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242. Financial Regionalism in East Asia
- Author:
- Ulrich Volz
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- This article provides an overview of the current state of financial regionalism in East Asia and discusses why and how the East Asian countries should go forward in terms of financial and monetary regionalism. It highlights intra-regional exchange rate stability as an important regional public good and makes the case for greater exchange rate cooperation. To this end, East Asian countries should gradually reduce their exposure to the US dollar and move towards currency basket regimes which would sustain relative intra-regional exchange rate stability while allowing for sufficient flexibility to accommodate idiosyncratic shocks. Against the backdrop of the global and European financial crisis, the article also urges a reconsideration of the costs and benefits of international – and regional – financial integration and calls for a further strengthening of East Asia's regional financial architecture.
- Political Geography:
- United States and East Asia
243. The GCC and the Arab Spring: A Tale of Double Standards
- Author:
- Silvia Colombo
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Since 2011, the Gulf Cooperation Council (GCC) countries have been confronted with increasing challenges stemming from the Arab uprisings. Internally, they have had to face popular mobilisation and discontent, triggering a mixed reaction, including economic handouts, patronage, limited political and economic reforms as well as military intervention and repression. Externally, they have actively intervened in support of the protest movements in Syria and Libya and enthusiastically facilitated President Saleh's departure from Yemen. At first sight these responses may seem schizophrenic. Upon closer inspection, however, managing instability by shoring up friendly regimes on the inside and expanding the GCC's influence outside represent two sides of the same coin.
- Political Geography:
- Libya, Yemen, and Saudi Arabia
244. Looking Beyond a Nuclear-Armed Iran: Is Regional Proliferation Inevitable?
- Author:
- Christopher Hobbs and Matthew Moran
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The past year has seen a steady rise in tensions with regard to Iran's nuclear programme. Iran's economy is being crippled by far-ranging sanctions and the threat of an Israeli attack on Iranian nuclear facilities looms large on the horizon. Yet the country's nuclear programme marches on, stoking fears that Iran may indeed be seeking to cross the nuclear weapons threshold. In this context, it is timely to consider how key regional players would respond to a nuclear-armed Iran. Many argue that an Iranian bomb would prompt a proliferation cascade in the Middle East. However, a closer examination of the drivers for key regional players shows that this is not necessarily the case. There is a range of non-proliferation tools that could be applied by the West and others to offset this risk.
- Topic:
- Nuclear Weapons
- Political Geography:
- Iran and Middle East
245. Seeking CSDP Accountability Through Interparliamentary Scrutiny
- Author:
- Jan Wouters and Kolja Raube
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The EU's Common Security and Defence Policy (CSDP) requires parliamentary accountability. At present, as CSDP-related decisions are increasingly taken in the framework of the UN or the EU, neither the European Parliament (EP) nor national parliaments are able to hold decision-makers accountable. Interparliamentary cooperation can provide added value in bringing about parliamentary scrutiny of CSDP. Nevertheless, despite an official agreement, the EP and national parliaments have different views on what such interparliamentary cooperation entails. There are five conditions – cooperation and complementarity among parliaments, conferential dialogues, coordinated agendas, and comprehensive and comparative scrutiny – that have to be fulfilled to create added value for interparliamentary cooperation on CSDP matters.
- Political Geography:
- Europe
246. The Universalism of Human Rights
- Author:
- Vanessa Boas
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- As the title suggests, Friedman deals with contemporary human rights culture, which he believes to be a product of modernity. The author reasons that the rise of expressive individualism, which has paved the way for human rights consciousness, is unique to our times and to the developed world. Affluence has allowed the individual to flourish and has given rise to demands for basic rights as a kind of safety net against the perils of individualism. For the author, these trends can be observed all over the developed world, be it in the West or in Asia.
- Topic:
- Human Rights
- Political Geography:
- Asia
247. Recent Publications
- Author:
- Claudia Astarita, Dario Sabbioni, Maria Chiara Slucca, and Lorenzo Vai
- Publication Date:
- 12-2012
- Content Type:
- Journal Article
- Journal:
- The International Spectator
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Discussing China's approach to global warming is not an easy task. Beijing's attitude to this sensitive issue has often appeared confusing. Alessandro Gobbicchi's book, which tries to retrace what the People's Republic has been thinking, doing and achieving in this context over the last three decades, is therefore a welcome tool.
- Topic:
- Economics
- Political Geography:
- China
248. China Reinterprets the Liberal Peace
- Author:
- Silvia Menegazzi
- Publication Date:
- 12-2012
- Content Type:
- Working Paper
- Institution:
- Istituto Affari Internazionali
- Abstract:
- China's assertiveness is growing. While in the past China's foreign policy kept a low profile in international affairs, global developments, prime amongst which in the Middle East, highlight China's growing influence in world politics and its ensuing role in shaping global norms. Within the liberal peace discourse, China's reinterpretation of international norms can be seen as the result of a mixture of prior local norms - sovereignty and non-interference - and changes within the international environment - namely conflicts in North Africa and the Middle East. Particularly, in terms of intervention and peace-building practices, China insists that a number of preconditions - which are encapsulated in the notion of Responsible Protection (RP) - have to be met in order to consider intervention in sovereign states. This paper argues that in order to achieve a full picture of Chinese foreign policy and its normative underpinnings, it is necessary to explore the debate within non-state actors beyond the government apparatus, such as think tanks and research institutions.
- Topic:
- Foreign Policy, Emerging Markets, International Affairs, and Foreign Direct Investment
- Political Geography:
- China, Middle East, Libya, North Africa, and Syria
249. The European Commission's Policy Towards the Southern Gas Corridor: Between National Interests and Economic Fundamentals
- Author:
- Nicolò Sartori
- Publication Date:
- 01-2012
- Content Type:
- Working Paper
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The European Union launched the ambitious Southern Gas Corridor initiative with the goal of enhancing the security of its energy supply. The corridor - a virtual transit route running from the gas-rich Caspian basin to the EU while bypassing Russian soil - is meant to increase diversification of the EU's supplier and transit countries. While various projects have been proposed to give life to the corridor, the European Commission has given particular support to the realisation of Nabucco, a 3,893km pipeline running from Turkey to the European gas hub of Baumgarten in Austria, via Bulgaria, Romania, and Hungary. The Commission's choice is, however, flawed in several respects, as it fails to take account of key factors, such as the diverging, and sometimes conflicting, interests of individual EU member states, the geopolitical challenges of the Caspian basin, and the commercial constraints on Nabucco. This short-sighted approach has hindered the efficient development of the Southern Gas Corridor and weakened the EU's energy policy.
- Topic:
- Security, Energy Policy, and Natural Resources
- Political Geography:
- Russia, Europe, Turkey, Bulgaria, Romania, Hungary, and Austria
250. Rising Tensions in the Eastern Mediterranean: Implications for Turkish Foreign Policy
- Author:
- Ebru Oğurlu
- Publication Date:
- 03-2012
- Content Type:
- Working Paper
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Over the last few years, the Eastern Mediterranean has been increasingly fraught with growing competition between regional players, most notably Turkey, Cyprus, and Israel, signalling an apparent return of power politics in regional relations. Of all actors involved, Turkey stands out for being both an ever more influential power and a source of serious concern to other countries in the region due to its greater assertiveness and perceived hegemonic ambitions. Against the backdrop of recent regional developments and their international implications, including the dispute over drilling rights off Cyprus' coasts, Turkey's image as a constructive and dialogue-oriented country, a critical achievement pursued by a generation of Turkish politicians, diplomats and officials, risks being replaced by one of an antagonistic/assertive power. Facing the first serious challenge to its claim to embody a benign model as a secular Muslim democracy and a responsible international actor, Turkey should not indulge in emotional reactions. It should opt instead for a more moderate and balanced approach based on the assumption that only cooperation and constructive dialogue, even with rival countries, can help it realize its ambition of being the regional pivot.
- Topic:
- Foreign Policy, Democratization, Development, Islam, and Power Politics
- Political Geography:
- United States, Europe, Middle East, Israel, Greece, Asia, Colombia, and Cyprus