ABSTRACT

Economic diplomacy is comprised of the actions of state and/or business actors to produce an overall favourable business climate in a nation-state. The intersection of diplomacy and economics has strong historical ties with the roots of diplomacy in the protection of economic interests. Relationships between nation-states can deeply affect economic interests of a nation as we can see in U.S.-Chinese relations and also U.S.-Canadian relations since the arrest of Chinese Huawei executive Meng Wangzhou. This chapter explores the role of the Royal Bank of Canada in expanding economic and diplomatic ties between Cuba and North America and the role that businesses, like banks, play in promoting healthy market economies to sustain their own interests. The Letter actively promoted capitalistic themes in support of the promotion of free market enterprise.