Dermot Hodson
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199572502
- eISBN:
- 9780191728860
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199572502.001.0001
- Subject:
- Political Science, Political Economy, European Union
Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area ...
More
Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor? This book explores these key questions through an in-depth study of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy, and international political economy, it examines: Economic and Monetary Union's break from the European Union's traditional modus operandi, the Community method; the European Central Bank's ambivalence about ever closer union; the Eurogroup's rise and fall as a forum for coordination; the interplay between national institutions and the stability and growth pact; the Broad Economic Policy Guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.Less
Can the euro area survive without a centralized economic policy? What lessons can be drawn from Economic and Monetary Union (EMU) about new modes of policymaking in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor? This book explores these key questions through an in-depth study of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy, and international political economy, it examines: Economic and Monetary Union's break from the European Union's traditional modus operandi, the Community method; the European Central Bank's ambivalence about ever closer union; the Eurogroup's rise and fall as a forum for coordination; the interplay between national institutions and the stability and growth pact; the Broad Economic Policy Guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.
WU BAIYI
- Published in print:
- 2007
- Published Online:
- January 2012
- ISBN:
- 9780197264089
- eISBN:
- 9780191734809
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264089.003.0005
- Subject:
- Political Science, International Relations and Politics
This chapter provides an overview of China's new economic diplomacy and the interaction between economic and political statecraft under globalization. Although in the past China adopted a ‘politics ...
More
This chapter provides an overview of China's new economic diplomacy and the interaction between economic and political statecraft under globalization. Although in the past China adopted a ‘politics first’ approach to economic relations, now the economic priorities of China's development take clear precedence. This has three main implications. The first is that, under the ‘going out’ strategy, China has much more in the way of society-society relations than in the past. Second, in geographical terms, China is increasingly focused on regional integration and new forms of developing world cooperation. Third, China's diplomacy is increasingly pluralistic: both meeting obligations under existing rules and regimes but gradually reforming these in its own interests.Less
This chapter provides an overview of China's new economic diplomacy and the interaction between economic and political statecraft under globalization. Although in the past China adopted a ‘politics first’ approach to economic relations, now the economic priorities of China's development take clear precedence. This has three main implications. The first is that, under the ‘going out’ strategy, China has much more in the way of society-society relations than in the past. Second, in geographical terms, China is increasingly focused on regional integration and new forms of developing world cooperation. Third, China's diplomacy is increasingly pluralistic: both meeting obligations under existing rules and regimes but gradually reforming these in its own interests.
Diane B. Kunz
- Published in print:
- 1991
- Published Online:
- October 2011
- ISBN:
- 9780198202417
- eISBN:
- 9780191675348
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198202417.003.0012
- Subject:
- History, British and Irish Modern History, Middle East History
This chapter explains how the Americans quite ruthlessly brought to bear their economic arsenal against the British. Once this decision had been made in the wake of the invasion, ‘the question became ...
More
This chapter explains how the Americans quite ruthlessly brought to bear their economic arsenal against the British. Once this decision had been made in the wake of the invasion, ‘the question became not whether, but when, Britain would bow to American imperatives.’ From thirty years' distance, it is difficult to recall the economic circumstances of 1956. As the chapter states, it was a different monetary world. There were two major Middle Eastern reasons why British sterling was vulnerable during the crisis. The largest holders of transferable sterling included Arab countries and oil companies. If either or both decided to turn against Britain, the situation would quickly become precarious, especially if oil supplies were curtailed (as of course happened).Less
This chapter explains how the Americans quite ruthlessly brought to bear their economic arsenal against the British. Once this decision had been made in the wake of the invasion, ‘the question became not whether, but when, Britain would bow to American imperatives.’ From thirty years' distance, it is difficult to recall the economic circumstances of 1956. As the chapter states, it was a different monetary world. There were two major Middle Eastern reasons why British sterling was vulnerable during the crisis. The largest holders of transferable sterling included Arab countries and oil companies. If either or both decided to turn against Britain, the situation would quickly become precarious, especially if oil supplies were curtailed (as of course happened).
Thomas C. Mills
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780748643882
- eISBN:
- 9780748676699
- Item type:
- book
- Publisher:
- Edinburgh University Press
- DOI:
- 10.3366/edinburgh/9780748643882.001.0001
- Subject:
- Political Science, International Relations and Politics
The dominant theme of Anglo-American economic diplomacy during the Second World War was an attempt by the Franklin D. Roosevelt administration to promote a multilateral system, based on equality of ...
More
The dominant theme of Anglo-American economic diplomacy during the Second World War was an attempt by the Franklin D. Roosevelt administration to promote a multilateral system, based on equality of access to markets and raw materials. Doubting Britain's ability to compete in such a system without various safeguards to protect its export markets, the British government baulked at the US proposal and clung to its autarkic structures constructed during the interwar years. In considering Anglo-American economic diplomacy in South America this book paints a different picture. It was Britain that promoted multilateralism in this region. Britain lacked the preferential position in South America that it sought to defend in other parts of the world. A multilateral system based on free and equal access therefore represented its best chance of maintaining commercial footholds. The Roosevelt administration was divided concerning the appropriate attitude to be taken towards British interests in South America. On the one hand there were those like the State Department's internationalists who wished to protect British interests in South America in the service of bringing about a multilateral system on a global scale. Others, however, like the State Department's Latin Americanists and influential temporary government agencies, pursued policies which excluded British interests from South America, thereby threatening the successful implementation of multilateral system. As such, this book argues that exploring relations between the US and Britain in South America results in a greater understanding of the broader economic diplomacy conducted between the two powers during the Second World War.Less
The dominant theme of Anglo-American economic diplomacy during the Second World War was an attempt by the Franklin D. Roosevelt administration to promote a multilateral system, based on equality of access to markets and raw materials. Doubting Britain's ability to compete in such a system without various safeguards to protect its export markets, the British government baulked at the US proposal and clung to its autarkic structures constructed during the interwar years. In considering Anglo-American economic diplomacy in South America this book paints a different picture. It was Britain that promoted multilateralism in this region. Britain lacked the preferential position in South America that it sought to defend in other parts of the world. A multilateral system based on free and equal access therefore represented its best chance of maintaining commercial footholds. The Roosevelt administration was divided concerning the appropriate attitude to be taken towards British interests in South America. On the one hand there were those like the State Department's internationalists who wished to protect British interests in South America in the service of bringing about a multilateral system on a global scale. Others, however, like the State Department's Latin Americanists and influential temporary government agencies, pursued policies which excluded British interests from South America, thereby threatening the successful implementation of multilateral system. As such, this book argues that exploring relations between the US and Britain in South America results in a greater understanding of the broader economic diplomacy conducted between the two powers during the Second World War.
Verena Steller
- Published in print:
- 2016
- Published Online:
- August 2016
- ISBN:
- 9780198783862
- eISBN:
- 9780191826511
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198783862.003.0009
- Subject:
- Political Science, International Relations and Politics
In contemporary perception, after the diplomatic trauma of the Paris Peace Conference, the Locarno Conference in 1925 marked a moment of foreign policy transformation as the real dividing line ...
More
In contemporary perception, after the diplomatic trauma of the Paris Peace Conference, the Locarno Conference in 1925 marked a moment of foreign policy transformation as the real dividing line between war and peace. The treaties of Locarno were widely celebrated as a new modus operandi in international relations. This chapter concentrates on the characteristics of this fundamental transition process. With the First World War, the mechanisms of diplomatic interaction of the “golden age” of diplomacy were lost and diplomacy was in a state of crisis. The new complexity of international relations was enhanced by allied pluralism and multilateralism of methods at a time when reforms were required within foreign offices. “New diplomacy” placed high hopes in so-called “economic diplomacy.” Two test cases of foreign policy interaction are considered: the Spa Conference in 1920 and the Locarno Conference in 1925, to show how a consensus-oriented method of negotiation evolved.Less
In contemporary perception, after the diplomatic trauma of the Paris Peace Conference, the Locarno Conference in 1925 marked a moment of foreign policy transformation as the real dividing line between war and peace. The treaties of Locarno were widely celebrated as a new modus operandi in international relations. This chapter concentrates on the characteristics of this fundamental transition process. With the First World War, the mechanisms of diplomatic interaction of the “golden age” of diplomacy were lost and diplomacy was in a state of crisis. The new complexity of international relations was enhanced by allied pluralism and multilateralism of methods at a time when reforms were required within foreign offices. “New diplomacy” placed high hopes in so-called “economic diplomacy.” Two test cases of foreign policy interaction are considered: the Spa Conference in 1920 and the Locarno Conference in 1925, to show how a consensus-oriented method of negotiation evolved.
Brendan Vickers
- Published in print:
- 2014
- Published Online:
- March 2015
- ISBN:
- 9780199689248
- eISBN:
- 9780191789731
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199689248.003.0011
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses the trade and investment relations between South Africa and the African continent. It describes South Africa’s promotion of broader regional integration through ‘developmental ...
More
This chapter discusses the trade and investment relations between South Africa and the African continent. It describes South Africa’s promotion of broader regional integration through ‘developmental regionalism’, which combines trade integration, cross-border infrastructure development, and policy coordination to build and diversify production, broaden regional and continental markets, and boost intra-African trade. The chapter concludes by setting out some challenges to South African economic diplomacy in Africa.Less
This chapter discusses the trade and investment relations between South Africa and the African continent. It describes South Africa’s promotion of broader regional integration through ‘developmental regionalism’, which combines trade integration, cross-border infrastructure development, and policy coordination to build and diversify production, broaden regional and continental markets, and boost intra-African trade. The chapter concludes by setting out some challenges to South African economic diplomacy in Africa.
Rani D. Mullen
- Published in print:
- 2016
- Published Online:
- April 2016
- ISBN:
- 9780199458325
- eISBN:
- 9780199086498
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199458325.003.0016
- Subject:
- Political Science, International Relations and Politics
The author analyses the changing nature of India’s relationship with Sub-Saharan Africa by the 21st century. From a centuries-old trade relationship, India’s foreign policy in Africa was transformed, ...
More
The author analyses the changing nature of India’s relationship with Sub-Saharan Africa by the 21st century. From a centuries-old trade relationship, India’s foreign policy in Africa was transformed, by the early 20th century, into a relationship based on the common experience of colonial subjugation. In addition, the onset of the Cold War after Indian independence also informed India’s relationship with Africa, as India and many African countries responded to the changing international system by supporting the Non-Aligned Movement. With the end of the Cold War and India’s economic opening in the early 1990s, Indian engagement in Africa has deepened based largely on Realist assessments of domestic needs that increased cooperation with Africa can help attain. The rise of domestic factors undergirding India’s foreign policy in Sub-Saharan Africa, as well as the continued importance of systemic factors are likely to continue to drive enhanced Indo-African ties in the 21st century.Less
The author analyses the changing nature of India’s relationship with Sub-Saharan Africa by the 21st century. From a centuries-old trade relationship, India’s foreign policy in Africa was transformed, by the early 20th century, into a relationship based on the common experience of colonial subjugation. In addition, the onset of the Cold War after Indian independence also informed India’s relationship with Africa, as India and many African countries responded to the changing international system by supporting the Non-Aligned Movement. With the end of the Cold War and India’s economic opening in the early 1990s, Indian engagement in Africa has deepened based largely on Realist assessments of domestic needs that increased cooperation with Africa can help attain. The rise of domestic factors undergirding India’s foreign policy in Sub-Saharan Africa, as well as the continued importance of systemic factors are likely to continue to drive enhanced Indo-African ties in the 21st century.
