Deep Integration How Transatlantic Markets are Leading Globalization

by Hamilton, Daniel S.; Quinlan, Joseph P.

• ISBN13: 9780976643418
• ISBN10: 0976643413
• Format: Paperback
• Copyright: 2005-06-30
• Publisher: Center for Transatlantic Relations SAIS

Summary

One of the defining features of the global economic landscape over the past decade has been the increasing integration and cohesion of the transatlantic economy. Globalization is happening faster and reaching deeper between Europe and America than between any other two continents.Transatlantic markets are the cutting edge of globalization. Key sectors of the transatlantic economy are integrating as never before. Europeans and Americans have become so intertwined that they are literally in each other?s business. These linkages underpin a $3 trillion economy that provides up to 14 million insourced jobs on both sides of the Atlantic. Deep integration, however, can also generate frictions when different systems rub up against each other. Neither the framework for our relationship nor the ways our governments are currently organized adequately capture these new realities.Case studies illustrate the phenomenon of deep transatlantic integration and its implications for a truly free Transatlantic Market in such sectors as aerospace and civil aviation, biopharmaceuticals, services, financial markets and telecommunications, and in such controversial policy areas as climate change and emissions trading, corporate governance and chemicals regulation.

Author Biography

Daniel S. Hamilton is the Richard von WeizsScker Professor and director of the SAIS Center for Transatlantic Relations, Johns Hopkins University. Joseph P. Quinlan is Senior Fellow at the Paul H. Nitze School of Advanced International Studies, Johns Hopkins University and global market strategist for Bank of America.

Table of Contents

The transatlantic economy : mars? : venus? : no, mercury!	p. 3
The transatlantic economy : seven ties that bind	p. 11
The transatlantic economy : remaining barriers and possibilities for liberalization	p. 28
Services in the transatlantic economy	p. 39
Beyond open skies : the economic impact of a U.S.-EU open aviation area	p. 50
Commercial aerospace and the transatlantic economy	p. 74
The transatlantic outlook for the biopharmaceutical sector	p. 91
The transatlantic automotive sector	p. 109
A transatlantic financial market?	p. 122
Transatlantic telecommunications : markets, policies, issues	p. 132
Telecom services : a transatlantic perspective	p. 156
Transatlantic corporate governance reform : Brussels sprouts or Washington soup?	p. 193
Climate change : could a transatlantic greenhouse gas emissions market work?	p. 204
REACH : getting the chemistry right in Europe	p. 221
All quiet on the transatlantic front? : deficits and imbalances in the transatlantic economy	p. 236
Transatlantic and global dimensions of the Lisbon agenda	p. 250
Deep integration : opportunities and challenges for transatlantic relations	p. 277
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