Geoeconomic Strategy in the Conditions of Modern Geopolitical Challenges

This article examines contemporary geoeconomic strategy amidst global geopolitical and economic challenges. Coined by Edward Lutwak, geoeconomics integrates international economics, geopolitics, and strategy, emphasizing economic power in global dynamics. Examining the connection of economic policies with geopolitical interests, the article investigates how states use economic instruments to assert power, maneuver regional hegemonies, and safeguard strategic objectives. The article highlights the transformative impact of events like Brexit, the COVID-19 pandemic, and the Russian invasion of Ukraine in February of 2022, emphasizing the importance of economic diplomacy in the complexity of contemporary challenges. In navigating this landscape, states must adopt nuanced geoeconomic strategies to secure their national interests effectively. The article underscores the necessity for innovative approaches to address modern geopolitical complexities and ensure relevance in an interconnected world. Keywords: geoeconomics, geopolitics, economic policy, world economic order, international economic relations.