Lessons Learned From Globalisation, Economic Diplomacy, and Internationalisation

Abstract

The internationalization theories are still expanding and being developed by scholars. Studies, related with internationalization, are divided into two research main streams: based on born global theory and international entrepreneurship approach. Economic diplomacy is today the key to the external relations of countries. With globalisation, governments became decisively engaged in economic diplomacy, economic results and the welfare of countries became more dependent on the interaction between economies. In practice, economic diplomacy, associated with the defence of a country's economic and commercial interests, is the continuous work of ambassadors with the businessman, through the identification of business opportunities and serving as a bridge to companies of their countries. Currently, the goal of economic diplomacy is growth and development, without losing sight of the preservation of security to achieve social welfare. This chapter addresses the main themes covering the main lessons learned from globalisation, economic diplomacy, and internationalisation.