Abstract
The transatlantic relationship is at an impasse. The basic premises and reciprocity that once informed this political consensus no longer carry much weight on either side of the Atlantic. Yet the further deterioration of the Atlantic framework would only serve to reinforce American impulses towards unilateralism, to fuel existing European distrust of the US, and to weaken the multilateral framework for international relations that has served both Europe and America so well for the past half century.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Similar content being viewed by others
Notes
S. Fisher, ‘On the Need for an International Lender of Last Resort’ (1999) 13 Journal of Economic Perspectives 85.
R. Gilpin, Global Political Economy: Understanding the International Economic Order (Princeton: Princeton University Press, 2001), at p. 274
A very authoritative account of this shift in policy is offered by Professor Stiglitz, who served as the chief economist of the World Bank between 1996 and 1999: ‘The most dramatic change in these institutions occurred in the 1980s, the era when Ronald Reagan and Margaret Thatcher preached free market ideology … The IMF and the World Bank became the new missionary institutions, through which these ideas were pushed on the reluctant poor countries that often badly needed their loans and grants.’ Joseph E. Stiglitz, Globalization and its Discontents (New York: Norton & Co., 2002), at p. 13. [Hereinafter, Stiglitz, Globalization].
See generally R. Gilpin, The Challenge of Global Capitalism: the World Economy in the 21st Century (Princeton, NJ: Princeton University Press, 2000).
R. Brady, Kapitalizm: Russia’s Struggle to Free its Economy (New Haven: Yale University Press, 1999); Stiglitz, Globalization, Chapters 5 & 6.
See also Amy Chua, The World on Fire (New York: Doubleday, 2003), at pp. 76–9 & 82–94. [Hereinafter, Chua, The World on Fire].
Russia’s GDP in 2000 was ‘less than two-thirds of what it was in 1989 … Ukraine’s 2000 GDP is just a third of what it was a decade ago.’ See Stiglitz, Globalization, at pp. 152–5; J.F. Hough & M.H. Armacost, The Logic of Economic Reform in Russia (Washington, DC: Brookings Institution, 2001). The best and most provocative journalistic account of Russian privatizations is offered by Chrystia Freeland in her book: Sale of the Century: the Inside Story of the Second Russian Revolution (London: Little, Brown, 2000), which became the subject of extensive discussion in the US and international journalistic and academic circles.
M. McFaul, Russia’s Unfinished Revolution: Political Change from Gorbatchev to Putin (Ithaca, NY: Cornell University Press, 2001).
Archie Brown & L. Fedorovna Shevstkova (eds), Gorbachev, Yeltsin and Putin: Political Leadership in Russia’s Transition (Washington, DC: Carnegie Endowment of International Peace, 2001).
A. Cohen, ‘Russia’s Meltdown: Anatomy of the IMF Failure’, Heritage Foundation Backgrounders No. 1228, 23. 10. 1998; Stiglitz, Globalization, at pp. 157–75.
Editor information
Editors and Affiliations
Copyright information
© 2006 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Andrews, D., Wallace, H. (2006). Mending the Transatlantic Partnership. In: Kotzias, N., Liacouras, P. (eds) EU-US Relations. Palgrave Macmillan, London. https://doi.org/10.1057/9780230503670_32
Download citation
DOI: https://doi.org/10.1057/9780230503670_32
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-4039-3521-2
Online ISBN: 978-0-230-50367-0
eBook Packages: Palgrave Political & Intern. Studies CollectionPolitical Science and International Studies (R0)