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The Global Economic Order and Global Justice

Gillian Brock

in Global Justice: A Cosmopolitan Account

This chapter begins by arguing that the link between free trade and poverty reduction is not as straightforward as some believe. Though there is a role for trade liberalization, its pace, sequencing ... More

This chapter begins by arguing that the link between free trade and poverty reduction is not as straightforward as some believe. Though there is a role for trade liberalization, its pace, sequencing and other complementary policies are also crucial to its success. Special and differential treatment can be justified for vulnerable, developing nations. The chapter considers what economic justice requires. Rejecting Kapstein's model, it argues for an alternative account of economic justice, according to which the international community makes it possible for each country to have reasonable opportunities to achieve the kind and level of economic activity necessary to sustain the goals of global justice introduced in Chapter 3. The chapter discusses ways in which we can discharge this obligation and also ways in which the global economic order can assist in improving working conditions and wages, through programs such as “Just Linkage”, advocated by Barry and Reddy.Less

Regionalism and Community: Renegotiating Regional and Global Economic Order

Evelyn Goh

in The Struggle for Order: Hegemony, Hierarchy, and Transition in Post-Cold War East Asia

This chapter studies the functional development and political construction of a regional international society, by focusing on its substantive manifestation in financial regionalism after the 1997 ... More

This chapter studies the functional development and political construction of a regional international society, by focusing on its substantive manifestation in financial regionalism after the 1997 Asian financial crisis. More than in the political realm, the negotiation of a particularly East Asian social compact in the economic realm crucially depends upon leadership from regional great powers. Critically evaluating the process of creating the Chiang Mai Initiative monitoring and currency swap arrangements, this chapter highlights the struggle for leadership between the U.S., Japan and China. It also finds limited the prospects of East Asian financial regionalism challenging the U.S.-led global economic order because of the region’s externally-oriented economic production structures. Thus, East Asian states returned to partial support of the neoliberal economic orthodoxy and international financial institutions shortly after the 1997 crisis.Less

Rethinking the Cosmopolitanism versus Non-Cosmopolitanism Debate: An Introduction

Gillian Brock

in Cosmopolitanism versus Non-Cosmopolitanism: Critiques, Defenses, Reconceptualizations

This chapter introduces and analyzes core issues in the debate between cosmopolitans and non-cosmopolitans. It provides important background, sketches all the authors’ arguments, and analyzes ... More

This chapter introduces and analyzes core issues in the debate between cosmopolitans and non-cosmopolitans. It provides important background, sketches all the authors’ arguments, and analyzes contributors’ answers to fourteen central questions. These include: What is distinctive about a cosmopolitan approach to matters of justice? What does the commitment to the ideal of moral equality entail for global justice? Does membership in associations, especially national ones, matter to our duties to one another in the global context? Does the global economic order violate the rights of the poor or harm their interests in ways that require redress? What is it to be a good “world citizen” and is this in conflict with local duties and being a good citizen of a state? Do cosmopolitan or non-cosmopolitan theories provide a better account of our obligations or a more useful framework for mediating the interests of compatriots and non-compatriots?Less

Is There Really a “Global Human Rights Deficit?”: Consequentialist Liability and Cosmopolitan Alternatives

Saladin Meckled-Garcia

in Cosmopolitanism versus Non-Cosmopolitanism: Critiques, Defenses, Reconceptualizations

This chapter argues that contrary to a popular “minimal cosmopolitan” argument, citizens of affluent states are not complicit in violating the human rights of the global poor just because they ... More

This chapter argues that contrary to a popular “minimal cosmopolitan” argument, citizens of affluent states are not complicit in violating the human rights of the global poor just because they participate in the global economic order. That argument alleges complicity on the basis that they have some causal relationship to a system of causes that, as a system, has foreseeable and avoidable negative effects. However, complicity in a violation implies complicity in an action that wrongs a person. Yet causal connection to a system with foreseeable and (theoretically) avoidable harmful outcomes is not sufficient for wronging others. Culpability requires an unreasonable imposition (whether direct or negligent) of harm/risk by some agent. Unreasonable personal or collective actions, in this sense, are not behind global poverty and the “the global order” is not an agent. The chapter also argues that there are better ways to morally critique global poverty than through alleging personal complicity in collective violations.Less

Conclusion: After the Asian Monetary Fund

in The Japanese Challenge to the American Neoliberal World Order: Identity, Meaning, and Foreign Policy

This chapter sums up the key findings of this study on the Japanese challenge to the neoliberal world order and its proposal to create the Asian Monetary Fund (AMF) with the exclusion of the United ... More

This chapter sums up the key findings of this study on the Japanese challenge to the neoliberal world order and its proposal to create the Asian Monetary Fund (AMF) with the exclusion of the United States from membership. It discusses the implications of the Japanese challenge for Japanese foreign policy toward Asian regionalism and the politics of a new global economic order, suggesting that the AMF proposal constituted the beginning of the postcrisis “New Asian Regionalism.” The chapter also discusses the theoretical, empirical, and methodological contribution of this book to the field of international relations.Less

Managing the Global Financial Crisis: Lessons from Technological Crisis Management

Paul Shrivastava, William Gruver, and Matt Statler

in Learning From the Global Financial Crisis: Creatively, Reliably, and Sustainably

Examining lessons from the past thirty years of research on technological crisis management, this chapter shows parallels and similarities in technological and financial crisis antecedent conditions, ... More

Examining lessons from the past thirty years of research on technological crisis management, this chapter shows parallels and similarities in technological and financial crisis antecedent conditions, crisis causes, and prevention and management strategies to the current global financial crisis. It suggests policies for mitigating the impacts of financial crisis, including long-term planning for managing the crisis process, regulating risk and leverage, building surveillance systems, improving global communications, and redesigning a new sustainable global economic order.Less

Trade and Finance in Development Thinking

José Antonio Ocampo

in International Development: Ideas, Experience, and Prospects

This chapter summarizes the controversies on trade and finance in relation to developing countries as they have evolved since the Second World War. It shows the significant divergences among schools ... More

This chapter summarizes the controversies on trade and finance in relation to developing countries as they have evolved since the Second World War. It shows the significant divergences among schools of development thought as to the role of the global system versus national policies in determining development success, and between those who defend the virtues of markets versus those who consider that development is intrinsically tied to some forms of state intervention. It follows a historical sequence, from what it terms the “industrialization consensus” of the early post-war years through the rise of newly-industrialized countries (NICs) as exporters of manufactures, to the “Washington Cconsensus” and the most recent challenges associated with the rise of China and the recent slowdown of international trade. Through this analysis, it also takes a look at changes in the global economic order and initiatives aimed at redesigning the rules for the global economy.Less