Mega Regionalism And Great Power Geo Economic Competition

The regional trade governance architecture is in flux. The latest wave of regionalism in the form of mega-regional trade partnerships between countries with major shares of the world economy occurred in the aftermath of the Global Financial Crisis of 2008-09. The most systematically important mega-FTAs included the Trans-Pacific Partnership led by the United States (US), the China-backed Regional Comprehensive Economic Partnership, and the Transatlantic Trade and Investment Partnership between the European Union (EU) and the US. Drawing on policy diffusion and competitive regionalism literatures, Xianbai Ji develops an innovative model of competitive spill-over to uncover the historical and contemporary sources of mega-regionalism resulting from a temporal clustering of mega-FTA initiatives from great powers. In the book, mega-FTA is conceptualised as an instrument of geo-economic competition between the US, China, and the EU. Each aspired to leverage its mega-FTA to gain an edge over its rivals in economic, geopolitical, and legal terms. Through a mix-method research strategy involving computable general equilibrium modelling, game theory, desk research, and perception survey, Ji generates an impressive chorus of quantitative, qualitative, and perceptual data demonstrating that the rise of mega-regionalism was driven by the multidimensional competition between the US, China, and the EU over international economic benefits, geopolitical influence, and the authority to write rules governing emerging trade issues. This book will attract academics, think tankers, practitioners, and postgraduate students interested in regionalism, international trade, international political economy, applied trade policy analysis, great power competition, geo-economics, and international relations.

In his new book, Hanna Samir Kassab examines changes and trends in international politics and the competition between great powers for control of the international system. He argues that the increase in geopolitical, economic, nationalist, and resource competition between three great powers, the United States, China, and Russia, points to the changing structure of the international system. This competition is a systemic one, focusing more on the rules and norms that defined the system since the end of the Cold War. This American-led unipolar order is translating into a multipolar one. Kassab begins by tracing the decline of the United States after the Iraq War (2003) and the Great Recession (2008) as well as the rise of China and the resurgence of Russia. He describes major foreign policy changes from George H.W. Bush to Donald J. Trump and how the various administrations approached the international system. Russia and China will increase their international influence as the United States pulls back from the international system. Written using simple jargon, Globalization, Multipolarity and Great Power Competition is equally accessible to academics and casual readers and laypeople interested in international politics.

This book focuses on the recent rise of new regional economic institutions such as the Chiang Mai Initiative Multilateralisation, the Asian Infrastructure Investment Bank, and the Regional Comprehensive Economic Partnership, which were established, in part, as a result of dissatisfaction of dynamic emerging markets with global economic institutions such as the IMF, the World Bank, and the GATT/WTO. The latter were formed by advanced economies in the West, after the historic Bretton Wood Conference of 1944. In doing so, the book addresses how this recent round of decentralisation, defined as the co-existence of “senior” global institutions and a plethora of newly-established regional institutions, has affected global economic governance, and the delivery of global public goods. It also poses the question if this has led to the fragmentation of global economic governance. The book adds value to existing literature by using a benefit-risk analytical framework to study the decentralisation process. Unlike the “contested multilateralism” argument used by some authors which focuses on the costs of decentralisation, the authors argue that benefits must also be considered. It also describes and analyses the establishment of global and regional international economic institutions and the evolving relationships between the two. Third, the authors argue that this decentralisation process will continue in the postpandemic period and recommend policies to reset the relationship between global and regional institutions. And lastly, the book discusses proposals to reform the international monetary system including the global reserve system with a view to reducing the hegemony of the US dollar. Throughout the book, the role for Asia is also identified, and elaborated on.

The living standards and scale of development around the world are vastly unequal. One notable observation is that much of the poverty-stricken area is located between the tropics of Cancer and Capricorn. By contrast, affluent nations are situated in more temperate zones. Such a phenomenon gives weight to the geography hypothesis that seeks to explain the occurrence of global economic inequality, by placing an emphasis on the importance of natural elements such as location and climate in determining the economic conditions of a nation. This book concentrates exclusively and in depth on the key economic phenomena and factors which shape tropical economies today. It examines contemporary economic problems confronting the tropical countries and provides policy recommendations that align with the United Nations’ Sustainable Development Goals set in the 2030 Agenda. It contains research works and case studies of tropical economies that are related to the area of development and environment economics. The book’s themes range from economic growth, poverty reduction, income inequality, economic globalization, international trade, capital flow, financial development, and institutional development to environmental sustainability within the Tropics. Recognizing the dynamism and diversity of the tropics, the book encompasses empirical and policy analyses that address the key economic issues and challenges in the region so as to provide an important platform from which new policymaking initiatives can flourish. This book will draw readership primarily from the fields of economics and public policy, particularly under the subject areas of development and environment economics, as well as discussions in the sustainability policy space.

With a range of case studies from every continent, the contributors to this book analyze the challenges that arise for states living with much larger neighbors, and the policies they develop to account for this asymmetry. Bringing together the perspectives of bilateral relations and the study of small states, this book analyzes a range of scenarios where one or more smaller countries must manage relations with a much larger neighbor or neighbors, from the perspective of the smaller countries. Each case presents different priorities, depending on the relationship between the states concerned, while highlighting the commonalities across the various scenarios. The range of cases and contributors is wide and diverse, with examples including Togo’s relationship with Ghana, Mongolia’s with China, and Colombia’s with Brazil – as well as more widely known examples such as Canada and the United States, or Australia and New Zealand. A valuable resource for scholars and students of international relations, and public policy of small- and medium-sized states.

This volume analyses New Delhi’s reaction to China’s Belt and Road Initiative (BRI) and the rise of politics of connectivity and infrastructure building which has heightened Sino-Indian rivalry in South Asia and the Indian Ocean Region (IOR). It can be evidenced that the BRI has transformed the Sino-Indian dynamics from a ‘managed rivalry’ to an intense geo-political competition. It is contended that competition is inevitable when two powers rise in the same neighbourhood. The Indian government has opposed the BRI since its inception noting that the ‘BRI violates India’s sovereignty and territorial integrity’ because one of the flagship BRI projects - the China-Pakistan Economic Corridor (CPEC) - runs through (Pakistan-controlled) Kashmir which India claims to be its own territory. It has consistently maintained that China’s ‘connectivity initiatives must be based on universally recognized international norms, good governance, rule of law, openness, transparency and equality, and must be pursued in a manner that respects sovereignty and territorial integrity’ of other states. Beyond those stated reservations, New Delhi is concerned about the BRI infrastructure and connectivity projects in the smaller South Asian countries and the Indian Ocean littoral states. India has traditionally viewed South Asia and the IOR as its backyard over which it has historically maintained a position of influence. It is apprehensive that the BRI projects will enhance Beijing’s stature and undermine India’s influence in the region. In eleven chapters including Introduction and Conclusion, this book explores the dimensions of the rivalry and analyses the causes, dynamics and implications of an accelerated Sino-Indian competition.

Given the increasing presence of non-Western nations in global affairs, Hiro Katsumata and Hiroki Kusano explore their responses to the backlash taking place in the West against the global spread of liberalism – against the global spread of free trade, multilateral institutions, and liberal-democratic politics. Katsumata and Kusano concentrate on the cases of Egypt, Brazil, Japan, ASEAN members, Russia, and China. Mounted by these non-Western nations are three kinds of responses: illiberal bandwagoning, counter-backlash, and thirdway charting. Each of these responses inevitably has significant consequences for the fate of the existing liberal international order established and sustained by the Western countries in the post-war era, either accelerating the collapse of this order by causing additional damage to it, or putting the brakes on its collapse by giving support to it. An invaluable resource for scholars in International Relations and Comparative Politics.