The architecture of global economic and financial governance has undergone a deep and pervasive reform in the last ten years, radically transforming international institutions and groups, such as the International Monetary Fund, the G7, and the G20. This book investigates the new, unsettled order which is now prevailing, driven by the change in the balance of power between advanced economies and key emerging market economies. Bringing together multiple strands of analysis, traditionally kept separate, Reforming Global Economic Governance: An Unsettled Order particularly explores the role of Europe within this changing world. The book documents and examines a broad range of events, building on methods from economics and other disciplines, as well as on the insights from the author’s personal involvement. This innovative approach allows the reader to ascertain the defining features of the reform: the increasing fragmentation of governance; the interconnectedness of its different elements; and the strong concern for inclusiveness. Furthermore, it presents analyses highlighting the controversial nature of the new order which underpins the current policy debate on international economic relations, including the resurgence of nationalism and trade conflicts. Through these explorations, this engaging book has direct relevance for the future prospects of international economic affairs. Offering a comprehensive view of these issues, this accessible text will appeal to scholars, insiders, and the general reader. Its detailed and thorough analyses will also be of great use to those studying economics, international political economy, and international relations.

This book of essays, written in honour of Professor David Trubek, explores many of the themes which he has himself written about, most notably the emergence of a global critical discourse on law and its application to global governance. As law becomes ever more implicated in global governance and as processes related to and driven by globalisation transform legal systems at all levels, it is important that critical traditions in law adapt to the changing legal order and problématique. The book brings together critical scholars from the EU, and North and South America to explore the forms of law that are emerging in the global governance context, the processes and legal roles that have developed, and the critical discourses that have been formed. By looking at critical appraisals of law at the global, regional and national level, the links among them, and the normative implications of critical discourses, the book aims to show the complexity of law in today's world and demonstrate the value of critical legal thought for our understanding of issues of contemporary governance and regulation. Scholars from many countries contribute critical studies of global and regional institutions, explore the governance of labour and development policy in depth, and discuss the changing role of lawyers in global regulatory space.

This book focuses on the recent rise of new regional economic institutions such as the Chiang Mai Initiative Multilateralisation, the Asian Infrastructure Investment Bank, and the Regional Comprehensive Economic Partnership, which were established, in part, as a result of dissatisfaction of dynamic emerging markets with global economic institutions such as the IMF, the World Bank, and the GATT/WTO. The latter were formed by advanced economies in the West, after the historic Bretton Wood Conference of 1944. In doing so, the book addresses how this recent round of decentralisation, defined as the co-existence of “senior” global institutions and a plethora of newly-established regional institutions, has affected global economic governance, and the delivery of global public goods. It also poses the question if this has led to the fragmentation of global economic governance. The book adds value to existing literature by using a benefit-risk analytical framework to study the decentralisation process. Unlike the “contested multilateralism” argument used by some authors which focuses on the costs of decentralisation, the authors argue that benefits must also be considered. It also describes and analyses the establishment of global and regional international economic institutions and the evolving relationships between the two. Third, the authors argue that this decentralisation process will continue in the postpandemic period and recommend policies to reset the relationship between global and regional institutions. And lastly, the book discusses proposals to reform the international monetary system including the global reserve system with a view to reducing the hegemony of the US dollar. Throughout the book, the role for Asia is also identified, and elaborated on.

This book explores the establishment process, mechanism design, and role orientation of the Asian Infrastructure Investment Bank (AIIB) under the new background of global economic governance. After the international financial crisis in 2008, the process of economic globalization and the comparison of international forces have presented a new situation, and the global economic governance system since has entered a period of deep adjustment and transformation. At the same time, the problems and drawbacks of the original multilateral development financial system have become increasingly prominent. This not only provides a historical opportunity for the establishment of the AIIB, but also gives it a new important role in the global multilateral development financial system. The innovation of the AIIB’s governance model, such as organizational structure, equity, and voting rights allocation, makes it more efficient in operation. And in practice, it is playing an increasingly important role in promoting policy connectivity, infrastructure connectivity, trade connectivity, financial connectivity and people-to-people connectivity of Asian region.

Kirton offers a comprehensive, systematic examination of China’s G20 approach, diplomacy and influence since the G20’s start as a forum for finance ministers and central bankers in 1999. This comprehensive reference tool works its way through China’s elevation to the leaders’ level with summits from 2008-2014, to the prospects for its Antalya Summit in November 2014 and above all China’s first summit as host in Hangzhou in the autumn of 2016. This book contains a full treatment of China’s role in the summits from 2011 to 2014, and China’s plans, role and prospects for the summits in 2015 and 2016. Analytically, it develops and tests at the level of a single member country the systemic hub model of G20 governance that was developed for and guided in Kirton’s 2013 book, G20 Governance for a Globalized World.

Moving beyond a self-indulgent attitude about Africa’s historical victimhood, the book seeks to capture how African states individually and Africa’s collective institutions (the AU) are providing agency in Africa’s international relations. While African states have been trailblazers in such ideas as ‘The Responsibility to Protect’, as conceived in the African Union Constitutive Act (2001) which preceded the United Nations (UN) Secretary General’s report “In Larger Freedom” (2005) in which the UN adopted the concept, African agency in international relations has not always been captured proactively. This volume seeks to document Africa (and African states) in a state of proactivity as opposed to a reactionary mode of international relations which has long been the case due to the discipline’s heavy concentration on the West. The main themes explored are: African agency in international relations and commerce, agency in Africa’s balancing of big and regional powers, reshaping Africa-EU relations beyond the Cotonou Agreements, Africa and international human rights institutions, African efforts in elections and conflicts in Africa and relationship building among African leaders.

This insightful Research Agenda takes a thematic approach to analysing reform in regional and local government, exploring central concepts such as devolution, Europeanisation and globalisation. Expert contributors address key trends in structural change and reorganisation, subnational autonomy and decentralisation, metropolitan governance, and multi-level governance.

This edited volume explores the analytical possibilities of contrasting Brazil and the United Kingdom as examples of emerging and established powers, respectively. It is organised around several themes focusing on the roles of Brazil and the United Kingdom in the management of global economic governance, international development, international security, the politics of regional integration, global climate change governance, and the political leveraging of sports mega-events. Each chapter explores Brazil’s and/or the UK’s particular foreign policies and their resulting impact on these key areas of global governance and politics. The conceptual focus is on these states’ motivations as either status-seekers (Brazil) or status-maintainers (UK) in the context of a fast moving international landscape. The chapters in this book directly or indirectly indicate that these states wish to draw attention to their aspiring or established positions as key global players through either visible foreign policy action and/or symbolic rhetoric. This book was originally published as a special issue of Global Society.

This textbook enables students to apply the theory and approach of International Relations to environmental challenges facing a complex international political system.