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11091. Sovereign Bankruptcy in the European Union in the Comparative Perspective

Author:
Leszek Balcerowicz
Publication Date:
12-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This paper distinguishes four alternative sovereign debt resolution mechanisms: pure market solutions, modified market solutions, crisis lending by the IMF and other institutions, and the proposed Sovereign Debt Restructuring Mechanism (SDRM). It is hard to find—at the general level of analysis—the unique advantages of SDRM. The assessment of the European Stabilization Mechanism will ultimately depend on its operation, especially whether it will be a tool of subsidizing countries in debt distress or an instrument of fiscal crisis lending. The present fiscal problems in the eurozone are due to the erosion of fiscal discipline and not to the lack of strong compensatory transfers within the eurozone. The right model to look at the conditions for the stability of the eurozone is not a single state but the gold standard–type system, a system of sovereign states with a (de facto) single currency. Based on this analogy and considering modern developments, three types of measures are needed to safeguard the stability of the eurozone: (1) measures that would reduce the procyclicality of the macroeconomic policies and of the economy; (2) reforms that would help the eurozone economies grow out of increased public debt; and (3) steps to increase the flexibility of the economy so that it can deal with the future shocks in a better way.
Topic:
Debt, Economics, Markets, Monetary Policy, and Financial Crisis
Political Geography:
Europe

11092. Trade Disputes Between China and the United States: Growing Pains so Far, Worse Ahead?

Author:
Gary Clyde Hufbauer and Jared C. Woollacott
Publication Date:
12-2010
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This study covers the history of Sino-US trade relations with a particular focus on the past decade, during which time each has been a member of the World Trade Organization (WTO). Providing a brief history of 19th and 20th century economic relations, this paper examines in detail the trade disputes that have arisen between China and the United States over the past decade, giving dollar estimates for the trade flows at issue. Each country has partaken in their share of protectionist measures, however, US measures have been characteristically defensive, protecting declining industries, while Chinese measures have been characteristically offensive, promoting nascent industries. We also cover administrative and legislation actions within each country that have yet to be the subject of formal complaint at the WTO. This includes an original and comprehensive quantitative summary of US Section 337 intellectual property rights cases. While we view the frictions in Sino-US trade a logical consequence of the rapid increase in flows between the two countries, we caution that each country work within the WTO framework and respect any adverse decisions it delivers so that a protracted protectionist conflict does not emerge. We see the current currency battle as one potential catalyst for such conflict if US and Chinese policymakers fail to manage it judiciously.
Topic:
Economics, International Trade and Finance, Markets, and Bilateral Relations
Political Geography:
United States and China

11093. Chief of Mission Authority as a Model for National Security Integration

Author:
Edward Marks and Christopher J. Lamb
Publication Date:
12-2010
Content Type:
Working Paper
Abstract:
The inability of the President of the United States to delegate executive authority for integrating the efforts of departments and agencies on priority missions is a major shortcoming in the way the national security system of the U.S. Government functions. Statutorily assigned missions combined with organizational cultures create “stovepipes” that militate against integrated operations. This obstacle to “unity of effort” has received great attention since 9/11 but continues to adversely affect government operations in an era of increasingly multidisciplinary challenges, from counterproliferation to counterinsurgency in Afghanistan. Presidents have tried various approaches to solving the problem: National Security Council committees, “lead agencies,” and “czars,” but none have proven effective.
Topic:
Foreign Policy and Governance
Political Geography:
United States

11094. Drug Production and Trafficking, Counterdrug Policies, and Security and Governance in Afghanistan

Author:
Jonathan P. Caulkins, Mark A.R Kleiman, and Jonathan D. Kulick
Publication Date:
06-2010
Content Type:
Working Paper
Institution:
Center on International Cooperation
Abstract:
Drug production and drug trafficking are effects as well as causes of political instability. They flourish under weak states and sustain that weakness by financing insurgency and warlordism and by intimidating or corrupting the officials of enforcement agencies and security forces. Afghanistan is a primary instance of this complex of social and political pathologies.
Topic:
Security, Government, War on Drugs, Counterinsurgency, Narcotics Trafficking, and Governance
Political Geography:
Afghanistan

11095. Globalization and Scarcity: Multilateralism for a world with limits

Author:
Alex Evans
Publication Date:
11-2010
Content Type:
Working Paper
Institution:
Center on International Cooperation
Abstract:
Globalization has improved the living standards of hundreds of millions of people – but growing resource scarcity means it risks becoming a victim of its own success. Left unaddressed, scarcity of food, energy, water, land and other key 'natural assets' has the potential to trigger intensifying zero sum competition between states – in the process, increasing poverty, state fragility, economic instability, inflation, and strategic resource competition between major powers.
Topic:
Security, Agriculture, Economics, Energy Policy, Environment, Globalization, Natural Resources, Water, and Food
Political Geography:
Global Focus

11096. Conjuring Spirits from the Vasty Deep: A User's Guide to Proposals for Strengthening UN Civilian Capacity in Peace Operations

Author:
Eric Morris
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Center for International Security and Cooperation (CISAC), Stanford University
Abstract:
Although civilian specialists in peace operations have been in short supply, the same cannot be said of proposals to alleviate the problem. Governments, non - governmental organizations, think tanks, and even the United Nations itself have issued reports to address the civilian deficit in peace operations. Most of these papers acknowledge that there has been halting improvement over time, but express concern over a wide array of gaps and shortages in response capacity. Almost all agree that demand will continue to outrun supply. Almost all warn that failure to close the gaps and address the shortages will call into question the credibility and legitimacy not only of international peace operations but also of the fragile national and local institutions that these operations hope to build.
Topic:
Conflict Resolution, Conflict Prevention, Civil Society, Peace Studies, United Nations, and Peacekeeping

11097. North Korea's Yongbyon Nuclear Complex

Author:
Siegfried S. Hecker
Publication Date:
11-2010
Content Type:
Working Paper
Institution:
Center for International Security and Cooperation (CISAC), Stanford University
Abstract:
On November 12, during my most recent visit to the Yongbyon Nuclear Complex with Stanford University colleagues John W. Lewis and Robert Carlin, we were shown a 25 to 30 megawatt-electric (MWe) experimental light-water reactor (LWR) in the early stages of construction. It is North Korea's first attempt at LWR technology and we were told it is proceeding with strictly indigenous resources and talent. The target date for operation was said to be 2012, which appears much too optimistic.
Topic:
Defense Policy, Energy Policy, Nuclear Weapons, and Weapons of Mass Destruction
Political Geography:
Asia and North Korea

11098. Beyond the 'New Horizon': Proceedings from the UN Peacekeeping Future Challenges Seminar, Geneva, 23–24 June 2010

Author:
Cedric H. de Coning, Thierry Tardy, and Andreas Øien Stensland
Publication Date:
06-2010
Content Type:
Working Paper
Institution:
The Geneva Centre for Security Policy
Abstract:
The past decade has seen a nine-fold increase in UN peacekeeping operations. With over 123,000 deployed personnel across 16 missions, and at a cost of approximately USD 8 billion per year, the scale of United Nations (UN) peacekeeping today is unprecedented. While prior reforms have enabled growth and helped to define the core strengths of operations, UN peacekeeping now finds itself, once again, at a crossroads: 'The scale and complexity of peacekeeping today are straining its personnel, administrative and support machinery.' The peacekeeping partnership is under stress – among contributors, the Security Council, and the UN Secretariat. Several current peacekeeping missions are deployed beyond their doctrinal and capacity comfort zones.
Topic:
International Cooperation, Peace Studies, Regional Cooperation, United Nations, International Affairs, and Peacekeeping
Political Geography:
United States

11099. Cooperating for Peace: The Challenges and Promises of Partnerships in Peace Operations

Publication Date:
07-2010
Content Type:
Working Paper
Institution:
The Geneva Centre for Security Policy
Abstract:
In the over two decades since UN peacekeepers won the Nobel Peace Prize in 1988, the mechanisms and means for providing peacekeeping “supply” where it is needed continue to bedevil policy makers and those on the ground tasked with the difficult job of international intervention. Today, the peacekeeping agenda is packed with concerns such as the protection of civilians, peacekeeping when there is no peace to keep, managing spoilers, balancing humanitarian, peacebuilding and development imperatives, and the realization that vulnerability to relapse into conflict means that peacekeepers may be required for years and indeed decades to come.
Topic:
Humanitarian Aid, International Cooperation, Peace Studies, United Nations, and Peacekeeping

11100. Safety and Security in the Biotechnological Age

Author:
Marc Finaud and Sunjay Chandiramani
Publication Date:
07-2010
Content Type:
Working Paper
Institution:
The Geneva Centre for Security Policy
Abstract:
In many ways, the world is at the beginning of what some are already calling the “Biological Century.” Discoveries in the life sciences have the potential to reshape the worlds of health, food production, energy, and climate change, to produce new fuels, heat- and drought-resistant food crops, and to eradicate deadly diseases. But biotechnological discoveries also have a dark side – potential immense harm may be caused through accidental or intentional release of designer pathogens. The globe is also facing a myriad of natural biological threats. Fifteen million people die each year of deadly infectious diseases, with new ones emerging every year, such as Severe Acute Respiratory Syndrome (SARS) and Avian Flu. In a world of 700 million international air passengers yearly, and almost all on flights shorter than the incubation period of infectious diseases, national health has become only as safe as global health.
Topic:
Security, International Cooperation, Treaties and Agreements, and Weapons of Mass Destruction
Political Geography:
United Nations