Economic Statecraft – What do we mean?

February 4, 2013

Secretary Clinton visits Marimekko factory in Helsinki

Secretary Clinton says: “Across the world, increasingly, economics are shaping the strategic landscape… The United States is also strengthening our economic leadership. And we know very well that America's economic strength at home and our leadership around the world are a package deal. Each reinforces and requires the other. This connection between economic power and global influence explains why the United States is placing economics at the heart of our own foreign policy. I call it economic statecraft.”

We are taking action in four key areas: first, updating our foreign policy priorities to take economics more into account; second, turning to economic solutions for strategic challenges; third, stepping up commercial diplomacy -- what Clinton calls jobs diplomacy -- to boost U.S. exports, open new markets, and level the playing field for our businesses; and fourth, building the diplomatic capacity to execute this ambitious agenda.

The new Innovation Center is positioned to be able to build our capacity in economic statecraft. As a physical space where businesses, consumers, strategic thinkers, and government can come together to face the challenges of the 21^st century, the Innovation Center is unparalleled.