Economic Diplomacy Boom: Will It Last Long?

... commitment to the ideals of private gain and consumption, quite apart from the political regime’s readiness to consult private interests of its citizens. In this regard, society in different countries differs greatly, and a prime example of this is Cuba and Iran, which for decades lived under sanctions. The relative decline in the efficiency of trade and economic sanctions is largely due to the global nature of the world economy, which offers little if any opportunity for the introduction and maintenance of truly severe restrictions on the flow of goods and service. The same is true for stimulating economic instruments of foreign policy. There are many states that are ...