An Overview of Economic Security (4): Economic Statecraft for Economic Security #1 (Presentation)

The international economic order surrounding Japan has been shaken by the formation of the U.S.-China confrontation, Russia's aggression against Ukraine, the dysfunction of the WTO, and the weaponization of economies.
In this RIETI session series, Hirohide Hirai, special adviser and former Vice Minister for International Affairs in METI, who is in charge of steering Japan's foreign economic policy, through a series of conversations and presentations, will discuss economic security with experts from universities and other institutions engaged in cutting-edge research in Japan and overseas, corporate executives who are dealing with the business scene, and government officials (including former employees) who are familiar with the relevant fields.
Following the first session with Kazuto Suzuki, the second with Nobukatsu Kanehara, the third with Mitsunobu Koshiba, and the fourth with Matthew Goodman, we invited Daleep Singh, the Chief Global Economist and Head of Global Macroeconomic Research at PGIM Fixed Income and Former Deputy National Security Advisor and Deputy Director of National Economic Council for a discussion. Based on his experience working in government agencies such as the White House and the National Security Council, and his experience dealing with global issues as a G20 and G7 Sherpa, he talked about the consideration of the G7's response to sanctions and other measures against Russia after Russia's invasion of Ukraine, as well as the future of economic diplomacy and how to promote economic statecraft. Specifically, he emphasized the importance of each country articulating a doctrine of economic statecraft in the current international situation, which he elaborated on in this presentation.
After the presentation, Hirohide Hirai, who has been at the front lines for numerous global issues, including economic sanctions against Russia, discussed with Mr. Singh the efficacy of economic sanctions by the G7 countries and the need for cooperation with the so-called Global South on the theme of Russia's aggression against Ukraine.

Speaker
Daleep SINGH (Chief Global Economist and Head of Global Macroeconomic Research at PGIM Fixed Income / Former Deputy National Security Advisor and Deputy Director of National Economic Council)

Commentator
HIRAI Hirohide (Consulting Fellow, RIETI / Special Advisor, Former Vice-Minister for International Affairs, METI)

Moderator
FUKUOKA Noriyoshi (Consulting Fellow, RIETI / Principal Deputy Director, Trade Policy Bureau, METI)