Fostering peace is vital. It leads to various positive outcomes including improved economic conditions, helps prevent the outbreak of violent conflicts and promotes long-term stability. There are various ways of fostering peace among rival or conflicting countries including diplomatic negotiations, facilitating communication channels, promoting cultural exchange programs and encouraging mutual understanding through education. But increasing economic relations can also help build trust and cooperation between rival nations many times and foster peace more effectively. According to multiple sources including the British Broadcasting Corporation and Cable News Network, improved economic relations have reduced the chance of conflicts or promoted peace between different countries having rivalry including, but not limited to, between China and India, though there are other reasons too.
It is notable that there are trade restrictions-oriented, historical grievances-based and other reasons that put barriers to improving economic relations among conflicting and rival countries. Geopolitical tensions, historical conflicts and trade restrictions (by each other or by one party) and security concerns hinder mutual cooperation — ultimately putting crucial barriers to fostering economic relations and hindering the promotion of peace — between different rival countries. Among others, a lack of trust, conflicting ideologies and cultural differences often overshadow economic interests and put barriers to increasing economic relations between different rival or conflicting countries many times, hindering peace. For instance, historical grievances and cultural differences, along with several other reasons, put hindrances to fostering economic relations between Israel and many Arab countries including Iran.
Hopefully saying, various steps of different rival countries help address the challenges and facilitate increased economic relations, leading to an increased chance of peace. Participation in regional and global economic alliances and reaching bilateral and multilateral trade agreements have helped improve economic relations between different rival and conflicting countries. Many rival countries carry out businesses, implement cross-border infrastructure projects to improve connectivity and facilitate the movement of goods and services, organize joint business conferences and promote cultural exchanges, leading to positive outcomes. For instance, different geopolitically conflicting countries including, but not limited to, the United States and China have improved their economic relations and carry out bilateral businesses amidst tensions which helps reduce the chance of conflicts largely.
Though addressing barriers to fostering economic relations is difficult between different rival countries, flaws in the steps lead to limited outcomes of the efforts many times. There is a lack of interest and steps to promote economic relations between rival or conflicting countries and address the lack of mutual trust and transparency between the governments of rival countries that are needed for effective communication and economic cooperation, making it difficult to prioritize economic relations over other issues. Among others, there is also a lack of steps to address the underlying tensions and find common ground — needed to overcome and create mutually beneficial relations that can promote economic relations.
Though economic relations do not completely prevent the outbreak of international conflicts, they can reduce their chance largely. But addressing various challenges and the flaws of the steps is vital and can foster economic relations among rival or conflicting countries and reduce the chance of conflicts. For this, it is essential for the rival or conflicting countries to put emphasis on diplomatic efforts and negotiation for increased economic relations. Establishing diplomatic channels for communication and negotiation between the governments of the conflicting countries can foster a more conducive environment for their economic relations to flourish and help establish increased economic relations.
Implementing confidence-building measures can not only help improve economic relations including investments in joint infrastructure projects but also reduce tensions and promote peace and stability between different conflicting countries. The increased role of the WTO’s Trade for Peace Programme can be immensely helpful many times. Among others, addressing the underlying grievances, which are responsible for the lack of trust, may help improve economic relations between different rival or conflicting countries, reducing the chance of conflicts.
