The Globalization Of World Politics
For much of the 20th century, geopolitics drove American foreign policy. Successive presidents sought to prevent any single country from dominating the centers of strategic power in Europe and Asia. To that end the United States fought two world wars and carried on its four-decade-long Cold War with the Soviet Union. The collapse of the Soviet empire ended the last serious challenge for territorial dominion over Eurasia. The primary goal of American foreign policy was achieved.
The Globalization of World Politics
Globalization is not just an economic phenomenon, but a political, cultural, military, and environmental one as well. Nor is globalization new; networks of interdependence spanning continents were increasing rapidly in the decades before the First World War as the steam engine and the telegraph reduced the cost of transportation and information. What distinguishes globalization today is the speed and volume of cross-border contacts.
But globalization also brings terrible new perils. A handful of men from halfway across the globe can hijack four commercial airliners and slam them into key symbols of American power, killing thousands. A computer hacker in the Philippines can shut down the Internet and disrupt e-commerce thousands of miles away. Speculators can produce a run on the Thai currency, plunging Russia and Brazil into recession, robbing American exporters of markets, and costing American jobs. Greenhouse gases accumulating in the atmosphere in newly booming economies can raise global temperatures, possibly flooding coastal plains and turning mountain meadows into deserts.
Much of the foreign policy debate in the United States today revolves around assessments of the fundamental importance of American primacy and globalization. Americanists, so called because they emphasize American primacy, see a world in which the United States can use its predominant power to get its way, regardless of what others want. They believe the United States must summon the will to go it alone if necessary. Globalists emphasize globalization. They see a world that defies unilateral U.S. solutions and instead requires international cooperation. They warn against thinking that America can go it alone.
But Globalists are right that while America is powerful, it is not omnipotent. Far more able than most countries to protect itself against the pernicious consequences of globalization, it is by no means invulnerable. Some crucial problems do defy unilateral solutions. Global warming is perhaps the most obvious case, but others include stopping the spread of weapons of mass destruction and fighting global terrorism. In other cases, such as protecting the American homeland from terrorist attack, unilateral action can reduce but not eliminate risks.
Similarly, unilateral American power may not be enough to sustain the benefits of globalization. Globalization is not irreversible. World War I, the Russian Revolution, and the Great Depression combined to strangle the economic and social interactions that emerged early in the 20th century. Economic globalization today rests on an intricate web of international trade and financial institutions. Extending, developing, and improving these institutions requires the cooperation of others. Without it, the benefits of globalization, which help to underwrite American power, could erode.
Both Americanists and Globalists understand essential truths about the world today. Power continues to matter, but power alone will often not be enough to achieve our goals. A pragmatic American internationalism would recognize that we do not need to pick between these two truths. Both should guide American foreign policy.
Finally, U.S. policy must take the lead in creating effective international institutions and arrangements to handle new challenges, especially those arising from the downside of globalization. The United States must lead not only because it alone can help the international community overcome its collective-action problems, but because it is most likely to be hurt by inaction. Just as one example, an international system for reporting and monitoring research in dangerous pathogens could provide early warning if biotechnologists create such pathogens either deliberately or inadvertently.
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Now in its fourth edition, this internationally successful text has been fully revised and updated in light of recent developments in world politics, with new chapters on the changing nature of war, human security, and international ethics. A comprehensive introduction to international relations, it is ideally suited to students coming to the subject for the first time. It provides a coherent, accessible, and lively account of the globalization of world politics. FEATURES * Contains work from an impressive line-up of international contributors who are experts in their fields; the chapters have been carefully edited in order to ensure an integrated and coherent style throughout the book * Covers history, theory, structures and processes, and international issues * Offers a visually stunning 4-color interior * Enhanced by a comprehensiveCompanion Website(www.oup.com/uk/orc/bin/9780199297771/) that includes a test bank, PowerPoint slides, case studies, multiple-choice questions, links to journal articles, a flashcard glossary, and--new to this edition--video clips, video pod-casts of contributors, and a news feed NEW TO THIS EDITION * Three new chapters on the changing nature of war, human security, and international ethics * Each chapter includes a 400-word case study * More examples from the developing world
Globalization, or internationalization, is not a new phenomenon. The period through the end of the 19th century was also characterized by unprecedented economic growth and global integration. But globalization was interrupted in the first half of the 20th century by a wave of protectionism and aggressive nationalism, which led to depression and world war. International economic and political integration was reversed, with severe consequences.
Many developing countries have already taken advantage of the opportunities of the global economy. More rapidly globalizing countries, such as Brazil, China, Costa Rica, the Philippines, and Mexico on average doubled their share in world trade and raised per capita incomes by two thirds from 1980 to 1997. Their experience demonstrates that integration into the global economy can bring major advantages for developing countries.
The IMF seeks to mitigate the negative effects of globalization on the world economy in two ways: by ensuring the stability of the international financial system, and by helping individual countries take advantage of the investment opportunities offered by international capital markets, while reducing their vulnerability to adverse shocks or changes in investor sentiment.
Many countries are still in the earliest stages of integrating with the global economy. Even so, they must still shoulder the main responsibility for making globalization work to their advantage. A country opening up to the global economy should have the institutional capacity to implement necessary structural reforms (such as trade and capital account liberalization) and should adhere, as a general rule, to a flexible exchange rate regime.
But many poor countries simply do not possess the resources to start the process of fuller participation in the global economy. They need additional assistance from the international community. As a universal institution, the IMF is committed to maintaining its engagement with the world's poorest countries. As a guidepost for reducing world poverty, it has joined countries and other international institutions in supporting the 2015 Millennium Development Goals.
The fight against world poverty should be centered on the principle of "help for self-help". Poor countries must strive to establish peace, the rule of law, and good governance, as well as implement economic policies that encourage private initiative and integration into the global economy. Meanwhile, rich countries should be offering stronger financial support in the form of investment, official development assistance, and debt relief. Even more important, they should open up their markets in products where poor countries have a comparative advantage. 041b061a72