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42. China, the Interdependent Giant, and the Global Economic Crisis
- Author:
- Thomas G. Moore
- Publication Date:
- 11-2013
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The global economic crisis revealed China to be an interdependent giant, one whose 'rise' was undeniable but also one whose deepening participation in transnational production sharing and network trade made it highly susceptible to an external shock. China weathered the storm relatively well - avoiding a recession, in particular - not because it had 'decoupled' from the G7 economies but because its stimulus measures were unusually swift and powerful. One cost, however, has been a worsening domestic imbalance between investment and consumption that carries a heightened risk of asset price inflation, non-performing loans and destabilising levels of local government debt. Meanwhile, China's ties to the world economy have not fundamentally changed since the crisis began. Despite stirring leader rhetoric and summit declarations, the BRICS have made only modest progress in meeting their goals. East Asia, North America and Europe remain China's principal trade partners, and cross-border production chains connecting these regions remain the dominant mode of China's incorporation into the world economy.
- Political Geography:
- China, Europe, East Asia, and North America
43. US and EU Human Rights and Democracy Promotion since the Arab Spring. Rethinking its Content, Targets and Instruments
- Author:
- Daniela Huber
- Publication Date:
- 11-2013
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The momentous changes in the Middle East and North Africa have brought the issue of human rights and democracy promotion back to the forefront of international politics. The new engagement in the region of both the US and the EU can be scrutinised along three dimensions: targets, instruments and content. In terms of target sectors, the US and EU are seeking to work more with civil society. As for instruments, they have mainly boosted democracy assistance and political conditionality, that is utilitarian, bilateral instruments of human rights and democracy promotion, rather than identitive, multilateral instruments. The content of human rights and democracy promotion has not been revised.
- Topic:
- Human Rights
- Political Geography:
- United States, Europe, Middle East, and North Africa
44. EU Foreign Policy and Political Islam: Towards a New Entente in the Post-Arab Spring Era?
- Author:
- Timo Behr
- Publication Date:
- 04-2013
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The rise of political Islam in the EU's southern neighbourhood represents a political as well as conceptual challenge to the EU as a foreign policy actor. In the past, the EU reacted to this challenge based on its essentialist perception of political Islam and its overarching interest in regional stability and security. However, the growing salience of 'contingencist' interpretations of political Islam and the resolution of the EU's democratisation-stabilisation dilemma in the wake of the Arab Spring have recently provided an opportunity for greater engagement and cooperation. This has enabled a switch in EU policies from a strategy of containment to a strategy of engagement. Despite this, problems remain as the EU continues to expect Islamist actors to adjust to its own discursive framework and as intra-European divisions revive as a result of the renewal of secular-religious divisions in the neighbourhood. This will complicate EU attempts to build a new partnership with Islamist democracies and will fuel old stereotypes and animosities.
- Topic:
- Foreign Policy and Islam
- Political Geography:
- Europe and Arabia
45. Identity, Solidarity, and Islam in Europe
- Author:
- Erik Jones
- Publication Date:
- 04-2013
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Populists argue that Islamic immigrants are fundamentally different from Europeans. As evidence, they point to notions of religious and cultural identity. Such arguments have popular resonance. As more mainstream politicians pick up on these themes, they begin to take on an air of common sense. Nevertheless, they are mistaken. Europe has a long track record of reconciling competing identities. This has happened by focusing on patterns of interaction (solidarity) rather than obvious indicators of distinctiveness. Using the examples of the Netherlands and Turkey, this article illustrates the wide spectrum of European approaches to the challenge of getting different groups to share the same geographic space.
- Topic:
- Islam
- Political Geography:
- Europe, Turkey, and Netherlands
46. The G20 after Los Cabos: Illusions of Global Economic Governance
- Author:
- Gabriel Goodliffe and Stéphan Sberro
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The failure of the Los Cabos summit to satisfactorily address the European sovereign debt crisis and ominous world economic outlook, let alone agree on concrete measures to improve the oversight and functioning of the global economy, appears to confirm the diminishing effectiveness and relevance of the G20 as an organ of international governance since its inception in December 2008. While few accomplishments were achieved in the area of global governance during the Mexican presidency, acute collective action problems, made worse by the present economic crisis, paralysed the G20 in the lead-up to and during the Los Cabos summit. These collective action problems and the ensuing failure of global governance are attributable to the absence of leadership evident at both the global and European levels, which in turn testifies to the excessive dispersion of state economic and political power within the international system.
- Political Geography:
- Europe
47. Policy Lessons from the Eurozone Crisis
- Author:
- Chiara Angeloni, Silvia Merler, and Guntram B. Wolff
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The current European crisis has shed light on several weaknesses and the institutional incompleteness characterizing the euro area. The manifestation of Europe's fragility was preceded by a large build-up of debt in the private sector, associated with national current account divergences and the deterioration of competitiveness particularly of the euro periphery countries. With the economic situation deteriorating, private sector debt became less credible, contaminating banks' balance sheets and placing a heavy burden on governments. A sovereign-bank vicious circle emerged: on the one hand, with banking risk translating into higher sovereign risk because of the governments' guarantor role and, on the other hand, with the deterioration of government's creditworthiness affecting the banking systems through banks' sovereign bond holdings. In principle, this negative feedback can be stopped by breaking one of the channels of transmission. A banking union at the European level is proposed as one solution.
- Topic:
- Disaster Relief
- Political Geography:
- Europe
48. A Slow Fuse: Italy and the EU Debt Crisis
- Author:
- Jonathan Hopkin
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Italy is firmly in the grip of an austerity programme mandated by the European Union institutions, and executed by an unelected technocrat. This state of affairs is at once the result of the acute and unexpected crisis of the financial and economic integration of the eurozone, and an expression of the failures of the Italian political class. Although the euro crisis has been mishandled by European elites, Italy's long-term economic decline, and the inability of Italian party politicians to generate a sustainable coalition to address Italy's economic problems, hinders an exit from the crisis.
- Topic:
- Financial Crisis
- Political Geography:
- Europe and Italy
49. The Greek Crisis and the Search for Political Leadership
- Author:
- Dimitrios Katsikas
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Despite two bailout agreements of unprecedented size and the implementation of a harsh austerity programme, no solution to the Greek crisis is in sight. As a result, Greece continues to be a hotspot, sending sporadic tremors to a fragile eurozone. The outcome so far leaves no doubts about the grave mishandling of the crisis. The most important cause of this failure is the lack of political leadership at both the national and European levels. Accordingly, a solution to the Greek crisis will remain elusive unless Greek and Europeans politicians overcome the constraints of national political calculations and exercise leadership commensurate to the challenge of rescuing Greece and indeed the eurozone itself.
- Political Geography:
- Europe and Greece
50. Portugal and the Straitjacket of the European Financial Crisis
- Author:
- Paulo Gorja
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The austerity program negotiated with the Troika (IMF-ECB-EC) and adopted by Portugal in 2011 is having a devastating impact on the Portuguese economy. Although the Portuguese government is clearly fulfilling the measures agreed with the Troika, the final outcome of the adjustment program is not entirely in its hands, but rather awaiting further EU decisions involving measures to stimulate economic growth, mutualisation of public debt and additional steps towards a federal Europe. As time goes by, the negative repercussions – in particular social and political instability, as well as the erosion of the Portuguese democratic regime – are inevitable if there is no light at the end of the tunnel.
- Political Geography:
- Europe and Portugal
51. Seeking CSDP Accountability Through Interparliamentary Scrutiny
- Author:
- Jan Wouters and Kolja Raube
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The EU's Common Security and Defence Policy (CSDP) requires parliamentary accountability. At present, as CSDP-related decisions are increasingly taken in the framework of the UN or the EU, neither the European Parliament (EP) nor national parliaments are able to hold decision-makers accountable. Interparliamentary cooperation can provide added value in bringing about parliamentary scrutiny of CSDP. Nevertheless, despite an official agreement, the EP and national parliaments have different views on what such interparliamentary cooperation entails. There are five conditions – cooperation and complementarity among parliaments, conferential dialogues, coordinated agendas, and comprehensive and comparative scrutiny – that have to be fulfilled to create added value for interparliamentary cooperation on CSDP matters.
- Political Geography:
- Europe
52. Sovereign Debt Crisis in Euroland: Root Causes and Implications for European Integration
- Author:
- Henk Overbeek
- Publication Date:
- 03-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- This article considers the likely impact of the global crisis on the prospects for the European project. First, it considers the nature of the current crisis. It argues that it is comparable, in terms of its deep structural character, to the one in the 1930s. The crisis manifested itself first in the financial sector, but was caused by underlying problems of over accumulation, which explains the succession of speculative booms and busts from the 1980s onward. The article then analyses how the financial crisis transmuted into the current sovereign debt crisis in Europe. It identifies a number of interdependent factors responsible for this: the bailouts of banks following the credit crisis; the stimulus programmes necessitated by the danger of a deep economic recession; the structural problems of the European Monetary Union leading to the accumulation of debt in the peripheral members; and finally the catalytic action of speculation in the financial markets. Finally, the article discusses responses to the debt crisis, outlining the contours of two alternatives (muddling through and Europeanisation), their implications, and some of the conditions for success. The conclusion is rather pessimistic: chances that an effective, timely and sustainable solution will be realised do not seem high.
- Political Geography:
- Europe
53. New Legal Instruments in a Changing World: Legal, Political and Cultural Developments in EU Judicial Cooperation
- Author:
- Daniela Piana
- Publication Date:
- 03-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- At the closing of the 20th century, Europe decided the time was ripe to take bold steps towards the creation of a truly integrated European judicial space. Of its overall goals for the new millennium, judicial integration ranked at the top as this reflected shifting global challenges in an increasingly diversified world. After more than a decade, the reality is still that of a policy area in which multiple practices of cooperation coexist. Indeed, political and cultural factors matter in explaining how judicial decisions and practices are harmonised and integrated by EU member states. The article focuses on a number of socialisation mechanisms adopted by the EU to build mutual trust among national authorities and also looks at the European Arrest Warrant as an important test bed of the strengths and weaknesses of European judicial cooperation.
- Political Geography:
- Europe
54. Breaking Free from Europe: Why Africa Needs Another Model of Regional Integration
- Author:
- Peter Draper
- Publication Date:
- 03-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Support for regional economic integration in Africa runs high amongst the continent's international development partners and African elites. However, its expression in European forms of economic integration is not appropriate to regional capacities and in some cases may do more harm than good. This lacuna is exacerbated by technical and theoretical analyses rooted either in economics or international relations literature. This article sets out to reconceptualise the foundations of African economic integration by reviewing key debates within each literature and comparing the results across disciplinary boundaries. Overall, it is concluded that a much more limited approach is required, one that prioritises trade facilitation and regulatory cooperation in areas related primarily to the conduct of business; underpinned by a security regime emphasizing the good governance agenda at the domestic level. Care should be taken to design the ensuing schemes in such a way as to avoid contributing to major implementation and capacity challenges in establishing viable and legitimate states. In doing so, the presence of regional leaders with relatively deep pockets - South Africa in the Southern African case - points to the imperative of building such limited regional economic arrangements around key states.
- Topic:
- Development, Economics, and Governance
- Political Geography:
- Africa, Europe, and South Africa
55. Conclusion - Building Regions from Below: Has the Time Come for Regionalism 2.0?
- Author:
- Lorenzo Fioramonti
- Publication Date:
- 03-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- In a changing world ridden with crises and characterized by a general redistribution of power, regional organizations need to reinvent themselves. Equally, the study of regionalism has to reject its traditional Eurocentrism to embrace new conceptual categories in order to describe more effectively the variety of regional processes across the world. Against this background, this article looks the European project and its current crisis before discussing other regional 'experiments' in Africa, Asia and Latin America, which rest on different principles but also manifest considerable shortcomings. The analysis points to need to look at regionalism with a critical eye, emphasizing the undeniably important achievements but also the hidden threats that a certain model of regional integration (for instance, the classical top-down elite-driven process adopted by the EU founding fathers) can pose to the sustainability of regional cohesion and the adaptability of this model to other areas of the world.
- Political Geography:
- Africa, Europe, Asia, and Latin America
56. Overcoming the 'sui generis' Argument? A Look Abroad for EU Studies
- Author:
- Miguel Haubrich-Seco
- Publication Date:
- 03-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Review of: Rethinking EU studies : the contribution of comparative regionalism. A special issue of the Journal of European Integration, edited by Luk Van Langenhove and Alex Warleigh-Lack, Routledge, 2010
- Political Geography:
- Europe
57. Chinese Overseas Investment in the European Union
- Author:
- Kerry Brown
- Publication Date:
- 06-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Chinese overseas investment is a new, and growing phenomenon. In the last decade, there have been exponential increases in how much direct investment is flowing from China, particularly into the resource sector. As the eurozone crisis has deepened since 2008, there has been continuing talk by political and business leaders of investment in Europe being a key target for Chinese companies. And yet, the amounts invested so far come to less than 5 percent of China's global overseas foreign direct investment (FDI) total. In the crucial determinants of Chinese FDI, the EU ranks low. There is therefore a good structural reason why, despite the ambitious talk of the Chinese coming to invest more in vital sectors in the EU, this is not happening at the moment and is not likely to happen until China develops into a middle income, more developed economy.
- Topic:
- Government
- Political Geography:
- United States, China, and Europe
58. US No. 1, China No. 2, or Will it Be the Other Way Round?
- Author:
- Jean-Pierre Cabestan
- Publication Date:
- 06-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Here are three very different books about China's rise and its relations with the world. The first two tend to give the shivers while the third, much more nuanced and balanced, is somewhat reassuring – up to a point. However, the three authors highlight the challenges that China's apparently irresistible re-emergence represent for the world. They also all share a focus on, if not an obsession with the United States which, in spite of its supposed decline, clearly remains in their eyes the ultimate benchmark of leadership and success, neglecting to various degrees other and less classical forces structuring and constraining China's rise, such as the European Union, globalisation, multipolarity and the social media.
- Political Geography:
- United States, China, and Europe
59. Transatlantic Relations Four Years Later: The Elusive Quest for a Strategic Vision
- Author:
- Emiliano Alessandri
- Publication Date:
- 09-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The transatlantic tensions of the Bush years are behind us but the future of transatlantic relations remains uncertain at the closing of the Obama term. Policy alignment has been found on a host of issues but 'existential' questions have resurfaced, casting shadows on Western unity and relevance in the coming years. So far the crisis has failed to focus attention on the need for a common vision for the 21st century. Key strategic issues, from the future of the European order to transatlantic engagement in the Middle East, should figure prominently on the next transatlantic agenda, shifting the debate from the notion of a 'Pacific century' to how the West can address ongoing power transitions.
- Political Geography:
- United States, Europe, and Middle East
60. Crying Wolf Again? The Decline of Western Economic Influence after the Great Recession
- Author:
- Matthias Matthijs
- Publication Date:
- 09-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Since the turn of the millennium, scholars and pundits have been musing over the decline of the West. The disappointing US military invasions in Afghanistan and Iraq, together with the subprime mortgage crisis, seem to be evidence of an abrupt end to America's 'unipolar' moment. In Europe, the sovereign debt crisis has amplified Europe's long-term structural economic problems and laid bare the fragile institutional foundation on which the Economic and Monetary Union was built. At the same time, the BRICs and other emerging economies have been growing at unprecedented rates. Those same analysts see a 'decoupling' in the world economy: the developing economies pulling the world out of recession, while the advanced industrial economies are unable to solve their domestic difficulties. So to them, the events of the past five years signify the beginning of the end of Western influence, eventually leading to a more complete rebalancing of the world economy's current 'Western' system of governance. This article argues instead that the West still has a significant edge when it comes to most critical factors that determine long-term economic growth potential, including technology, innovative capacity, research and development, investment climate and education. Furthermore, the transatlantic economy is less vulnerable than the rest of the world to outside economic shocks and might eventually prove more capable of reform than many expect. The current malaise in the transatlantic community might therefore prove once again to be more cyclical than structural. Relying on linear projections, many are 'crying wolf' again, too loud and too soon.
- Topic:
- Education
- Political Geography:
- Afghanistan, Iraq, America, and Europe