Download or read book Currency Statecraft written by Benjamin J. Cohen and published by University of Chicago Press. This book was released on 2018-11-15 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.
Download or read book Currency Statecraft written by Benjamin J. Cohen and published by University of Chicago Press. This book was released on 2018-11-15 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.
Download or read book Financial Statecraft written by Benn Steil and published by Yale University Press. This book was released on 2008-10-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: divAs trade flows expanded and trade agreements proliferated after World War II, governments—most notably the United States—came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is accounted for by financial flows unrelated to trade in goods and services—a stunning inversion of the figures in 1970. The time is ripe to ask fundamental questions about what Benn Steil and Robert Litan have coined as “financial statecraft,” or those aspects of economic statecraft directed at influencing international capital flows. How precisely has the American government practiced financial statecraft? How effective have these efforts been? And how can they be made more effective? The authors provide penetrating and incisive answers in this timely and stimulating book. /DIV
Download or read book Currency Power written by Benjamin J. Cohen and published by Princeton University Press. This book was released on 2018-04-24 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the dollar will remain the world's most powerful currency Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world’s dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America’s greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy. Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today’s top currencies. The greenback, he contends, is the "indispensable currency"—the one that the world can’t do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics. Contrary to today’s growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come.
Download or read book The International Political Economy of the Renminbi written by Hyoung-kyu Chey and published by Routledge Frontiers of Political Economy. This book was released on 2023-05-31 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics of reactive currency statecraft -- The rise of the "people's currency" -- The United Kingdom: a passionate advocate -- Japan: a diplomatic user of the renminbi -- South Korea: a late but active accommodator -- The United States: a confident hegemon.
Download or read book War by Other Means written by Robert D. Blackwill and published by Harvard University Press. This book was released on 2016-04-12 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of 2016 Today, nations increasingly carry out geopolitical combat through economic means. Policies governing everything from trade and investment to energy and exchange rates are wielded as tools to win diplomatic allies, punish adversaries, and coerce those in between. Not so in the United States, however. America still too often reaches for the gun over the purse to advance its interests abroad. The result is a playing field sharply tilting against the United States. “Geoeconomics, the use of economic instruments to advance foreign policy goals, has long been a staple of great-power politics. In this impressive policy manifesto, Blackwill and Harris argue that in recent decades, the United States has tended to neglect this form of statecraft, while China, Russia, and other illiberal states have increasingly employed it to Washington’s disadvantage.” —G. John Ikenberry, Foreign Affairs “A readable and lucid primer...The book defines the extensive topic and opens readers’ eyes to its prevalence throughout history...[Presidential] candidates who care more about protecting American interests would be wise to heed the advice of War by Other Means and take our geoeconomic toolkit more seriously. —Jordan Schneider, Weekly Standard
Download or read book The Power of the Past written by Hal Brands and published by Brookings Institution Press. This book was released on 2015-11-10 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading scholars and policymakers explore how history influences foreign policy and offer insights on how the study of the past can more usefully serve the present. History, with its insights, analogies, and narratives, is central to the ways that the United States interacts with the world. Historians and policymakers, however, rarely engage one another as effectively or fruitfully as they might. This book bridges that divide, bringing together leading scholars and policymakers to address the essential questions surrounding the history-policy relationship including Mark Lawrence on the numerous, and often contradictory, historical lessons that American observers have drawn from the Vietnam War; H. W. Brands on the role of analogies in U.S. policy during the Persian Gulf crisis and war of 1990–91; and Jeremi Suri on Henry Kissinger's powerful use of history.
Download or read book International Monetary Power written by David M. Andrews and published by Cornell University Press. This book was released on 2006 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a thorough overview of how money is used as a tool to achieve international political aims.
Download or read book Economic Statecraft written by David A. Baldwin and published by Princeton University Press. This book was released on 2020-09-22 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- Techniques of statecraft -- What is economic statecraft? -- Thinking about economic statecraft -- Economic statecraft in international thought -- Bargaining with economic statecraft -- National power and economic statecraft -- "Classic cases" reconsidered -- Foreign trade -- Foreign aid -- The legality and morality of economic statecraft -- Conclusion -- Afterword : economic statecraft : continuity and change / Ethan B. Kapstein.
Download or read book Russia s Cultural Statecraft written by Tuomas Forsberg and published by Routledge. This book was released on 2021-11-04 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focusses on Russia’s cultural statecraft in dealing with a number of institutional cultural domains such as education, museums and monuments, high arts and sport. It analyses to what extent Russia’s cultural activities abroad have been used for foreign policy purposes, and perceived as having a political dimension. Building on the concept of cultural statecraft, the authors present a broad and nuanced view of how Russia sees the role of culture in its external relations, how this shapes the image of Russia, and the ways in which this cultural statecraft is received by foreign audiences. The expert team of contributors consider: what choices are made in fostering this agenda; how Russian state authorities see the purpose and limits of various cultural instruments; to what extent can the authorities shape these instruments; what domains have received more attention and become more politicised and what fields have remained more autonomous. The methodological research design of the book as a whole is a comparative case study comparing the nature of Russian cultural statecraft across time, target countries and diverse cultural domains. It will be of interest to scholars and students of Russian foreign policy and external relations and those working on the role of culture in world politics.
Download or read book Economic Statecraft and Foreign Policy written by Jean-Marc F. Blanchard and published by Routledge. This book was released on 2013-07-18 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a unified theory of economic statecraft to clarify when and how sanctions and incentives can be used effectively to secure meaningful policy concessions. High-profile applications of economic statecraft have yielded varying degrees of success. The mixed record of economic incentives and economic sanctions in many cases raises important questions. Under what conditions can states modify the behaviour of other states by offering them tangible economic rewards or by threatening to disrupt existing economic relations? To what extent does the success of economic statecraft depend on the magnitude of economic penalties and rewards? In order to answer these questions, this book develops two analytic models: one weighs the threats economic statecraft poses to the Target’s Strategic Interests (TSI); while the other (stateness) assesses the degree to which the target state is insulated from domestic political pressures that senders attempt to generate or exploit. Through a series of carefully crafted case studies, including African apartheid and Japanese incentives to obtain the return of the Northern Territories, the authors demonstrate how their model can yield important policy insights in regards to contemporary economic sanctions and incentives cases, such as Iran and North Korea. This book will be of much interest to students of statecraft, sanctions, diplomacy, foreign policy, and international security in general.
Download or read book Strained Relations written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2015-03-02 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.
Download or read book The Remittance Landscape written by Sarah Lynn Lopez and published by University of Chicago Press. This book was released on 2015-01-12 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Immigrants in the United States send more than $20 billion every year back to Mexico—one of the largest flows of such remittances in the world. With The Remittance Landscape, Sarah Lynn Lopez offers the first extended look at what is done with that money, and in particular how the building boom that it has generated has changed Mexican towns and villages. Lopez not only identifies a clear correspondence between the flow of remittances and the recent building boom in rural Mexico but also proposes that this construction boom itself motivates migration and changes social and cultural life for migrants and their families. At the same time, migrants are changing the landscapes of cities in the United States: for example, Chicago and Los Angeles are home to buildings explicitly created as headquarters for Mexican workers from several Mexican states such as Jalisco, Michoacán, and Zacatecas. Through careful ethnographic and architectural analysis, and fieldwork on both sides of the border, Lopez brings migrant hometowns to life and positions them within the larger debates about immigration.
Download or read book China Upside Down written by Man-houng Lin and published by BRILL. This book was released on 2020-03-23 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many scholars have noted the role of China’s demand for silver in the emergence of the modern world. This book discusses the interaction of this demand and the early-nineteenth-century Latin American independence movements, changes in the world economy, the resulting disruptions in the Qing dynasty, and the transformation from the High Qing to modern China. Man-houng Lin shows how the disruption in the world’s silver supply caused by the turmoil in Latin America and subsequent changes in global markets led to the massive outflow of silver from China and the crisis of the Qing empire. During the first stage of this dynastic crisis, traditional ideas favoring plural centers of power became more popular than they ever had been. As the crisis developed, however, statist ideas came to the fore. Even though the Qing survived with the resumption of the influx of Latin American silver, its status relative to Japan in the East Asian order slipped. The statist inclination, although moderated to a degree in the modern period, is still ascendant in China today. These changes—Qing China’s near-collapse, the beginning of its eclipse by Japan in the East Asian order, and shifting notions of the proper relationship between state and market and between state and society—led to “China upside down.”
Download or read book Geo economics and Power Politics in the 21st Century written by Mikael Wigell and published by Routledge. This book was released on 2018-07-06 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting from the key concept of geo-economics, this book investigates the new power politics and argues that the changing structural features of the contemporary international system are recasting the strategic imperatives of foreign policy practice. States increasingly practice power politics by economic means. Whether it is about Iran’s nuclear programme or Russia’s annexation of Crimea, Western states prefer economic sanctions to military force. Most rising powers have also become cunning agents of economic statecraft. China, for instance, is using finance, investment and trade as means to gain strategic influence and embed its global rise. Yet the way states use economic power to pursue strategic aims remains an understudied topic in International Political Economy and International Relations. The contributions to this volume assess geo-economics as a form of power politics. They show how power and security are no longer simply coupled to the physical control of territory by military means, but also to commanding and manipulating the economic binds that are decisive in today’s globalised and highly interconnected world. Indeed, as the volume shows, the ability to wield economic power forms an essential means in the foreign policies of major powers. In so doing, the book challenges simplistic accounts of a return to traditional, military-driven geopolitics, while not succumbing to any unfounded idealism based on the supposedly stabilising effects of interdependence on international relations. As such, it advances our understanding of geo-economics as a strategic practice and as an innovative and timely analytical approach. This book will be of much interest to students of security studies, international political economy, foreign policy and International Relations in general.
Download or read book US Economic Statecraft for Survival 1933 1991 written by Alan P. Dobson and published by Routledge. This book was released on 2002-04-25 with total page 818 pages. Available in PDF, EPUB and Kindle. Book excerpt: How have US economic defence policies promoted its security since 1933?US Policies of Economic Warfare, 1933-1991 concentrates on an important and neglected facet of America's fight for survival in the latter half of the twentieth century. It explains how US policy-makers crafted and used instruments of economic statecraft against states that posed
Download or read book Germany Unified and Europe Transformed written by Condoleezza Rice and published by . This book was released on 1998 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt:
