Abstract: Geo-economics was advanced by researchers of Europe and America in 1990s, and then it was speeded over the academics. But there were some different views towards its concept and nature, which has affected the development of the theory. This paper discriminate the nature and connotation of features from the practice of Europe and America of geo-economics background, theoretical origin, the development of schools and so on by a view of embryology. The main research conclusions as follows :(1) Geo-economics of Europe and America has profound theoretic origin. The re-occurrence of geo-economical cooperation around the world is one vital resource and theoretical background of the birth of Geo-economics. Meanwhile, the expansion of several other similar or related economic theories brings about its birth academically and geo-politics is its direct academic resource. (2)As space spread of the geo-economic theory, there are formed a multicentre centers of distinctive theory school such as the USA, Italy and Russia. The interaction among theories, views, and academic schools of different sub-subjects has made Geo-economics rather sophisticated; (3) Although geo-economics has formed its own unique theoretical characteristics different from geo-politics, it is still at the very early stage of its development with obscure research border, yet-to-be-build theoretical foundation and imperfect theoretical system.