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Today, globalisation has entered a critical phase of slowdown. The asymmetrical US-China relationship that has been the fundamental axis up to now has entered into crisis. The financial imperialism of the dollar proves to be increasingly burdensome and destabilizing. The rise of capitalist China is questioning US imperialist levy. This book offers a comprehensive analysis of the looming confrontation, while identifying potential points of no return in the intertwined dynamics of the world market, geopolitical configurations, and class relationships. Neither contender can give up the game. Will there be a de-globalisation? Is a multipolar order realistic? Are we facing a Chinese hegemonic challenge or rather first signs that hint at the potential for systemic disintegration?
The book reviews globalisation by identifying causes behind the discontent it has produced in recent years. It variously engages in economics, political economy, development and policy discourses to study experiences of countries and institutions in managing and adjusting to globalisation. Extending the analysis to latest global developments, including the remarkable advance of technology and digitalisation, and political and economic upheavals caused by COVID19, the book collects varied academic perspectives and reflects on the present as well as future. Comprising chapters written by distinguished academics and policy experts, the book is a rare collection of cross-disciplinary objective evaluations of globalisation.
The Trump administration recognizes the China challenge, but it needs a grand strategy. Blackwill recommends decisive action, sustained diplomacy, collaboration among branches of the U.S. government, and working with allies in Asia and Europe, among other approaches.
The author of "The Age of Diminished Expectations" returns with a sobering tour of the global economic crises of the last two years.
China's entry into the World Trade Organization (WTO) in 2001 was heralded as historic, and for good reason: the world's most populous nation was joining the rule-based system that has governed international commerce since World War II. But the full ramifications of that event are only now becoming apparent, as the Chinese economic juggernaut has evolved in unanticipated and profoundly troublesome ways. In this book, journalist Paul Blustein chronicles the contentious process resulting in China's WTO membership and the transformative changes that followed, both good and bad - for China, for its trading partners, and for the global trading system as a whole. The book recounts how China opened its markets and underwent far-reaching reforms that fuelled its economic takeoff, but then adopted policies - a cheap currency and heavy-handed state intervention - that unfairly disadvantaged foreign competitors and circumvented WTO rules. Events took a potentially catastrophic turn in 2018 with the eruption of a trade war between China and the United States, which has brought the trading system to a breaking point. Regardless of how the latest confrontation unfolds, the world will be grappling for decades with the challenges posed by China Inc.
This title was first published in 2002. This innovative work analyses how the United States has laid down the foundations for global power. It reassesses and re-evaluates the declinist-renewal argument and challenges conventional balance of power theories, demonstrating how the United States is attempting to ’hegemonically globalise’ the entire international system. To evaluate the success of hegemonic globalisation, the book analyses four major powers and regions - Russia, the People’s Republic of China (PRC), the European Union (EU), and Japan - and their historical, political, economic, cultural and geopolitical relations with the United States. Each study examines the tangible and intangible sources of their relationship, and the possible tensions and resistance towards United States hegemony therein. Providing much-needed insight and a fresh perspective, this book makes a worthwhile contribution to our understanding of contemporary international power.
Since ancient times the exercise of individual freedoms has been inseparable from the expansion of the market, driven by the search for profit. This force, namely capitalism, has stimulated human creativity and aggression in ways that have produced immense benefits. As capitalism has broadened its scope in the epoch of globalization, these benefits have become even greater. In an epoch of capitalist globalization, its contradictions have intensified. They comprehensively threaten the natural environment. They have intensified global inequality within both rich and poor countries, and between the internationalized global power elite and the mass of citizens rooted within their respective nation. This book explores the impact of the domineering economic phenomenon on our personal and social liberties.
Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.
The U.S. role in the world refers to the overall character, purpose, or direction of U.S. participation in international affairs and the country's overall relationship to the rest of the world. The U.S. role in the world can be viewed as establishing the overall context or framework for U.S. policymakers for developing, implementing, and measuring the success of U.S. policies and actions on specific international issues, and for foreign countries or other observers for interpreting and understanding U.S. actions on the world stage. While descriptions of the U.S. role in the world since the end of World War II vary in their specifics, it can be described in general terms as consisting of four key elements: global leadership; defense and promotion of the liberal international order; defense and promotion of freedom, democracy, and human rights; and prevention of the emergence of regional hegemons in Eurasia. The issue for Congress is whether the U.S. role in the world is changing, and if so, what implications this might have for the United States and the world. A change in the U.S. role could have significant and even profound effects on U.S. security, freedom, and prosperity. It could significantly affect U.S. policy in areas such as relations with allies and other countries, defense plans and programs, trade and international finance, foreign assistance, and human rights. Some observers, particularly critics of the Trump Administration, argue that under the Trump Administration, the United States is substantially changing the U.S. role in the world. Other observers, particularly supporters of the Trump Administration, while acknowledging that the Trump Administration has changed U.S. foreign policy in a number of areas compared to policies pursued by the Obama Administration, argue that under the Trump Administration, there has been less change and more continuity regarding the U.S. role in the world. Some observers who assess that the United States under the Trump Administration is substantially changing the U.S. role in the world-particularly critics of the Trump Administration, and also some who were critical of the Obama Administration-view the implications of that change as undesirable. They view the change as an unnecessary retreat from U.S. global leadership and a gratuitous discarding of long-held U.S. values, and judge it to be an unforced error of immense proportions-a needless and self-defeating squandering of something of great value to the United States that the United States had worked to build and maintain for 70 years. Other observers who assess that there has been a change in the U.S. role in the world in recent years-particularly supporters of the Trump Administration, but also some observers who were arguing even prior to the Trump Administration in favor of a more restrained U.S. role in the world-view the change in the U.S. role, or at least certain aspects of it, as helpful for responding to changed U.S. and global circumstances and for defending U.S. interests. Congress's decisions regarding the U.S role in the world could have significant implications for numerous policies, plans, programs, and budgets, and for the role of Congress relative to that of the executive branch in U.S. foreign policymaking.
The global financial crisis of 2008/9 is the Great Depression of the 21st century. For many though, the similarities stop at the Wall Street Crash as the current generation of policymakers have acted quickly to avoid the mistakes of the past. Yet the global crisis has made room for mistakes all of its own. While governments have apparently kept to their word on refraining from protectionist measures in the style of 1930s tariffs, there has been a disturbing rise in "murky protectionism." Seemingly benign, these crisis-linked policies are twisted to favour domestic firms, workers and investors. This book, first published as an eBook on VoxEU.org in March 2009, brings together leading trade policy practitioners and experts - including Australian Trade Minister Simon Crean and former Mexican President Ernesto Zedillo. Initially its aim was to advise policymakers heading in to the G20 meeting in London, but since the threat of murky protectionism persists, so too do their warnings.