Italy’s China policy is becoming more hard-line

Significance However, since then, Rome has become increasingly hawkish over China, a shift which has intensified under Prime Minister Mario Draghi’s period in office. Draghi has already blocked three Chinese acquisitions of Italian firms this year, and stated he will assess Italy’s future participation in the BRI. Impacts Beijing’s decision to impose economic sanctions on Lithuania will put pressure on the EU to adopt a tougher China policy. EU fiscal and monetary support should reduce the appeal of hard-line Eurosceptism in Italy. Italy will be slow to advance projects envisaged under the 2019 MoU, although a future economic downturn could alter the dynamics.

Is There a Philosophy of Statesmanship?

This essay assumes that readers will be familiar with Wight’s analysis distinguishing three traditions of thinking about international politics and will therefore recognize ‘three types’. The ‘three groups’, Wight observes, consist of (1) ‘idealists’ and ‘revolutionaries’ and ‘Utopians’ committed to serving the ‘general will’ and ‘the cause’; (2) ‘moralists’ and ‘Grotians’ dedicated to upholding treaties and the rule of law; and (3) ‘realists’ and ‘Machiavellians’ concerned with calculating how to defend and advance ‘the national interest’. With regard to survival imperatives, however, Wight holds that ‘all statesmen are realists’. He also qualifies this exposition of three traditions of thinking about international relations by pointing out that some Grotians and moralists have championed ‘a different Utopia’, an ideal distinct from the revolutionary uniformity sought by certain religions and ideologies. This different Utopia was the League of Nations, an institution designed to bring about a peaceful universal legal order. The League’s advocates expected a majority of nations, backed by world public opinion, to maintain peace and order through rational appeals and, if necessary, economic sanctions, with war as a final recourse to restore international amity.

Possible Effects Of A Russian-Chinese Joint SWIFT System On The Eurasian Economy And The World Trade System

The Society for Worldwide Interbank Financial Telecommunications, called SWIFT, is considered a cornerstone of global transactions. At its founding, SWIFT membership amounted to 239 banks from fifteen Western countries. Past examples show that SWIFT can also be used as a weapon, even though it is nominally independent. Recent statements indicate that the US and the EU are seriously considering removing Russia from the SWIFT system in case of tension. In fact, back in 2014 after Russia annexed Ukraine's Crimea Peninsula, there were calls to cut Russia off from SWIFT. In response, Russia developed a its domestic financial-communications platform. It should be taken into account that in case certain Russian banks are disconnected from SWIFT, these Russian banks and multinationals looking for ways to move money may find a warm welcome in the growing Chinese Cross-border Interbank Payment System (CIPS). In recent years, there has been a significant increase in both the EU and the US use of economic sanctions to force other countries they consider as adversaries "in line" with Western interests. Being in the same alliance no longer suffices in guaranteeing exclusion from such economic sanctions. On the contrary, such sanctions have been turned into a teaching lesson even to allies, and it is undeniable that this behavior has reached a level that will shake even the strongest alliances. It should also be kept in mind that this contemptuous approach erodes the patience of the public opinions of the countries that are not included in the Western World or constantly excluded despite being in that group. It is unlikely that the results of employing sanctions, which has become a habit for the US and the EU, to the most significant countries of the world, such as Russia and China, in terms of their military power as well as their economies, will lead to beneficial results. The developments in the coming period may serve as a reminder that the Western world must act with common sense to avoid sowing divisions in the world trade system.

Typology and effects of economic sanctions on foreign trade

Economic sanctions are defined in the dictionary of economics, in general, as ,,prohibitive economic measures applied by the international community on the export and/ or import of material goods, services, resources, etc. to or from a particular country”. The types of sanctions range from personal restrictions to almost total bans on international trade with one or more countries, which can be extended even to restrictions on legal rights such as trademark protection and other intellectual property. Sometimes sanctions can be included as part of protectionist measures representing behaviors designed to increase wealth without creating wealth, the most famous cases being attempts to force a country's authorities into desirable political action. Usually, these attempts target political and economic leaders, businesses and assets that are considered vulnerable to external pressures. Although some doubt the effectiveness of sanctions, the prevailing opinion is slightly in their favor.