Trade and the global economy

Woolcock, Stephen (2024) Trade and the global economy. In: The Policies and Power of Public Diplomacy: Wilton Park's Road. Taylor and Francis Inc., pp. 414-426. ISBN 9781040362228

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Abstract

The increased frequency of conferences on international economic topics towards the end of the 1980s and during the 1990s suggests a shift in the relative importance given to these topics compared to foreign and security policy questions. European integration was seen as offering a means of responding to international economic competition from Japan and the USA in the 1980s and as a response to the instability in international monetary relations under floating exchange rates post-Bretton Woods, especially when economic co-operation with the US was not forthcoming. In the absence of a deep common economic framework, the EU and US appeared at times to have rival rather than complementary interests. Whereas the US has solid security treaties with both Japan and most European countries, Japan-EU relations remained looser, focusing on just trade and investment. With the benefit of hindsight, it might be argued that had there been greater inclusion and thus buy-in from emerging countries in international economic decision-making, some of today’s difficulties, including the lack of progress in international trade negotiations, might have posed less of a structural problem in the global economy.

Item Type:	Book Section
Additional Information:	© 2025 The Author
Divisions:	LSE
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce
Date Deposited:	12 Jun 2025 11:45
Last Modified:	12 Jun 2025 23:16
URI:	http://eprints.lse.ac.uk/id/eprint/128381

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