Globalization's limits: conflicting national interests in trade and finance/
Dimitris N. Chorafas.
- Farnham, England ; Burlington, VT : Gower Pub., 2009.
- viii, 337 p. : ill. ; 26 cm.
Includes bibliographical references and index.
PART I UNITED STATES, EUROPE, CHINA AND THE WORLD MARKET 1 Globalization in Motion 1. China Enforces the Racial Equality Clause 2. Global Rebalancing 3. China and India as Large Emerging Countries 4. Emerging Markets Raise Concerns in OECD Member Nations 5. Globalization's Prerequisites 6. Impact of a Hollowing Economy on the Middle Class 7. The Argument Against Free Trade 8. Globalization's Unexpected Consequences 9. The Greatest Danger of All is Protectionism 2 The Rise of Asian Giants 1. A Snapshot of China's Position 2. Is China Emulating Japan's Rising Sun? 3. India versus China 4. Global Firms from Emerging Countries 5. State Planning as Alternative to Global Firms 6. Tlie Great Leap Forward in Technology Recalls Mao's Time 7. Pollution, Too, Got Out of Hand 8. Contrarian Opinions about China's Commercial Threat 3 Globalization and the European Union 1. Free Market, Competition, Globalization and the EU 2. Failed Tests of Globalization in the EU 3. Aftermath of Globalization on the European Economy 4. Italy's Decline as Industrial Power: An Example 5. Competitiveness Should Never Be Taken for Granted 6. Italian Textiles versus Chinese Textiles: A Case Study 7. The Italian Economy Needs Both Fiscal Discipline and Discipline at Large 4 World Trade, China Price and the Doha Round 1. The Management of Change in a Service Economy 2. Economic Integration and the Anticipation of 'Better Days' 3. China Price and the WTO 4. Is China Losing its Price Advantage? 5. Doha Round: A Case Study in Globalization's Unexpected Consequences 6. Inflated Food Prices and Increased Health Hazard 7. Conflicts of Interest in Global Trade Talks 8. Dead Cat Walking: Doha in 2008 PART II THE GLOBALIZATION OF FINANCE 5 Sovereign Wealth Funds 1. The Sovereign Wealth Fund Call 2. The Sovereign Wealth Fund Put 3. State Capitalism: A Way to Get Back Money Loaned to Rich Nations 4. Human Resources: One of the SWFs Main Challenges 5. How to Destroy a Franchise 6. New Investment Strategies by SWFs 7. SWFs of China and Singapore. An Example 8. Sovereign Wealth Funds and the Dollar > Risks and Opportunities in Globalized Financial Markets L Financial Markets 2. Financial Centres 3. Market Liquidity 4. The Central Banks' Liquidity Control 5. The Globalization of Concentration Risk 6. The Difficulty of Distinguishing Bankers from Speculators 7. Who is Responsible: Capitalism or Human Nature? 7 Monetary Policy in a Global Economy 1. Responsibility for Monetary Policy: The Fed in August 2007 2. Monetary Base and Money Supply: Ml and M3 3. Who Establishes Global Monetary Supply? 4. Tlie Financial Industry's Money Supply Glut 5. Economic Policy and Global Imbalances 6. Currencies and the Global Financial Market 7. Redressing a Falling Currency: A Case Study 8. The Chinese Sense of a Crisis 8 China's Banks and the Economy 1. Close Ties to the Government Breed Corruption 2. Solvency and Liquidity of Chinese Banks 3. China's Soft Underbelly is Financial Staying Power 4. How to Prune the System of its Excesses 5. Economic Nationalism can Damage China's Economy 6. Mistakes Which Should Have Been Avoided 7. Is China Ally or Antagonist of the United States? PART III EUROLAND: CASE STUDY ON THE LIMITS OF A REGIONAL GLOBALIZATION 9 Financial Integration in the European Union 1. Is the EU a Modern Integrated Economy? 2. The Low Road to Financial Integration 3. Lisbon Agenda, The European Commission's Action and Inaction Plans 4. Markets in Financial Instruments Directive by EU Commission 5. Current Issues Relating to Trans-Border Integration 6. The Lack of Integration in Euroland's Banking Industi 7. Banking Regulation and the Home-Host Challenge 8. Beware of Model Risk 10 The Euro: Curse or Blessing for the EU Economy? 1. The Euro's Tenth Anniversary and Ireland's Debacle 2. Establishing a Sustainable and Credible Common Currency 3. The Birth of European Monetary Union and Advent of the Euro 4. The Euro is a Currency without a Country 5. Challenges of a Single Currency 6. A Positive Example. Germany Thrives with the Euro 7. Italy's and the Euro's Years of Crisis are Not Over 8. Exit the Euro: A Simulation by Standard & Poor's 11 Euroland's Missed Opportunities 1. Political Union Would Have Been the Better Solution 2. Clash of Dirigisme and of Free Economy 3. Treaty of Lisbon and ECB 4. The EU President's Accountability 5. Euroland's Stability and Growth Pact 6. Fireworks with Financial Stability 7. Risk Management: The Way to Come Up from Under