The Politics Of International Economic Relations (*Ft Not Available Until 02/29/2008)

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  • Edition: 7th
  • Format: Paperback
  • Copyright: 2009-02-12
  • Publisher: Cengage Learning

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This is the first book to give you the full breadth and depth of coverage you need to truly understand the politics of today's world economy-now and in your future career. Completely updated, the new edition reflects the sweeping changes that continue to reshape the international system. The Seventh Edition strengthens the text's contemporary coverage of political and economic relations, global inequality, and the transition to capitalism in the formerly communist countries. Its emphasis on the impact of globalization makes this definitive text ideal for equipping you with a global perspective.

Table of Contents

Prefacep. xv
About The Authorsp. xvii
An Overview
From Management to Governance in International Economic Relationsp. 1
Bretton Woodsp. 1
Interdependencep. 4
Globalizationp. 7
Conclusionp. 10
The Western System
Governing the International Monetary Systemp. 12
The Bretton Woods Systemp. 14
The Original Bretton Woods Systemp. 14
U.S. Leadershipp. 16
Multilateral Management Under U.S. Leadershipp. 17
From Bretton Woods to Interdependencep. 20
Financial Interdependence and Pluralismp. 20
The Nixon Shock and the Emergence of Floating Exchange Ratesp. 24
Petrodollar Recyclingp. 25
Interdependencep. 28
Growing Financial Interdependencep. 28
Liquidity: The Problem of the Dollarp. 29
Adjustment Under Floating Exchange Ratesp. 30
Stability and Crisis Managementp. 35
Europe's Efforts to Build a Regional Monetary Systemp. 40
Globalizationp. 42
Globalization of Financial Marketsp. 42
Economic and Monetary Unionp. 46
Adjustmentp. 48
Crisis Managementp. 53
Regional or Country-Based Crisesp. 54
Crises Involving Banks and Other Financial Institutionsp. 58
The Subprime Mortgage Crisisp. 59
Preventing Future Crisesp. 61
Global Monetary Governance in the Twenty-First Centuryp. 62
International Trade and Domestic Politicsp. 72
The Bretton Woods Systemp. 73
The Havana Charterp. 73
The General Agreement on Tariffs and Tradep. 74
U.S. Leadershipp. 76
Interdependencep. 79
Structural Change and Protectionismp. 79
An Old Issue: Agriculturep. 92
The New Protectionismp. 93
The Tokyo Roundp. 96
Globalizationp. 98
New Forms of Tradep. 98
The New Regionalismp. 100
The Uruguay Roundp. 102
The Marrakesh Agreementp. 105
New Trade Challengesp. 107
Shifting Power Relationshipsp. 110
The Doha Roundp. 113
Conclusionsp. 115
The Multinational Corporation and Global Governancep. 128
Common Characteristics of MNCsp. 130
Trends in FDI and Other MNC Activitiesp. 135
Explaining the Growth in MNC Activityp. 141
Horizontal and Vertical FDI and the KK Modelp. 141
Internalization Theoryp. 142
The OLI Modelp. 143
Product Cycle Theoryp. 143
Obsolescing Bargain Theoryp. 143
Oligopoly Theoryp. 144
The Tariff-Jumping Hypothesisp. 145
The Importance of the Home Countryp. 145
The Consequences of MNC Activityp. 146
Possible Negative Effects of MNCsp. 148
National Economic Controlp. 150
Interference by Home Governments of Multinationalsp. 153
Multinationals and the National Political Processp. 155
International Regimes for Foreign Direct Investmentp. 157
National Governancep. 158
Regional Governancep. 166
International Governancep. 169
Governance in the OECDp. 170
Governance in the United Nationsp. 172
Bilateral and Minilateral Governancep. 173
International Investment Agreementsp. 173
The Multilateral Agreement on Investmentp. 174
Conclusionsp. 175
The North-South System
The North-South System and the Possibility of Changep. 188
Liberal Theories of Economic Developmentp. 193
Marxist and Neo-Marxist Theories of Developmentp. 194
The Structuralistsp. 195
Contrasting Marxist and Structuralist Perspectivesp. 197
Weaknesses of the Three Perspectivesp. 198
Dependencep. 201
Confrontationp. 202
Globalizationp. 204
Financial Flows to Developing Countriesp. 212
Bretton Woods and Foreign AIDp. 213
The Original Bretton Woodsp. 213
The Link Between Aid and Foreign Policyp. 213
Stagnation of Aidp. 215
Financial Flows in the Era of Interdependencep. 217
Confrontation and the New International Economic Orderp. 217
Privatization of Financial Flowsp. 219
The Decline of Aid in the 1980sp. 221
The Debt Crisis of the 1980sp. 224
Debt Crisis Managementp. 228
Debt Fatiguep. 230
Globalizationp. 232
Emerging Marketsp. 232
Financial Crises of the 1990sp. 233
Common Causes, Distinct Consequencesp. 239
Financial Flows to the Poorest Developing Countriesp. 240
Financial Flows in the Twenty-First Centuryp. 241
Millennium Development Goalsp. 243
The Impact of Financial Flowsp. 245
Conclusion: The Future of Financial Flowsp. 248
Trade and Development Strategiesp. 257
Bretton Woods: Isolation from the Trading Orderp. 257
Import Substitutionp. 257
Trade Expansion and Declining Terms of Tradep. 259
Unity and Confrontationp. 262
Interdependence: Strategies to Increase Southern Powerp. 265
Commodity Power and the New International Economic Orderp. 265
Export-Led Growthp. 268
Theoretical Controversies over Export-Led Growthp. 272
New Pressures for Protection in North-South Tradep. 273
The New Pragmatismp. 275
Globalization: Joining the Trade Regimep. 277
The Uruguay Roundp. 277
The Rise of the BRICsp. 280
The Doha Roundp. 282
North-South Trade in the Twenty-First Centuryp. 287
Multinational Corporations in the Third Worldp. 298
The Role of MNCs and FDI in the Southp. 299
Bargaining for Greater Controlp. 303
Political Factors that Influence the Location of Foreign Direct Investmentp. 305
Arguments about the Positive Impact of MNCs on Economic Developmentp. 306
Criticisms of the Role of MNCs in Economic Development in the 1970sp. 308
The Economic Impact of MNCs in the Developing World: Empirical Evidencep. 310
Interference by MNCs in National Politics: Empirical Evidencep. 311
Interdependencep. 312
Regulation of Inflows of Foreign Investment by Developing Countries in the 1970sp. 312
The New Pragmatismp. 317
Globalizationp. 322
The Rise of International Production Networksp. 323
Third World MNCsp. 324
MNCs and the Antiglobalization Movementp. 325
The Future: Cooperation or Conflict?p. 328
Oil and Politicsp. 338
Corporate Oligopolyp. 340
Seven Sistersp. 340
Decline of the Oligopolyp. 342
The OPEC Systemp. 343
Negotiationp. 343
The First Oil Crisis: Unilateral Powerp. 344
Stable OPEC Managementp. 346
The Second Oil Crisis: A System Out of Controlp. 349
Other OPECs?p. 350
OPEC in Declinep. 355
The Impact of Higher Oil Pricesp. 355
Oil Price Warsp. 359
Era of Globalizationp. 361
The Gulf Warp. 361
Oil in the Caspian Regionp. 363
Changing Economics of Oil at the End of the Twentieth Centuryp. 365
Oil in the Twenty-First Centuryp. 368
Rising Price of Oilp. 368
The War in Iraqp. 372
Looking Aheadp. 373
Implications of the End of the Cold War
East-West Economic Relations: From Isolation to Integrationp. 378
The Cold Warp. 379
The Creation of an Eastern Economic Blocp. 379
Western Economic Warfarep. 381
The Collapse of the Communist Systemp. 384
Forces of Change in the Eastp. 384
Gorbachev's Economic and Political Reformsp. 388
The Failure of Perestroikap. 390
From Communism to Capitalismp. 392
Problems of Transition from Communismp. 392
Yeltsin: Crisis and Reformp. 393
Russian Foreign Economic Policies under Yeltsin and the West's Responsep. 396
The Crisis of 1998p. 397
Domestic Economic Policies of the Putin Regimep. 398
International Economic Relations in the Putin Erap. 400
Economic Reform in Eastern Europep. 401
Chinap. 405
Cold War and Isolationp. 405
Deng Xiaoping's Economic Reformsp. 408
China: Regional Power or Global Economic Superpower?p. 415
Conclusionp. 415
Conclusion: Globalization and Governancep. 427
The Evolution of International Economic Governancep. 428
Challenges for Global Governancep. 432
Characteristics of a New System of Governancep. 435
Glossaryp. 441
Acronymsp. 475
Indexp. 481
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