmond School of Law
  • Marley Weiss, Professor of Law, University of Maryland Francis King Carey School of Law
  • David Wirth, Professor of Law, Director of International Programs, Boston College Law School (Zoom)
  • Moderated by Professor Robert Percival, Robert F. Stanton Professor of Law and Director, Environmental Law Program, University of Maryland Francis King Carey School of Law

Break | 2:25-2:30pm

Panel 3: Economic Statecraft and Armed Conflict | 2:30-4:00pm

Third parties to a conflict often react to what they view as unjust acts of military aggression through the imposition of sanctions and by giving economic aid to a conflict's victims. The war in Ukraine has been no different, with the United States, the EU, and their allies sanctioning those tied to the Russian state, and providing resources to Ukraine for reconstruction purposes. This panel will focus on the international law implications of these efforts, including debates that surround the extraterritorial application of sanctions deployed at the national level.

  • Christine Abely, Associate Professor of Law, New England Law School
  • Andrew Adams, Partner, Steptoe & Johnson LLP
  • Eric Hontz, Director, CIPE
  • Kathleen Claussen, Professor of Law, Georgetown Law School (Zoom)
  • Moderated by Professor Michael Van Alstine, Professor of Law, Business Law Program, International and Comparative Law Program, University of Maryland Francis King Carey School of Law

Closing Remarks | 4:00 – 4:15 pm

  • Aliana Carson, Executive Articles Editor, Maryland Journal of International Law

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