As China continues its rise as a great power, The United States Congress and the administration wrestle with one another over the strategies to shape US-China economic relations. What major disputes now, and looming on the horizon, will shape future US-China relations? This book examines these issues and offers suggestions for both sides.

As China continues its rise as a great power, The United States Congress and the administration wrestle with one another over the strategies to shape US-China economic relations. What major disputes now, and looming on the horizon, will shape future US-China relations? This book examines these issues and offers suggestions for both sides.

The goal of this book is to examine some of the major foreign policy debates in the United Kingdom and the United States in the period from 1992 to 2008: from the end of the Cold War and the aftermath of the first Gulf War to the 2008 American presidential election. The first President Bush spoke in 1991 of a “new world order” – which seemed to mean an American hegemony. The United States was now the world’s only superpower, although a superpower afflicted with weaknesses, especially economic ones. But by 2008 the “new world order” did not seem so new or so strongly American. The period saw the terrorist attacks against the U.S. of 11 September 2001, military problems for the superpower in Afghanistan and Iraq and, by the summer of 2008, near economic collapse. In all of these developments, Britain shared to a lesser or a greater extent. It is hoped that this book will shed an important light both on each nation and on the so-called “special relationship” between the two. Furthermore, this book is also not specifically concerned with policy or how policy is made but with the debate around policy and the rhetoric used to present different points of view. “The ‘Special Relationship’ between the US and Britain remains an enigmatic, ever-changing, but still very powerful factor in world politics. As an examination of their foreign policy discourses reveals, from the perspective of culture and values, few Western countries are as different as the United Kingdom and the US. With very few exceptions – the foreign policies of Gladstone and Tony Blair, and Chruchillian rhetoric, unmatched by his supremely realpolitical politics – British governments abhor talking about values and ideals. The British cultural peculiarity is to dismiss ideology and values as packaging, only to be caught by surprise time and again that they cannot do “business with Herr Hitler”, or that people kill each other for their values, religions, constructed identities and ideologies. Most American governments, by contrast, have had ideological and moral crusades embroidered on their banners in their foreign policy. There is a convergence with Britain when both proclaim that all they are doing is in their self-interest, but the Americans unashamedly assume that what is good for America is good for the world, while the British discourse, with the UK’s decline since 1945, rarely goes that far. As an analysis of their discourses reveals, the ‘Special Relationship’ is thus clearly founded on something either deeper or more superficial than shared culture or values; this volume sheds light on this surprising fact in most illuminating ways, and Lori Maguire’s achievement in bringing together these examinations is praiseworthy indeed.” —Prof. Beatrice Heuser, University of Reading

Economic sanctions continue to play an important role in the response to terrorism, nuclear proliferation, military conflicts, and other foreign policy crises. But poor design and implementation of sanctions policies often mean that they fall short of their desired effects. This landmark study, first published in 1985, delves into the rich experience of sanctions in the 20th century to harvest lessons on how to use sanctions more effectively. This volume is the updated third edition of this widely cited study. It chronicles and examines 170 cases of economic sanctions imposed since World War I. Fifty of these cases were launched in the 1990s and are new to this edition. Special attention is paid to new developments arising from the end of the Cold War and increasing globalization of the world economy. Analyzing a range of economic and political factors that can influence the success of a sanctions episode, the authors distill a set of commandments to guide policymakers in the effective use of sanctions.

The global economic and financial crisis has awakened protectionist sentiments around the world, and policymakers have failed to actively seek trade liberalization. In light of this, some have proposed abandoning the Doha Round and starting over with a new agenda. Figuring Out the Doha Round argues that this is far from the time to drop the Doha Round and that it is now more important than ever to sustain political support for the rules-based multilateral trade system. This important new study recommends modest increments in market access commitments by G-20 countries beyond tariff and subsidy cuts in agriculture and nonagricultural market access (NAMA), and policy reforms in customs procedures and related areas that slash red tape and cut transactions costs for exporting and importing goods and services. With additional effort by the G-20 countries, WTO countries can put together a Doha package that is both ambitious and balanced between the interests of developed and developing countries. The study finds that following these recommendations can lead to a world GDP gain of almost $300 billion a year.

The dispute over Chinese exchange rate policy within the United States has generated a series of legislative proposals to restrict the discretion of the US Treasury Department in determining currency manipulation and to reform the department's accountability to the Congress. This study reviews the Treasury's reports to the Congress on exchange rate policy—introduced by the 1988 trade act—and Congress's treatment of them. It finds that the accountability process has often not worked well in practice: The coverage of the reports has sometimes been incomplete and not provided a sufficient basis for congressional oversight. Nor has Congress always performed its own role well, holding hearings on less than half of the reports and overlooking important substantive issues. Several recommendations can improve guidance to the Treasury, standards for assessment, and congressional oversight. These include (1) refining the criteria used to determine currency manipulation and writing them into law; (2) explicitly harnessing US decisions on manipulation to the IMF's rules on exchange rates; (3) clarifying the general objectives of US exchange rate policy; (4) reaffirming the mandate to seek international macroeconomic and currency cooperation; and (5) institutionalizing multicommittee oversight of exchange rate policy by Congress. As they develop legislation targeting manipulation, furthermore, legislators should not lose sight of the broader purposes of the 1988 act relating to the effective valuation of the dollar, the current account, and their ramifications for the US economy overall.

The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically; how they negotiate internationally; and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and early 2000s in response to the end of the Cold War, the advance of globalisation and the growing influence of non-state actors like private business and civil society. Fully updated, the second edition reflects the impact of the campaign against terrorism, the war in Iraq and the rise of major developing countries like China and India.Based on the authors' own work in the field of international political economy, it is suitable for students interested in the decision making processes in foreign economic policy including those studying International Relations, Government, Politics and Economics but will also appeal to politicians, bureaucrats, business people, NGO activists, journalists and the informed public.

Our post-industrialised global economy has achieved spectacular success and pushed back poverty to an extent previously thought impossible. This success is ultimately based on the continued supply of both renewable and non-renewable resources. Will this supply of primary commodities remain sufficient to support global economic growth? Why are the gains for countries specialising on commodity production often so limited? Can commodity dependent countries diversify into other economic activities? Primary Commodities and Economic Development addresses the changing position of primary commodities in the world economy and investigates their importance for commodity exporting under-developed countries. The book commences with a review of the theoretical foundations for inter-dependence between commodity specialisation and economic underdevelopment. Having related the role of commodity exports and the commodity terms of trade to growth models relevant to developing economies, the discussion shifts to an in-depth review of the statistical properties of the commodity terms of trade. The review of commodity price trends at the global level is then rounded off with a series of country case studies showing the concrete threats and opportunities surrounding commodity specialization. This book will be of essential reading for those with an interest in development economics and international economics, as well as for scholars of natural resource and agricultural economics.

Governments that seek to liberalize trade can find that doing so is often in tension with their desire to achieve the objectives of cultural policy. This is because measures like local content requirements can seem like discriminatory practices when viewed through the lens of trade liberalization. This tension has prompted a long-standing debate, with great variation in how countries have approached it. Trade and Culture: The Ongoing Debate explores this variation across geographic space. It also seeks to explain the evolution in these various policies over time. Policies are not static, largely due to domestic politics, shifts in the international trading system and technological developments. The chapters in this volume explore the different approaches to the trade and culture debate and provide an up-to-date look at current versions of these policies in Canada, the European Union, South Africa, Latin America, South Korea, the United States and China. This book will be of great value to scholars and researchers interested in cultural policies and the politics of international trade. This book was originally published as a special issue of the International Journal of Cultural Policy.