Do developing countries have a say? What the green subsidies race tells us about the future of geoeconomics.

Share this article: 27 September 2024 – Ana Peres is a Lecturer in Law at the University of Sussex and a member of the UKTPO. Lawyers, economists and political scientists are increasingly using a new term to frame discussions on current trade relations and policies: geoeconomics. This means that countries are intervening in strategic economic sectors not primarily for profit but to ensure autonomy, build resilient supply chains and secure access to valuable capabilities. Such approach contrasts with the ideals of free trade, market access and interdependence that shaped international trade for decades. These traditional ideals, even when supported by a so-called ‘rules-based system’, always posed challenges for developing countries to meet their objectives. So, what does geoeconomics mean for developing countries? Unfortunately, it threatens to sideline them even more. Consider one of the main areas where geoeconomic strategies are at play: the development of clean technologies. Governments are implementing... Read More