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Vol 21 No 11 Nov/Dec 2016

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Minilateralism: How Alliances, Soft Law, and Financial Engineering are Redefining Economic Statecraft


ISBN13: 9781107678569
Published: June 2014
Publisher: Cambridge University Press
Country of Publication: UK
Format: Paperback
Price: £20.99
Hardback edition , ISBN13 9781107053144



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Economic diplomacy is changing. The multilateral organizations that dominated the last half of the twentieth century no longer monopolize economic affairs.

Instead, countries are resorting to more modest 'minilateral' strategies like trade alliances, informal 'soft law' agreements, and financial engineering to manage the global economy. Like traditional modes of economic statecraft, these tools are aimed at both liberalizing and supervising international financial policy in a world of diverse national interests.

But unlike before, they are specifically tailored to navigating a post-American (and post-Western) world where economic power is more diffuse than ever before. This book explains how these strategies work and reveals how this new diplomatic toolbox will reshape how countries do business with one another for decades to come.

Subjects:
International Trade, Banking and Finance
Contents:
Introduction: rethinking cooperation in a multipolar world
1. Multilateralism's rise and fall
2. Playing the numbers in trade
3. Soft law in international finance
4. Hedging bets in the monetary system
5. Managing minilateralism