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Why do states block some foreign direct investment on national security grounds even when it originates from within their own security community? Government intervention into foreign takeovers of domestic companies is on the rise, and many observers find it surprising that states engage in such behaviour not only against their strategic and military competitors, but also against their closest allies. Ashley Lenihan argues that such puzzling behaviour can be explained by recognizing that states use intervention into cross-border mergers and acquisitions as a tool of statecraft to internally balance the economic and military power of other states through non-military means. This book tests this theory using quantitative and qualitative analysis of transactions in the United States, Russia, China, and fifteen European Union states. It deepens our understanding of why states intervene in foreign takeovers, the relationship between interdependence and conflict, the limits of globalization, and how states are balancing power in new ways. This title is also available as Open Access.
This book focuses on the non-military military means through which states intervene to balance the economic and military power of other states. Also available as Open Access.
Since the sudden disappearance of the Soviet Union, many scholars have argued that the balance of power theory is losing its relevance. This text examines this viewpoint, as well as looking at systematic factors that may hinder or favour the return of balance of power politics.
At the end of the Cold War, the United States emerged as the world's most powerful state, and then used that power to initiate wars against smaller countries in the Middle East and South Asia. According to balance-of-power theory--the bedrock of realism in international relations--other states should have joined together militarily to counterbalance the United States' rising power. Yet they did not. Nor have they united to oppose Chinese aggression in the South China Sea or Russian offensives along its western border. This does not mean balance-of-power politics is dead, argues renowned international relations scholar T. V. Paul; instead it has taken a different form. Rather than employ familiar strategies such as active military alliances and arms buildups, leading powers have engaged in "soft balancing," which seeks to restrain threatening powers through the use of international institutions, informal alignments, and economic sanctions. Paul places the evolution of balancing behavior in historical perspective, from the post-Napoleonic era to today's globalized world. This book offers an illuminating examination of how subtler forms of balance-of-power politics can help states achieve their goals against aggressive powers without wars or arms races.
Since the Hiroshima and Nagasaki attacks, no state has unleashed nuclear weapons. What explains this? According to the author, the answer lies in a prohibition inherent in the tradition of non-use, a time-honored obligation that has been adhered to by all nuclear states—thanks to a consensus view that use would have a catastrophic impact on humankind, the environment, and the reputation of the user. The book offers an in-depth analysis of the nuclear policies of the U.S., Russia, China, the UK, France, India, Israel, and Pakistan and assesses the contributions of these states to the rise and persistence of the tradition of nuclear non-use. It examines the influence of the tradition on the behavior of nuclear and non-nuclear states in crises and wars, and explores the tradition's implications for nuclear non-proliferation regimes, deterrence theory, and policy. And it concludes by discussing the future of the tradition in the current global security environment.
Why have states throughout history regularly underestimated dangers to their survival? Why have some states been able to mobilize their material resources effectively to balance against threats, while others have not been able to do so? The phenomenon of "underbalancing" is a common but woefully underexamined behavior in international politics. Underbalancing occurs when states fail to recognize dangerous threats, choose not to react to them, or respond in paltry and imprudent ways. It is a response that directly contradicts the core prediction of structural realism's balance-of-power theory--that states motivated to survive as autonomous entities are coherent actors that, when confronted by dangerous threats, act to restore the disrupted balance by creating alliances or increasing their military capabilities, or, in some cases, a combination of both. Consistent with the new wave of neoclassical realist research, Unanswered Threats offers a theory of underbalancing based on four domestic-level variables--elite consensus, elite cohesion, social cohesion, and regime/government vulnerability--that channel, mediate, and redirect policy responses to external pressures and incentives. The theory yields five causal schemes for underbalancing behavior, which are tested against the cases of interwar Britain and France, France from 1877 to 1913, and the War of the Triple Alliance (1864-1870) that pitted tiny Paraguay against Brazil, Argentina, and Uruguay. Randall Schweller concludes that those most likely to underbalance are incoherent, fragmented states whose elites are constrained by political considerations.
With the end of the Cold War, nuclear non-proliferation has emerged as a central issue in international security relations. While most existing works on nuclear proliferation deal with the question of nuclear acquisition, T.V. Paul explains why some states have decided to forswear nuclear weapons even when they have the technological capability or potential capability to develop them, and why some states already in possession of nuclear arms choose to dismantle them.
This book discusses how the Covid pandemic has reshaped investment screening mechanisms, investment law and arbitration. Contributions from leading academics and practitioners offer a fresh perspective on the reform of the ISDS mechanism and investment treaties; security and public order risks in FDI screening; the application of treaty standards and customary law defences; and the critical role of scientific data in investment arbitration. With rare insights and unpublished data, this book is your essential guide to understanding the resilience of the investment regime in these challenging times.
The Long Shadow investigates the purposes and roles of nuclear weapons in the new security environment, the nature and content of the national nuclear strategies of relevant states, and their implications for international security and stability in the Asian security region
The balance of power principle has been central to both the study and practice of international politics for over 300 years. It has guided governments in the conduct of foreign policy and provided a structure for explanations of some of the recurring patterns of international relations. This study examines the various meanings given to the balance of power over the centuries and traces the historical evolution of its theory and practice through steadily more complex forms. It describes the balance principle in practice, both as a guiding light of national foreign policies and as a structural explanation of how the international system operates. The reader is provided with an understanding of the various meanings of the balance principle and the key thinkers and politicians who have influenced its development. The text presents the essence of arguments concerning the morality of the principle as a foreign policy guide and its value as a structural explanation of the fundamental reality of international relations.