A World Safe for Commerce


Book Description

How commerce determines whether America preserves the peace or goes to war When the Cold War ended, many believed that expanding trade would usher in an era of peace. Yet today the United States finds itself confronting not just Russia in Europe but China in the Indo-Pacific, Africa, and Latin America. Shedding new light on how trade both reduces and increases the risks of international crisis, A World Safe for Commerce traces how, since the nation’s founding, the United States has consistently moved from peace to conflict when the commerce needed for national security is under threat. Dale Copeland shows how commerce pushes the United States and its rivals to expand their spheres of influence for access to goods even as they worry about provoking a breakdown in trade relations that could spiral into military conflict. Taking readers from the wars with Britain in 1776 and 1812 to World War II and the Cold War, he describes how America’s leaders have grappled with this inherent tension, and why they have shifted, sometimes dramatically, from peaceful, mutually beneficial policies to coercion and force in order to increase control over vital trade and prevent economic decline. A World Safe for Commerce reveals how trade competition could lead the United States and China into full-scale confrontation. But it also offers hope that both sides can work to improve their overall trade expectations and foster the confidence needed for long-term peace and stability.




A World Safe for Commerce


Book Description

When seeking to understand why nations come into conflict, political scientists tend to focus either on threats to national security (realism) and or on moral duty, ideology, and domestic pressures (liberalism). Liberalism has been the major lens for international relations scholars analyzing the United States, due to the country's strong democratic foundations. In this expansive new book, Dale Copeland argues that the realist cast can shed fascinating light on American foreign policy--if one looks beyond security threats to consider economic threats as well. Copeland's "commercial approach to realism" establishes a new understanding of realism in three ways: by building out a new realist theory, by showing how this commercial approach applies to the United States, and by projecting this theory onto different scenarios that may arise in future conflicts between the United States and China.




Darkness by Design


Book Description

"Capital markets have undergone a dramatic transformation in the past two decades. Algorithmic high-speed supercomputing has replaced traditional floor trading and human market makers, while centralized exchanges that once ensured fairness and transparency have fragmented into a dizzying array of competing exchanges and trading platforms. Darkness by Design exposes the unseen perils of market fragmentation and 'dark' markets, some of which are deliberately designed to enable the transfer of wealth from the weak to the powerful. Walter Mattli traces the fall of the traditional exchange model of the NYSE, the world's leading stock market in the twentieth century, showing how it has come to be supplanted by fragmented markets whose governance is frequently set up to allow unscrupulous operators to exploit conflicts of interest at the expense of an unsuspecting public. Market makers have few obligations, market surveillance is neglected or impossible, enforcement is ineffective, and new technologies are not necessarily used to improve oversight but to offer lucrative preferential market access to select clients in ways that are often hidden. Mattli argues that power politics is central in today's fragmented markets. He sheds critical light on how the redistribution of power and influence has created new winners and losers in capital markets and lays the groundwork for sensible reforms to combat shady trading schemes and reclaim these markets for the long-term benefit of everyone. Essential reading for anyone with money in the stock market, Darkness by Design challenges the conventional view of markets and reveals the troubling implications of unchecked market power for the health of the global economy and society as a whole"--




Economic Interdependence and War


Book Description

Does growing economic interdependence among great powers increase or decrease the chance of conflict and war? Liberals argue that the benefits of trade give states an incentive to stay peaceful. Realists contend that trade compels states to struggle for vital raw materials and markets. Moving beyond the stale liberal-realist debate, Economic Interdependence and War lays out a dynamic theory of expectations that shows under what specific conditions interstate commerce will reduce or heighten the risk of conflict between nations. Taking a broad look at cases spanning two centuries, from the Napoleonic and Crimean wars to the more recent Cold War crises, Dale Copeland demonstrates that when leaders have positive expectations of the future trade environment, they want to remain at peace in order to secure the economic benefits that enhance long-term power. When, however, these expectations turn negative, leaders are likely to fear a loss of access to raw materials and markets, giving them more incentive to initiate crises to protect their commercial interests. The theory of trade expectations holds important implications for the understanding of Sino-American relations since 1985 and for the direction these relations will likely take over the next two decades. Economic Interdependence and War offers sweeping new insights into historical and contemporary global politics and the actual nature of democratic versus economic peace.




A World Safe for Democracy


Book Description

A sweeping account of the rise and evolution of liberal internationalism in the modern era For two hundred years, the grand project of liberal internationalism has been to build a world order that is open, loosely rules-based, and oriented toward progressive ideas. Today this project is in crisis, threatened from the outside by illiberal challengers and from the inside by nationalist-populist movements. This timely book offers the first full account of liberal internationalism’s long journey from its nineteenth-century roots to today’s fractured political moment. Creating an international “space” for liberal democracy, preserving rights and protections within and between countries, and balancing conflicting values such as liberty and equality, openness and social solidarity, and sovereignty and interdependence—these are the guiding aims that have propelled liberal internationalism through the upheavals of the past two centuries. G. John Ikenberry argues that in a twenty-first century marked by rising economic and security interdependence, liberal internationalism—reformed and reimagined—remains the most viable project to protect liberal democracy.




Cities of Commerce


Book Description

Cities of Commerce develops a model of institutional change in European commerce based on urban rivalry. Cities continuously competed with each other by adapting commercial, legal, and financial institutions to the evolving needs of merchants. Oscar Gelderblom traces the successive rise of Bruges, Antwerp, and Amsterdam to commercial primacy between 1250 and 1650, showing how dominant cities feared being displaced by challengers while lesser cities sought to keep up by cultivating policies favorable to trade. He argues that it was this competitive urban network that promoted open-access institutions in the Low Countries, and emphasizes the central role played by the urban power holders--the magistrates--in fostering these inclusive institutional arrangements. Gelderblom describes how the city fathers resisted the predatory or reckless actions of their territorial rulers, and how their nonrestrictive approach to commercial life succeeded in attracting merchants from all over Europe. Cities of Commerce intervenes in an important debate on the growth of trade in Europe before the Industrial Revolution. Challenging influential theories that attribute this commercial expansion to the political strength of merchants, this book demonstrates how urban rivalry fostered the creation of open-access institutions in international trade.




Unlikely Partners


Book Description

Unlikely Partners recounts the story of how Chinese politicians and intellectuals looked beyond their country’s borders for economic guidance at a key crossroads in the nation’s tumultuous twentieth century. Julian Gewirtz offers a dramatic tale of competition for influence between reformers and hardline conservatives during the Deng Xiaoping era, bringing to light China’s productive exchanges with the West. When Mao Zedong died in 1976, his successors seized the opportunity to reassess the wisdom of China’s rigid commitment to Marxist doctrine. With Deng Xiaoping’s blessing, China’s economic gurus scoured the globe for fresh ideas that would put China on the path to domestic prosperity and ultimately global economic power. Leading foreign economists accepted invitations to visit China to share their expertise, while Chinese delegations traveled to the United States, Hungary, Great Britain, West Germany, Brazil, and other countries to examine new ideas. Chinese economists partnered with an array of brilliant thinkers, including Nobel Prize winners, World Bank officials, battle-scarred veterans of Eastern Europe’s economic struggles, and blunt-speaking free-market fundamentalists. Nevertheless, the push from China’s senior leadership to implement economic reforms did not go unchallenged, nor has the Chinese government been eager to publicize its engagement with Western-style innovations. Even today, Chinese Communists decry dangerous Western influences and officially maintain that China’s economic reinvention was the Party’s achievement alone. Unlikely Partners sets forth the truer story, which has continuing relevance for China’s complex and far-reaching relationship with the West.




A World in Disarray


Book Description

“A valuable primer on foreign policy: a primer that concerned citizens of all political persuasions—not to mention the president and his advisers—could benefit from reading.” —Michiko Kakutani, The New York Times An examination of a world increasingly defined by disorder and a United States unable to shape the world in its image, from the president of the Council on Foreign Relations Things fall apart; the center cannot hold. The rules, policies, and institutions that have guided the world since World War II have largely run their course. Respect for sovereignty alone cannot uphold order in an age defined by global challenges from terrorism and the spread of nuclear weapons to climate change and cyberspace. Meanwhile, great power rivalry is returning. Weak states pose problems just as confounding as strong ones. The United States remains the world’s strongest country, but American foreign policy has at times made matters worse, both by what the U.S. has done and by what it has failed to do. The Middle East is in chaos, Asia is threatened by China’s rise and a reckless North Korea, and Europe, for decades the world’s most stable region, is now anything but. As Richard Haass explains, the election of Donald Trump and the unexpected vote for “Brexit” signals that many in modern democracies reject important aspects of globalization, including borders open to trade and immigrants. In A World in Disarray, Haass argues for an updated global operating system—call it world order 2.0—that reflects the reality that power is widely distributed and that borders count for less. One critical element of this adjustment will be adopting a new approach to sovereignty, one that embraces its obligations and responsibilities as well as its rights and protections. Haass also details how the U.S. should act towards China and Russia, as well as in Asia, Europe, and the Middle East. He suggests, too, what the country should do to address its dysfunctional politics, mounting debt, and the lack of agreement on the nature of its relationship with the world. A World in Disarray is a wise examination, one rich in history, of the current world, along with how we got here and what needs doing. Haass shows that the world cannot have stability or prosperity without the United States, but that the United States cannot be a force for global stability and prosperity without its politicians and citizens reaching a new understanding.




Neoliberal Resilience


Book Description

An exploration of the factors behind neoliberalism’s resilience in developing economies and what this could mean for democracy’s future Since the 1980s, neoliberalism has withstood repeated economic shocks and financial crises to become the hegemonic economic policy worldwide. Why has neoliberalism remained so resilient? What is the relationship between this resiliency and the backsliding of Western democracy? Can democracy survive an increasingly authoritarian neoliberal capitalism? Neoliberal Resilience answers these questions by bringing the developing world’s recent history to the forefront of our thinking about democratic capitalism’s future. Looking at four decades of change in four countries once considered to be leading examples of effective neoliberal policy in Latin America and Eastern Europe—Argentina, Chile, Estonia, and Poland—Aldo Madariaga examines the domestic actors and institutions responsible for defending neoliberalism. Delving into neoliberalism’s political power, Madariaga demonstrates that it is strongest in countries where traditional democratic principles have been slowly and purposefully weakened. He identifies three mechanisms through which coalitions of political, institutional, and financial forces have propagated neoliberalism’s success: the privatization of state companies to create a supporting business class, the use of political institutions to block the representation of alternatives in congress, and the constitutionalization of key economic policies to shield them from partisan influence. Madariaga reflects on today’s most pressing issues, including the influence of increasing austerity measures and the rise of populism. A comparative exploration of political economics at the peripheries of global capitalism, Neoliberal Resilience investigates the tensions between neoliberalism’s longevity and democracy’s gradual decline.




Powerful Patriots


Book Description

What role do nationalism and popular protest play in China's foreign relations? Chinese authorities permitted anti-American demonstrations in 1999 but repressed them in 2001 during two crises in U.S.-China relations. Anti-Japanese protests were tolerated in 1985, 2005, and 2012 but banned in 1990 and 1996. Protests over Taiwan, the issue of greatest concern to Chinese nationalists, have never been allowed. To explain this variation, Powerful Patriots identifies the diplomatic as well as domestic factors that drive protest management in authoritarian states. Because nationalist protests are costly to repress and may turn against the government, allowing protests demonstrates resolve and makes compromise more costly in diplomatic relations. Repressing protests, by contrast, sends a credible signal of reassurance, facilitating diplomatic flexibility. Powerful Patriots traces China's management of dozens of nationalist protests and their consequences between 1985 and 2012.