Cataracts of globalization and the economic diplomacy of small states

Abstract

This paper strives to briefly delineate the development of economic diplomacy vis-à-vis globalization and tendencies in the world politics and economy. It outlines the impact of globalization on economic diplomacy and defines fundamental trends of international development that could shape its overall functioning. Then, it determines the political and economic phenomena that affect and shape the economic diplomacy of smaller countries, influence its orientation and pose new challenges. The example of Denmark is considered as an effective and successful model on which Slovak economic diplomacy could be based. The authors attempt to outline appropriate pillars of economic diplomacy of smaller countries, while underlining the importance of systematic and timely information analysis.