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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