Economic Regionalism Reconsidered

1961 ◽  
Vol 13 (2) ◽  
pp. 231-253 ◽  
Author(s):  
Lincoln Gordon
Keyword(s):  
The United States ◽  
International Markets ◽  
Special Importance ◽  
Foreign Economic Policy ◽  
Industrial Countries ◽  
Economic Relations ◽  
Primary Products ◽  
Structural Relationships ◽  
International Economic Relations ◽  
Do So

During the decade of the 1950's, considerable popularity was won for the idea that the restructuring of the world economy into regional blocs would mark a great forward step in international economic relations, and might also help resolve certain major international political problems. As the new decade begins, and as a new Administration takes office in Washington, it is timely to reappraise the validity of this idea. To do so is not to suggest that regionalism is the most important aspect of foreign economic policy for the new decade. There come readily to mind at least five other major topics: aid for economic development; stabilization of international markets for primary products; the policy of advanced industrial countries toward imports of low-wage manufactured goods from developing countries; the treatment of trade and aid activities of the Communist bloc; and the reduction of the balance-of-payments deficit of the United States. With respect to broad structural relationships, however, the future of economic regionalism is evidently a matter of special importance.

18. Global economy

2012 ◽  
Author(s):  
Peter Gowan ◽  
Doug Stokes
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
American Empire ◽  
Foreign Economic Policy ◽  
Economic Relations ◽  
American Capitalism ◽  
International Economic Relations ◽  
The World ◽  
The Global Financial Crisis

This chapter examines some of the central debates on how we should understand the United States’ efforts to reshape international economic relations since the 1940s. It first considers debates on the sources and mechanisms of American economic strategy before turning to debates about the substance of American efforts to shape the global economy. It approaches the debates about the substance of U.S. foreign economic policy since 1945 by classifying varying perspectives on this question in three alternative images. The first such image is that of America as the promoter of a cooperative, multilateral order in international economics. The second image is that of an American economic nationalism and the third is that of an American empire. The chapter goes on to analyse the global financial crisis and concludes with an overview of some of the main current debates about the strength of American capitalism in the world economy.

New Growth Drivers for Low-Income Countries - The Role of the BRICs

Policy Papers ◽  
2011 ◽  
Vol 11 (99) ◽  
Author(s):  
Keyword(s):  
Low Income ◽  
Emerging Market ◽  
The United States ◽  
Low Income Countries ◽  
The European Union ◽  
Industrial Countries ◽  
Economic Relations ◽  
International Economic Relations ◽  
Potential Benefits

The emergence of BRICs—Brazil, Russia, India, and China—is reshaping low-income countries’ (LICs) international economic relations. While industrial countries remain LICs’ dominant development partners, LIC-BRIC ties have increased so rapidly over the past decade that BRICs have become new growth drivers for LICs. Trade with BRICs is already close to half of the value of combined trade with the European Union and the United States, and larger than with other emerging market economies. BRIC FDI and development financing are making a significant impact in some key areas despite their relatively small volumes compared with those from advanced countries. Beyond the increased flows of goods and capital, BRICs have brought new dynamics in LICs’ economic relations with the rest of the world, complementing as well as competing with OECD partners. Nevertheless, while potential benefits from the LIC-BRIC ties are enormous, there are challenges and risks in realizing such benefits.

scholarly journals THE POSITION OF THE FINANCIAL COMPONENT IN THE PARADIGM OF MODERN ECONOMIC DIPLOMACY

2021 ◽  
Vol 7 (3) ◽  
pp. 186-194
Author(s):  
Kostyantyn Flissak ◽  
Darya Glukhova
Keyword(s):  
International Economic ◽  
Public Debt ◽  
Economic Activity ◽  
Scientific Research ◽  
The United States ◽  
Special Role ◽  
Economic Relations ◽  
Economic Diplomacy ◽  
International Economic Relations ◽  
The Impact

At the beginning of the 21st century, most subjects of international economic relations announced a course to liberalize the world economy both as a whole and as its individual components. At the same time, under the influence of geopolitical and geo-economic aspirations, state instruments of a protectionist nature were increasingly used. Global economic development has become a hostage to such processes. In such circumstances, the efficiency of individual business entities has begun to decline. Innovative tools were needed to prevent this. One of them was economic diplomacy, which has acquired a special role in providing the promotion of the interests of both national economies as a whole and their individual subjects. At the same time, economic diplomacy itself covers different areas of economic activity and not all of them are investigated to the same extent. The purpose of the article is to study and analyze the financial component of economic diplomacy in modern conditions, the specifics of its formation and development, aimed at improving the national system of promoting national interests both within the state and abroad. To achieve this goal, the research is focused on the following tasks: to consider and analyze the theoretical basis of the financial component of economic diplomacy, to highlight its manifestations in various forms of international economic relations, to determine the main imperatives of state support for international investment partnership. Special attention is paid to the issues of external borrowing and the movement of public debt funds from the point of view of the influence of economic diplomacy on them. Based on the results of this review, a whole number of theoretical conclusions were made, which at the same time establish the basis for further research of the considered problem. Methodology. In the process of preparing the article, methods of scientific abstraction, observation, analysis and synthesis, generalization, as well as statistical and economic methods were used to assess a number of financial and economic indicators of state development in order to identify the weaknesses and prospects for the impact of economic diplomacy tools on them. The information and analytical base for the study are materials and analytical reports of international organizations dealing with the issues under consideration (UNCTAD, IMF, World Bank), regulatory and statistical data of state authorities of Ukraine and the United States, the results of scientific research of modern scientists from different countries. The results of the study show that providing the proper efficiency of foreign economic activity requires the use of a set of tools to promote and support its subjects. Economic diplomacy plays a significant role in this sphere. The development level of international economic relations actualizes the justification of the modern paradigm of the financial component, mechanisms for applying the tools of economic diplomacy in financial issues. All this requires a clear delineation and structuring of object-by-object areas and directions of efforts. Only on this basis, an effective mechanism for implementing the financial component of economic diplomacy can be formed. The practical implications of the scientific research are to find out the current state of economic diplomacy mechanisms in the financial sphere, trends in their development, and potential consequences for other states (including Ukraine). Value/originality. The studied mechanisms and practice of using economic diplomacy in the sphere of the financial component, in particular in issues of interstate investment partnership, external government borrowing, and work with public debt deserve attention from the relevant state structures of Ukraine on the implementation of tools and standards of economic diplomacy in this area. In addition, this study can serve as a basis for further research, since the considered problem contains the significant potential for further investigations in subsequent scientific publications.

scholarly journals International relations of the Ukrainian economy as a object of historico-economic research

2019 ◽  
Vol 2019 (52) ◽  
pp. 31-48
Author(s):  
Victoria Nebrat
Keyword(s):  
International Economic ◽  
Economic Policy ◽  
Structural Changes ◽  
Theoretical Background ◽  
Economic Research ◽  
Historical Sources ◽  
Foreign Economic Policy ◽  
Economic Relations ◽  
Historical Factors ◽  
International Economic Relations

The purpose of this publication is to present the main idea, conceptual and methodological foundations, theoretical background, sources and directions of the study of the historical development of foreign economic relations of the Ukrainian economy. Finding ways for Ukraine to abandon the pattern of import dependent development and low-tech export is an urgent scientific and practical task. Historical factors play an important role in determining the country’s international specialization and position in world markets. The object of the study is the historical process of the inclusion of Ukraine’s economy in the system of international economic relations. Regularities, trends and national peculiarities in the formation of foreign economic relations of Ukraine’s economy are the subject of the study. The economic methodology of the study is based on an evolutionary-institutional approach. Traditional and contemporary theories of international trade, economic integration, foreign economic policy, international competition and national competitiveness are the theoretical foundations of the study. Analysis of historical sources opens up problem areas of scientific research and gives grounds for forming its working hypotheses. Studying the history of foreign trade, labor migration, participation in international monetary relations, international cooperation of production and the relationship of structural changes in the economy with the forms of international economic relations are the main fields of the investigation. Historical research is the basis for making proposals on optimization of the national foreign economic policy with the purpose of strengthening the economic sovereignty of the state, development of the national economy and ensuring its international competitiveness.

US-China trade war: Russia's risks

2020 ◽  
Vol 17 (2) ◽  
pp. 56-65
Author(s):  
O. V. Ignatova ◽  
O. A. Gorbunova
Keyword(s):  
United States ◽  
The United States ◽  
Economic Relations ◽  
China Trade ◽  
International Economic Relations ◽  
The Us ◽  
The World ◽  
The Russian Federation ◽  
Trade War ◽  
The Impact

The article is devoted to one of the urgent problems of the world economy: the trade opposition of the United States and China. Due to the fact that these countries occur to be the largest economies in the world, their conflict cannot in one way or another be reflected in other subjects of international economic relations. The article analyzes the main stages of the trade war between the United States and China and formulates the causes of the crisis.On the basis of a regional approach and analysis of statistical data it became possible to make an assessment of the effects that the US-PRC rivalry has on mutual trade, investment and energy cooperation between Russia and China. It is noted that in connection with the trade conflict, Russian-Chinese relations are reaching a new level of development, the number of joint economic projects is growing. However, the confrontation between the United States and China brings not only opportunities, but also risks for Russia. The authors make a forecast about the impact of the trade war on the economy of the Russian Federation in the short and medium term.

The Fall of Silver in Mexico, 1870–1910, and Its Effect on American Investments

1958 ◽  
Vol 18 (1) ◽  
pp. 33-55 ◽  
Author(s):  
David M. Pletcher
Keyword(s):  
International Economic ◽  
World War Ii ◽  
The United States ◽  
United States Government ◽  
World War ◽  
Economic Relations ◽  
The Past ◽  
Small Wars ◽  
International Policies ◽  
International Economic Relations

Since the end of World War II Americans interested in international economic affairs have faced a painful dilemma. Almost every set of international policies advanced during this period has called for the widespread use of American capital to assist in the development of underdeveloped areas in Latin America, Asia, and Africa. The United States government has furnished much of this capital during the last decade, but private capital has borne a share of the effort in the past and may well be called upon for a larger share in the future. Unfortunately, in a period of frequent small wars, revolutions, and expropriations, American investors naturally hesitate to send their capital abroad if they can invest it profitably at home. One of the most vexing problems in modern international economic relations is that of predicting or assuring regular returns from American investments abroad.

Developments in the Law and Institutions of International Economic Relations–The Kennedy Round of Trade Negotiations

1968 ◽  
Vol 62 (2) ◽  
pp. 403-434 ◽  
Author(s):  
John B. Rehm
Keyword(s):  
United States ◽  
International Economic ◽  
The United States ◽  
Trade Negotiations ◽  
Kennedy Round ◽  
Economic Relations ◽  
International Economic Relations ◽  
Multilateral Agreements ◽  
The World ◽  
International Obligations

On June 30, 1967, in Geneva, Switzerland, Ambassador W. Michael Blumenthal, acting at the direction of the President, signed five multilateral agreements on behalf of the United States. He and the representatives of 45 other countries thereby concluded the Kennedy Round of trade negotiations and formalized an elaborate set of international obligations which, over a period of four years, would see the most extensive liberalization of trade ever achieved through co-operative action on the part of the trading countries of the world.

Capitalism's Fellow Traveler: The Soviet Union, Bretton Woods, and the Cold War, 1944–1958

2014 ◽  
Vol 56 (2) ◽  
pp. 290-319 ◽  
Author(s):  
Oscar Sanchez-Sibony
Keyword(s):  
Cold War ◽  
Soviet Union ◽  
World Order ◽  
Point Of View ◽  
Foreign Economic Policy ◽  
Economic Relations ◽  
The Soviet Union ◽  
Economic Engagement ◽  
The Cold War ◽  
Do So

AbstractThis paper is a reinterpretation of the origins of the Cold War from a novel point of view: Soviet foreign economic policy. It questions two fundamental concepts that have formed the basis for our understanding of that conflict: Soviet autarky, and bipolarity. Soviet autarky has been the basis for an understanding of a “war” that, although never fought on military terms, needed two sides to be so conceptualized. Just as enemies in war can have no areas of meaningful cooperation, so did academics require of these Cold War rivals an all-encompassing enmity. To do so they came to consider the Soviet Union a camp apart, unconnected and hostile to the capitalist order. Scholars required a Soviet Union politically committed to autarky. Using archives from Moscow, however, the article argues that the Soviet Union was not autarkic by political choice and, at length, not autarkic at all. It followed a similar trajectory in international economic engagement as that of the countries in the so-called free world, and what's more, sought to do so. In other words, when one looks at the political economy of Soviet economic relations, the conceptual framework of bipolarity that sustains much of the work on the Cold War becomes difficult to maintain. Instead, I argue, an immensely powerful liberal world order acted on the Soviet Union in ways that should be familiar to scholars of global capitalism.

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