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The struggle for world leadership between China and the United States, resulting in Russia's war with Ukraine, among other things, underscores the reality of structural changes in the global economy and the global system. This book explains that a new era of egocentrism and polycrisis in a multipolar system has emerged in international economic policy, with a strong drive toward interventionism and protectionism of national economies. Dynamic economic imbalances are becoming a constant factor in disrupting international competitiveness and forcing changes in both monetary policy and general economic policy. This prompts a new, more pragmatic definition of fundamental concepts in the theoretical sphere as well as an up-to-date and viable cause-and-effect narrative that is not disconnected from decision-making processes in the economic and political spheres.This book provides a comprehensive diagnosis of the current global economy landscape and evaluates the processes affecting the economic and financial realities and the effectiveness of economic policies. The recent dynamics have rendered much of the existing literature outdated or confined to individual economies, economic systems, and regions. The book describes the evolution of international economic policy, offering a comparative analysis of foreign trade theories, especially in the context of macroeconomic trends and the impact of international trade in goods and services in the new balance of power of the global economy.Targeted primarily at academics, students, and researchers in economics, finance, international relations, and management, it will also serve as a valuable resource for policymakers shaping and implementing contemporary state economic policies.Chapters 1 and 6 of this book are freely available as a downloadable Open Access PDF at http://www.taylorfrancis.com under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license.

This book examines the statistics of the G-20 members with the goal of providing an analysis of their economic policies, with a particular emphasis on the financial dynamics of each country's Balance of Payments, in order to offer a framework for better understanding where we are headed in an era of great economic and geopolitical reconfiguration.Furthermore, it delves into the current challenges to the US-led monopolar world that emerged after the collapse of the Soviet Union, beginning with the rise of China and India alongside Russia, and their potential role in reshaping the global financial system. The focus also extends to South America, where economies such as Brazil and Argentina are navigating complex relationships with traditional allies and emerging global powers. Africa's position in this evolving landscape is also analyzed, highlighting its growing autonomy as exemplified by the African Union's inclusion in the G-20. Furthermore, the Middle East is undergoing a remarkable geopolitical shift, undoubtedly representing another node of power in the emerging economic chessboard. These geopolitical dynamics are further complicated by major global events, including the 2008 global financial crisis, the Eurozone sovereign debt crisis, the COVID-19 pandemic in 2020, and the Russo-Ukrainian conflict in 2022. Pressing challenges are also posed by the climate emergency, highlighting its direct impact on productivity and migration patterns.Finally, this book seeks to contribute to a nuanced understanding of the current economic realities of key global actors and their complex interplay with geopolitical choices. Based on a scholarly approach, the analysis provides insights into the complex and evolving global order.

How to be confident that your ESG investments serve your clients'needs—and take democracy into account It is easy to unintentionally finance autocrats by using benchmark indices, which often include bonds and stocks of countries slipping down the democracy rankings. Despite best intentions, an investor may be investing in Russia's invasion of Ukraine or supporting a leader like Hugo Chavez without realizing it. This is the kind of situation Beyond the ESG Portfolio sheds clear light on. In this timely book, Marcos Buscaglia, a Latin America economist, emerging markets expert, and an emerging voice on the relationship between democracy and markets argues that the current ESG criteria has brought environmental and social standards into investment decisions, but its approach to democracy needs to be refined. You'll learn everything you need to know about the connection between Wall Street and the economic, social, and foreign policies of Turkey President Recep Tayyip Erdoğan, Hungary Prime Minister Viktor Orbán, Russia President Vladimir Putin, China President Xi Jinping, and a host of Latin American autocrats, and how ESG criteria has not been able to stop markets from funding their regimes Investors need to trust that their portfolio managers are using their money for good when they allocate funds to ESG. Beyond the ESG Portfolio shows how to make the most informed and nuanced decisions for every one of your clients.

This book offers a unique assessment of the G20's development agenda and its potential to be an impactful actor in the global architecture of development cooperation. Representing two-thirds of the world population, 85 percent of economic output, 75 percent of global trade, and 80 percent of carbon dioxide emissions, the G20 embodies an overwhelming concentration of economic and political power, enhanced through regular meetings of heads of state and government. This position allows it the opportunity to play a significant role in ongoing multilateral policy processes, but also to further undermine universal development governance at the UN, already challenged by the Bretton Woods institutions, OECD and G8. Providing context and a history of the G20's involvement in development governance, expert international contributors consider the outcome of major conferences, the perspectives of China, India, and the EU, the shift away from positions held by Western countries and the role of civil society. They also offer in-depth analysis of the G20's engagement with issues concerning infrastructure, food and agriculture, taxation, macro-economic policy and the Sustainable Development Goals. The book will be of interest to scholars and students of development, international organisations and global governance.

From the financial crash to the climate emergency and Covid- 19, this book demonstrates that recent crises have had unequal impacts, they require a heterodox approach to economics for their understanding, and new ways of thinking are needed to address them. Drawing on a variety of heterodox and radical perspectives and global voices, including those from India, Africa, and South America, this collection explores the causes and impacts of global emergencies from a wide array of viewpoints. The first section outlines how the pandemic has shown up the biases of orthodox thought and policy, particularly its Eurocentric and patriarchal focus on the urban, formal economy. It outlines how adding an international dimension to institutional analysis uncovers systematic inequalities in the responses to emergencies, and how new paradigms can provide better alternatives. The massive interventionism worldwide has led to renewed interest in the global financial system, and also in Marxian approaches to money. The second section of the book therefore considers a range of alternative approaches to the study of finance – from Marx to Minsky – which are currently being revisited. The collection concludes with a suggestion for heterodox economics pedagogy, since changing economics education is vital for future dissemination of real- world ideas. The book will be of interest to a variety of researchers and postgraduate students, and lecturers, especially in the fields of development, health, labour and feminist economics, and also international political economy and heterodox economics.

This book presents a comprehensive study of the emergence, functioning and evolution of international cooperation among competition authorities. It presents an in-depth look at network cooperation taking place within international organisations, as well as networks based on binding international agreements and various informal networks, among others. It further identifies and analyses the forms of international cooperation among national competition authorities (NCAs) that are taking place within transnational competition networks. The book classifies these forms of cooperation by grouping them into three stages – soft, developed and enhanced cooperation – discussing each in detail. It thus reflects the evolution of the international cooperation process and provides insights as to its possible development. This work will be of interest to researchers, academics and advanced students in the fields of competition law, public administration, international relations and those interested in international competition law and its contribution to global public governance.

This book aims to explore and contextualize G20 rising powers'increasing role in international development from a comprehensive and multidimensional perspective. This book will scrutinize the G20 rising powers'evolving role as international development actors around three research questions: 1) How do we contextualize and locate G20 rising powers as emerging actors in international development? 2) What are the main contributions, trends and limits of G20 rising powers in South-South Cooperation? 3) Does G20 rising powers'active involvement in international development support their foreign policy objectives and challenge the international development order? Based on these three, interrelated research questions, this cluster of chapters is structured as follows: The first part, elaborated under the first research question, focuses on the historical development and current dynamics of (G20) rising powers'evolving actorness in international development to assess their main motivations, ambitions and instruments. The second part examines the main contributions, trends and limits of G20 rising powers in South-South Cooperation. The third part delves into an assessment of the linkage between G20 rising powers'active involvement in international development and their foreign policies.

The G20 (or Group of Twenty) is an international body established to manage the global economy, and includes members from developing economies.This reference set examines the issues facing developing countries and studies the role that the G20 can play in light of continuing challenges and objectives to meet the UN's Sustainable Development Goals (SDG).Volume 1 sets out the state of the world economy and the intricate functions of the G20 in policy coordination and economic cooperation. It also deals with the interests and strategies of some developing country members of the G20. These chapters answer questions such as what the country expects from the G20, the strategies adopted to achieve its ends, the extent to which it sees itself as a representative of developing countries in its region and how does it seek to represent them.The G20 has also centred its efforts around helping countries achieve the UN Sustainable Development Goals (SDGs). Volume 2 concentrates on trade issues and the prospects of achieving the SDGs. In this context, it examines whether the SDGs themselves are a desirable goal in terms of what the nature of development is which underlies these goals.

Can the power of the G20 be legitimate? This book examines the politics surrounding the G20's efforts to act effectively and legitimately and the problems and challenges involved in this activity.Developing a critical constructivist conceptualisation of the G20, the book considers holistically and practically the ways that the G20 develops various forms of power and influence and acts as an apex form of global governance that seeks to be an overall coordinating forum to address global problems. Assessing how debates about the legitimacy of the G20 shaped its operation, Slaughter argues that the G20's power can be legitimate despite a range of considerable challenges and limits. The book also explores what measures the G20 could take to be more legitimate in the future.Offering a direct and accessible consideration of the politics of legitimacy with respect to the G20, this book will be of interest to those attempting to understand and analyse the G20 as well as to scholars of IR theory, global political economy, global policy, diplomacy and globalisation.

The G7, a self-selected club of like-minded industrialized countries, looks at first glance ill-suited to address current anti-globalist concerns. Despite this, it has successfully confronted anti-globalization, populist and protectionist pressures by focussing on concerns surrounding the destruction of the natural environment, immigration, transnational crime, drugs, disease and terrorism, thus demonstrating the social and ecological advantages that globalization brings. Exploring how the world's oldest informal summit institution continues to respond to rising anti-globalisation, populism and protectionism, this book investigates the contribution the G7 makes to global governance through its actions and accountability of its members. The expert contributors analyse from different perspectives the issues that have contributed to the rise of populism and protectionism, and how well the G7 has responded to them. Each contribution identifies avenues that might allow renewing and strengthening the role of the G7 in times of global change, with a view of strengthening its legitimacy and effectiveness.It will be of interest to policy makers, diplomats, scholars of international relations, international political economy, diplomacy, summitry and global governance. The issues discussed will also be particularly relevant to those working for civil society and non-governmental organizations seeking to participate in governance forums or to influence those who do.

In today's world, we cooperate across legal and cultural systems in order to create value. However, this increases volatility, uncertainty, complexity, and ambiguity as challenges for societies, politics, and business. This has made governance a scarce resource. It thus is inevitable that we understand the means of governance available to us and are able to economize on them. Trends like the increasing role of product labels and a certification industry as well as political movements towards nationalism and conservatism may be seen as reaction to disappointments from excessive cooperation. To avoid failures of cooperation, governance is important – control through e.g. contracts is limited and in governance economics trust is widely advertised without much guidance on its preconditions or limits. This book draws on the rich insight from research on trust and control, and accommodates the key results for governance considerations in an institutional economics framework. It provides a view on the limits of cooperation from the required degree of governance, which can be achieved through extrinsic motivation or building on intrinsic motivation. Trust Control Economics thus inform a more realistic expectation about the net value added from cooperation by providing a balanced view including the cost of governance. It then becomes clear how complex cooperation is about ‘governance accretion'where limited trustworthiness is substituted by control and these control instances need to be governed in turn. Trust, Control, and the Economics of Governance is a highly necessary development of institutional economics to reflect progress made in trust research and is a relevant addition for practitioners to better understand the role of trust in the governance of contemporary cooperation-structures. It will be of interest to researchers, academics, and students in the fields of economics and business management, institutional economics, and business ethics.Note that this work is the first of its kind that explicitly reflects on the societal realities, how these drive the assumption setting process, and how these assumptions influence the theory outcome.

Over the past decades, the world has seen a dramatic increase in inequality. To what extent have the rules that govern the global economy, formally or informally, affected this trend? How can global governance arrangements be reformed to counteract them?In this book, an interdisciplinary group of prominent scholars scrutinizes how the rules of global economic governance—or the lack thereof—determine the extent and growth of inequality. Economists, political scientists, lawyers, and other experienced contributors bring together cutting-edge research on global rule making and inequality, exploring how international rules can exacerbate inequalities among and within countries to show the crucial interactions between policy choices and the distribution of income and wealth. They provide an in-depth examination of the rules governing foreign-investment protection, cross-border financial flows, and intellectual property rights, as well as the lack of standards governing international taxation and the channels through which they might affect inequality. With a focus on ambitious and achievable reforms, this book offers concrete steps toward global economic governance capable of counteracting inequitable wealth distribution and bringing about fairer economic growth.

The architecture of global economic and financial governance has undergone a deep and pervasive reform in the last ten years, radically transforming international institutions and groups, such as the International Monetary Fund, the G7, and the G20. This book investigates the new, unsettled order which is now prevailing, driven by the change in the balance of power between advanced economies and key emerging market economies. Bringing together multiple strands of analysis, traditionally kept separate, Reforming Global Economic Governance: An Unsettled Order particularly explores the role of Europe within this changing world. The book documents and examines a broad range of events, building on methods from economics and other disciplines, as well as on the insights from the author's personal involvement. This innovative approach allows the reader to ascertain the defining features of the reform: the increasing fragmentation of governance; the interconnectedness of its different elements; and the strong concern for inclusiveness. Furthermore, it presents analyses highlighting the controversial nature of the new order which underpins the current policy debate on international economic relations, including the resurgence of nationalism and trade conflicts. Through these explorations, this engaging book has direct relevance for the future prospects of international economic affairs.Offering a comprehensive view of these issues, this accessible text will appeal to scholars, insiders, and the general reader. Its detailed and thorough analyses will also be of great use to those studying economics, international political economy, and international relations.

The global community confronts a comprehensive and interconnected array of compelling economic, development and security challenges which require effective global governance. At the centre of world governance stand the new plurilateral summit institutions; the G8 and G20, and UN summits on subjects such as sustainable development and climate change. Many observers and participants regard the performance of these summits as inadequate and doubt their ability to cope with increasingly complex and numerous global challenges. This book critically examines how effectively central global institutions comply with their commitments and how their effectiveness can be improved through accountability measures designed to raise compliance and deliver better results. Expert contributors assess compliance and accountability at the key global institutions to provide an important resource for policymakers and scholars in political science, governance and accountability.For additional information and data relating to the book, please visit: http://www.g7g20.utoronto.ca/accountability/

'Disruptive innovation','the fourth industrial revolution','one of the ten ideas that will change the world'; the collaborative/sharing economy is shaking existing norms. It poses unprecedented challenges in terms of both material policies and governance in almost all aspects of EU law.This book explores the application – or indeed inadequacy – of existing EU rules in the context of the collaborative economy. It analyses the novelties introduced by the collaborative economy and discusses the specific regulatory needs and instruments employed therein, most notably self-regulation. Further, it aims to elucidate the legal status of the parties involved (traders, consumers, prosumers) in these multi-sided economies, and their respective roles in the provision of services, especially with regard to liability issues. Moreover, it delves into a sector-specific examination of the relevant EU rules, especially on data protection, competition, consumer protection and labour law, and comments on the uncertainties and lacunae produced therein. It concludes with the acute question of whether fresh EU regulation would be necessary to avoid fragmentation or, on the contrary, if such regulation would create unnecessary burdens and stifle innovation.Taking a broad perspective and pragmatic view, the book provides a comprehensive overview of the collaborative economy in the context of the EU legal landscape.

This book analyzes the shifting global economic architecture, indicating the decentralizing authority in global economic governance since the Cold War and, especially, following the 2008-09 global financial crisis. The author examines recent adjustments to the organizational framework, contestation of policy principles, norms, and practices, and destabilizing actor hierarchies, particularly in global macroeconomic, trade, and development governance. The study's ‘analytical eclecticism'includes a core constructivist IR approach, but also incorporates insights from several international relations theories as well as political and economic theory. The book develops a unique ‘analytical matrix', which analyzes effects of strategic, political, and cognitive authority in the organizational, policy, and actor contexts of the global economic architecture. It concludes that, despite concerns about potential fragmentation, decentralizing authority has increased the integration of leading developing states and new actors in contemporary global economic governance.

Les pays du Machreq, d'Afrique et d'Europe devraient construire un nouveau modèle de coopération réciproquement avantageux sur le long terme, afin d'assurer leur croissance économique et s'enrichir mutuellement du savoir-faire européen, des financements des pays arabes à excédents d'épargne, notamment ceux du Golfe, et des vastes marchés africains. Le but est de mettre en place des projets communs de création de chaînes de valeurs dans les secteurs agricoles et agroalimentaires, industriels et des services. Quarante-quatre pays africains ont signé le 21 mars 2018 à Kigali l'accord créant une zone de libre-échange continentale (ZLEC). Il s'agit d'un pas important vers le renforcement des rapports Sud-Sud.

It is now conventional wisdom to see the great policy challenges of the 21st century as inherently transnational. It is equally common to note the failures of the international institutions the world relies on to address such challenges. As the acclaimed 2013 book Gridlock argued, the world increasingly needs effective international cooperation, but multilateralism appears unable to deliver it in the face of deepening interdependence, rising multipolarity, and the growing complexity and fragmentation that characterise the global order. The Gridlock authors have now partnered with a group of leading experts to offer a trenchant reassessment of elements of the argument. Comparing anomalies and exceptions to multilateral dysfunction across a number of spheres of world politics, Beyond Gridlock explores seven pathways through and beyond gridlock. While multilateralism continues to fall short, Beyond Gridlock identifies systematic means to avoid or resist these forces and turn them into collective solutions. This book offers a vital new perspective on world politics as well as a practical guide for positive change in global policy.

The global financial crisis and the ensuing Great Recession raised concerns about adjustment fatigue, deflation, currency wars, and secular stagnation that presented a sense of déjà vu: similar concerns had arisen at the time of the Great Depression and at the end of World War II. As with earlier crises, these concerns prompted calls for greater international policy cooperation—both to achieve a sustainable recovery from the crisis and to prevent future crises. This volume compiles papers from a 2015 symposium of eminent scholars convened by the IMF to discuss how history can inform current debates about the functioning and challenges of the international monetary system. An introductory chapter sets the stage for the other chapters in the volume by giving a broad overview of the performance of the international monetary system over the past century, highlighting the key events and challenges that shaped it. Subsequent sections look at historical antecedents of today's challenges, describe how the modern international monetary system has been—and continues to be—shaped through international financial diplomacy, provide a present-day perspective, and examine the analytics of international policy coordination.

At the turn of the millennium, the unanimous adoption of the Millennium Development Goals (MDGs) by the United Nations General Assembly marked a new chapter in international development. However, voices from the Global South were noticeably absent in shaping the agenda. Fifteen years later, the global context has changed so much that it would have been inconceivable not to have taken voices from the South into account when planning the new Sustainable Development Goals (SDGs). Since its inception in 2012, the Southern Voice on Post-MDG International Development Goals (Southern Voice), a network of 48 think tanks from Africa, Asia and Latin America, has generated a substantial body of original research to feed into various aspects of the post-2015 development agenda, such as the missing dimensions of the MDGs, ways to mitigate existing challenges in delivering on aspired outcomes, and new issues, goals, targets and indicators that are crucial for the next global development framework.Southern Perspectives on the Post-2015 International Development Agenda consolidates this research and stitches together development realities and policy experiences from the Global South, infusing unique local perspectives to the global debate on the post-2015 agenda. The compendium addresses the overarching themes underpinning the new international development framework by focusing on issues such as sustainability and growth, inclusion and social policies, governance and capacities, and financing of the new agenda. Southern Voice seeks to challenge the'knowledge asymmetry'afflicting the global knowledge system by channelling evidence-based policy analyses produced by centres of excellence, located in the Global South. This is a valuable resource for academics and researchers, policymakers and practitioners, and concerned students in search of alternative views on sustainable development.

L'auteur analyse ici l'option pour l'intégration économique et présente ses indéniables avantages, les instruments qui permettent de réaliser cette intégration, ainsi que les contraintes liées à celle-ci et les techniques utilisées pour la réaliser. Il apparaît que les régions africaines qui connaissent un niveau avancé d'intégration économique sont celles qui ont réalisé l'intégration ou l'harmonisation juridique la plus avancée.

How competing visions of world order in the 1940s gave rise to the modern concept of globalismDuring and after the Second World War, public intellectuals in Britain and the United States grappled with concerns about the future of democracy, the prospects of liberty, and the decline of the imperial system. Without using the term'globalization,'they identified a shift toward technological, economic, cultural, and political interconnectedness and developed a'globalist'ideology to reflect this new postwar reality. The Emergence of Globalism examines the competing visions of world order that shaped these debates and led to the development of globalism as a modern political concept.Shedding critical light on this neglected chapter in the history of political thought, Or Rosenboim describes how a transnational network of globalist thinkers emerged from the traumas of war and expatriation in the 1940s and how their ideas drew widely from political philosophy, geopolitics, economics, imperial thought, constitutional law, theology, and philosophy of science. She presents compelling portraits of Raymond Aron, Owen Lattimore, Lionel Robbins, Barbara Wootton, Friedrich Hayek, Lionel Curtis, Richard McKeon, Michael Polanyi, Lewis Mumford, Jacques Maritain, Reinhold Niebuhr, H. G. Wells, and others. Rosenboim shows how the globalist debate they embarked on sought to balance the tensions between a growing recognition of pluralism on the one hand and an appreciation of the unity of humankind on the other.An engaging look at the ideas that have shaped today's world, The Emergence of Globalism is a major work of intellectual history that is certain to fundamentally transform our understanding of the globalist ideal and its origins.

Now, more than ever, the world needs growth-oriented and socially inclusive policymaking.Is the world giving up on the promise of ever-greater prosperity for all, on functioning democratic institutions, and on long-term peace? Is the special set of circumstances that led to the recent rapid growth in emerging markets unlikely to be present in the future? Will the second decade of the twenty first century end with “secular stagnation”? Does the rise of authoritarianism, populism, and fanatic nihilism—all experienced over the last few years—threaten to unravel what has been built painstakingly since the catastrophe of World War II?Kemal Dervis addresses these and similar questions in this thought-provoking series of essays written for Project Syndicate from 2011 to 2015. The essays are organized in three sections: global economic interdependence, inequality and the political economy of reform, and the specific challenge of Europe.The common theme is the need for growth-oriented and socially inclusive policymaking in an interdependent world. These kinds of policies offer the potential for another wave of unprecedented human progress aided by breathtaking new technologies. However, a huge and destabilizing disruption is possible if policymaking is not globally cooperative and is not focused on inclusion and greater equity.These essays synthesize the experience and analysis of a scholar and policymaker with national, regional, and international experience at the highest levels. Dervis exhibits a passion for combining strongly held values with political feasibility.

A critical look at the challenges facing international policy cooperation in the new postcrisis environment.The global financial crisis of 2007–09 highlighted the economic interdependencies between all major countries, raising the issues of international cooperation. Managing Complexity: Economic Policy Cooperation after the Crisis looks at how, following the global financial crisis, countries have changed the way they cooperate with each other on matters of economic policy.In this volume, the result of a joint research project of Chatham House and the International Monetary Fund, researchers and policymakers who were directly involved in the crisis take a critical look at the challenges facing international policy cooperation in the new postcrisis environment and at how the theory and practice of cooperation have evolved as a result of the crisis.

Les relations extérieures de la CEDEAO consistent aujourd'hui en un réseau dense de liens avec les acteurs les plus divers des relations internationales: Etats, organisations internationales, organisations non gouvernementales. L'importance acquise par la CEDEAO sur la scène internationale est illustrée par son rôle essentiel dans des processus avec l'Union Européenne (comme l'APE) et par ses interventions politico-militaires dans diverses situations de crise. Il faut ajouter à cela l'important réseau de relations diplomatiques qu'elle a tissé avec d'autres Etats. C'est à l'étude de cette constellation de relations que s'attèle cet ouvrage.

The Dragon's Footprints: China in the Global Economic Governance System under the G20 Framework examines China's participation in the G20; its efforts to increase its prestige in the international monetary system through the internationalization of its currency, the renminbi; its role in the multilateral development banks — the Asian Infrastructure Investment Bank and the New Development Bank; and its involvement in global trade governance, in light of the dazzling growth its economy has experienced since its ascension to the World Trade Organization in 2001. Clearly, China has its own views on how to engage with governance bodies and what benefits it expects to reap from its participation in global economic governance. There is no doubt that China is leaving its footprint on many aspects of the international financial system through its growing engagement with and greater integration into the global economy. The Dragon's Footprints provides an in-depth discussion of what China has gained and learned from this experience and considers the implications for its foreign policy and future economic development.

Global Financial Governance Confronts the Rising Powers addresses the challenge that the rising powers pose for global governance, substantively and institutionally, in the domain of financial and macroeconomic cooperation. It examines the issues that are before the G20 that are of particular concern to these newly influential countries and how international financial institutions and financial standard-setting bodies have responded. With authors who are mainly from the large emerging market countries, the book presents rising power perspectives on financial policies and governance that should be of keen interest to advanced countries, established and evolving institutions, and the G20.

This book analyzes the Group of Twenty (G20) since the 2008 financial crisis. The latter event undermined conventional wisdom and governance norms, constituting a more contested international economic regime. G20 leaders sought a cooperative response to the 2008 crisis through the forum, aware of their interdependence and the growing economic importance of key developing states. They agreed to new norms of financial governance based on macroprudential regulation, the Basel III Accords, and enhanced multilateral cooperation. They prioritized G20 cooperation for achieving international economic stability and growth. Differences exist over causes and effects of the crisis, including on the merits of economic austerity or fiscal stimulus strategies; on responsibility for and solutions to international economic imbalances; and concerns about monetary policies and “currency wars”. Despite claims from skeptics that G20 cooperation is declining, this book argues its importance for international relations and as a hub of global governance networks.

In September 1985, emissaries of the world's five leading industrial nations—the United States, Britain, France, Germany, and Japan—secretly gathered at the Plaza Hotel in New York City and unveiled an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy. The Plaza Accord is credited with sharply realigning exchange rates, significantly reducing current account imbalances, and countering protectionist pressures in the United States. But did the Accord provide a foundation for ongoing international financial stability and policy coordination? Or was it simply a unique one-time coincidence of national interests?The Plaza experience continues to inform today's debates about the limits and possibilities of international monetary cooperation. In late 2015, leading policymakers and economists—including those who were involved in the Accord's design, negotiation, and implementation—held a Plaza Retrospective conference at the Baker Institute for Public Policy to evaluate the Accord's legacy and how its collaborative spirit can be applied today. This volume presents their views and analyses to provide guidance for a time when the world again faces the prospect of currency disequilibria, growing imbalances, trade policy reactions, and thus uncertainty for both the global economy and world politics.Data disclosure: The data underlying the analysis in this volume are available. The data used in chapter 14 are taken directly from William Cline's Policy Briefs 15-8 and 15-20, with the exception that they have been manipulated with a key assumption stated in the chapter.

Business transactions and partnerships across borders have become easier than ever due to globalization and global digital connectivity. As part of this shift in the business sphere, managers, executives, and strategists across industries must acclimate themselves with the challenges and opportunities for conducting business globally. International Business: Concepts, Methodologies, Tools, and Applications presents the latest research innovations focusing on cross-cultural communications and training, international relations, multinational enterprises, outsourcing, international business strategies, and competitive advantage in the global marketplace. This publication is an exhaustive multi-volume work essential to academic and corporate libraries who serve researchers, scholars, business executives and professionals, and graduate-level business students.