3. A historical departure

2016 ◽  
pp. 36-50
Author(s):  
Andrew F. Cooper
Keyword(s):  
United States ◽  
Decision Making ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
The United States ◽  
European Countries ◽  
Global System ◽  
The Core ◽  
Brics Countries ◽  
New Type

‘A historical departure’ describes how the BRICS, as both a diplomatic project and an international institution, is different from past groups. The catalyst for the BRICS members’ new type of engagement—mainly via the G summits and the outreach process—was the growing economic and political weight of the BRICS countries, coupled with the apparent decline of the United States and European countries in the aftermath of the 2008 global financial crisis. This raised questions about the appropriateness of existing rules and governance structures. In order for the global system to work, the BRICS needed to be accorded a greater role in the core decision-making bodies.

The Economic Rise of China

Asian Survey ◽  
2017 ◽  
Vol 57 (4) ◽  
pp. 595-617 ◽  
Author(s):  
Zhaohui Wang
Keyword(s):  
United States ◽  
Financial Crisis ◽  
International Institutions ◽  
Global Financial Crisis ◽  
The United States ◽  
Policy Response ◽  
The Core ◽  
Rise Of China ◽  
The Global Financial Crisis ◽  
Rising Power

This paper examines the symbiotic but asymmetric relationship between the United States as the core and China as the semi-periphery. It argues that China’s policy response in both domestic and international domains after the global financial crisis reveals that China as a rising power is no longer a rule-taker, but between a rule-maker and a rule-breaker that adds incremental reforms to current international institutions.

A Global Perspective on Securitized Debt

2018 ◽  
Author(s):  
Steven L Schwarcz
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Capital Market ◽  
Global Financial Crisis ◽  
The United States ◽  
Global Perspective ◽  
Capital Markets Union ◽  
The Global Financial Crisis ◽  
Asset Backed Securities ◽  
The Eu

Securitisation represents a significant worldwide source of capital market financing. European investors commonly invest in asset-backed securities issued in U.S. securitisation transactions, and vice versa One of the key goals of the European Commission's proposed Capital Markets Union (CMU) is to further facilitate securitisation as a source of capital market financing as a viable alternative to bank-based finance for companies operating in the EU. To that end, this chapter explains securitisation and attempts to put its rise, its decline after the global financial crisis, and its recent CMU-inspired revival into a global perspective. It examines not only securitisation's relationship to the financial crisis but also post-crisis comparative regulatory approaches in the EU and the United States.

“A Change in the Balance of Power”

2021 ◽  
pp. 159-182
Author(s):  
Rush Doshi
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Balance Of Power ◽  
The United States ◽  
Grand Strategy ◽  
Chinese Leader ◽  
Regional Order ◽  
Balance Of Forces ◽  
The Global Financial Crisis

Chapter 7 explores the dawn of China’s grand strategy to build regional order as well as the ends, ways, and means of this strategy. Using Party texts, it explores how the shock of the Global Financial Crisis led China to see the United States as weakening and emboldened it to take a more assertive course. It begins with a thorough review of China’s discourse on “multipolarity” and the “international balance of forces,” concepts China uses as euphemisms for US power and which it ties to its strategic guidelines. It then shows that the Party sought to lay the foundations for order—coercion, inducements, and legitimacy—under the auspices of the revised guidance “actively accomplish something” issued by Chinese leader Hu Jintao in 2009. This strategy, like blunting before it, was implemented across multiple instruments of statecraft—military, political, and economic.

scholarly journals The legend of Saint Alan: Larnaudie and Stiegler in the Oversight Committee Room

2020 ◽  
Vol 31 (3) ◽  
pp. 173-184
Author(s):  
Calum Watt
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Federal Reserve ◽  
House Of Representatives ◽  
Global Financial Crisis ◽  
The United States ◽  
Government Reform ◽  
The Us ◽  
Oversight Committee ◽  
Bernard Stiegler

Ten years on from the 2008 global financial crisis, this article sets in dialogue two French treatments – by the novelist Mathieu Larnaudie and the philosopher Bernard Stiegler – of footage of the 2008 testimony of Alan Greenspan, former chairman of the US Federal Reserve, before the United States House of Representatives Committee on Oversight and Government Reform. The article introduces and compares the concepts of ‘effondrement’ and ‘prolétarisation’ developed by the two writers in relation to the Greenspan hearing, and analyses how both understand the question of ideology as it emerges in the hearing. Informed by interviews conducted by the author with Larnaudie and Stiegler, the piece concludes by discussing the notion common to both writers that Greenspan is a ‘saint’ of the crisis.

scholarly journals “Only Applies to Research Conducted in Sweden…”: Dilemmas in Gaining Ethics Approval in Transnational Qualitative Research

2019 ◽  
Vol 18 ◽  
pp. 160940691986944
Author(s):  
Gabriele Griffin ◽  
Doris Leibetseder
Keyword(s):  
United States ◽  
Decision Making ◽  
Qualitative Research ◽  
Research Ethics ◽  
European Commission ◽  
The United States ◽  
Ethical Conduct ◽  
European Countries ◽  
Health Related ◽  
Research Ethics Boards

Transnational research funders such as the European Commission and NordForsk increasingly require researchers to conduct transnational research. Yet, there is little research on what this means for seeking ethics approval, not least for qualitative researchers. Much work on ethics approval comes from Canada, the United States, and other Anglophone countries, often in a health-related context, and centers on issues between researchers and research ethics boards (REBs), or on inconsistent or inappropriate decision-making by REBs. Ethical conduct within research has, of course, generated a rich literature but not on gaining ethics approval when conducting qualitative transnational research. Rather, the underlying situation usually is that the research is conducted in the same geopolitical space as where the REB is located. Drawing on two cases studies, in which researchers located in one country, Sweden, sought ethics approval to conduct research in other European countries, we explore some of the challenges that we faced in gaining such approval and provide some suggestions how this process might be made both more efficient and more productive for researchers and research funders alike.

Editorial Introduction to the Symposium on the Global Financial Crisis

2009 ◽  
Vol 17 (2) ◽  
pp. 103-108 ◽  
Author(s):  
Sam Ashman
Keyword(s):  
United States ◽  
Political Economy ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Global Financial Crisis ◽  
Banking System ◽  
Financial System ◽  
The United States ◽  
Editorial Introduction ◽  
The Global Financial Crisis

AbstractThe current global economic crisis is historically unprecedented in that it began when poor groups in the United States defaulted on their mortgage-payments and spread fear of 'toxic debt' through an internationalised financial system, bringing the banking system close to collapse and highlighting the very individualised nature of contemporary financial relations. The symposium explores contemporary finance and banking practices in the context of Marxist political economy seeking to develop the notion of financialisation and arguing that banks' increasing reliance on individual households as a source of profits amounts to a form of financial expropriation or additional profit generated in the sphere of circulation.

scholarly journals Nervous Giant: China and the Financial Crisis

2011 ◽  
Vol 8 (1) ◽  
pp. 8-11
Author(s):  
Patrick Farrell
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
Policy Decisions ◽  
Trade Relationship ◽  
Current Financial Crisis ◽  
The Stability ◽  
The Global Financial Crisis

While the current financial crisis is widely acknowledged to be global, surprisingly little attention has been paid to its effect on one of the largest players in the global economy. China has weathered the crisis extremely well, though its growth has slowed slightly. I will analyze this by looking at China’s purchases of debt, the Chinese holdings of debt in the United States and its growing holdings in Europe, and the policy decisions directing this. This shows an intriguing change in the policy decisions that led to China becoming such a large holder of American debt. China amassed its large holdings of debt from the United States by merit of the strong trade relationship between the two countries, as well as the stability of the U.S. dollar. However, China’s interest in buying up Italian debt and forming stronger bonds with other Eurozone and European countries seems to speak to a different motive. Rather than allowing its reserves of foreign capital to grow over time, as it did with its U.S. debt, China is making a more aggressive move in this case. Thanks to its relative stability during the crisis, I believe this shows us that China is seeking to both ensure the continued security of its economic growth and increase its economic influence, thus using the instability of the global financial crisis to kill two birds with one stone.

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