Globalization and the State: Volume II Trade Agreements, Inequality, the Environment, Financial Globalization, International Law and Vulnerabilities

by Peláez, Carlos M.; Peláez, Carlos A.

• ISBN13: 9780230205314
• ISBN10: 0230205313
• Format: Hardcover
• Copyright: 2008-12-15
• Publisher: Palgrave Macmillan

Summary

This book analyzes the issues surrounding globalization and explores the prospects of the global economy, as well as the potential vulnerabilities. Issues covered include trade agreements, poverty and inequality, financial globalization, the environment, international economic law and threats to the future of globalization.

Author Biography

CARLOS M. PELEZ received a PhD and BS, Phi Beta Kappa, from Columbia University, City of New York, USA. He has published books, essays and articles worldwide, including International Financial Architecture, The Global Recession Risk and Government Intervention in Globalization. He was Director of the Banco Chase and of the Rio de Janeiro Association of Banks and Vice President of Chase Manhattan Bank, USA. He is Managing Director of CMP Associates, USA.

CARLOS A. PELEZ received the AB in Statistics from the University of Chicago, USA and the JD from The University of Pennsylvania Law School, where he was Senior Editor of the Journal of International Law. He published International Financial Architecture, The Global Recession Risk and Government Intervention in Globalization, a book on globalization and an essay on the global electric industry. He works for a large law firm in New York City, USA.

Table of Contents

List of Tables	p. ix
List of Chart	p. x
List of Abbreviations	p. xi
Acknowledgments	p. xvi
Introduction	p. 1
Trade Agreements	p. 3
Introduction	p. 3
The economic analysis of trade agreements	p. 4
The European Union	p. 8
NAFTA	p. 10
APEC	p. 15
ASEAN	p. 17
MERCOSUR	p. 24
OPEC	p. 28
Summary	p. 34
Poverty, Inequality, the Environment and Social Issues	p. 35
Introduction	p. 35
Global poverty and inequality	p. 35
Regional, international and global public goods	p. 46
The environment	p. 48
Climate change	p. 52
Political regime	p. 63
Summary	p. 72
Financial Globalization	p. 73
Introduction	p. 73
Finance, efficiency and growth	p. 73
Financial repression and restraint	p. 81
Financial globalization	p. 86
Capital account liberalization	p. 90
Financial crises	p. 102
Financial reversals and the modified private interest view	p. 108
Summary	p. 112
International Economic Law	p. 114
Introduction	p. 114
Soft law, standards and codes	p. 114
Basel II capital requirements	p. 126
Implementing Basel II in Europe and the United States	p. 143
Self-regulatory organizations, the SEC and the FSA	p. 148
Sarbanes-Oxley	p. 155
US competitiveness in capital markets	p. 168
Summary	p. 179
Vulnerabilities of the Global Economy	p. 180
Introduction	p. 180
US external deficits and the global recession risk	p. 182
The challenge to the international financial system	p. 194
Regulation, trade and devaluation wars	p. 205
Summary	p. 209
Conclusion: The Credit/Dollar Crisis	p. 211
Notes	p. 214
References	p. 215
Index	p. 233
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