Conceptualizing China’s economic diplomacy: Conversion between wealth and power
This chapter first summarizes and assesses different concepts of economic diplomacy, which serve as a basis for the author’s proposal for a new approach. Second, it analyses the major difficulties facing China’s economic diplomacy practices and puts forward a new concept of economic diplomacy – the conversion between wealth and power. Third, the chapter elaborates upon the strategies and institutions of wealth-power conversions. Finally, a future research agenda for China’s economic diplomacy is suggested.