Journal Article
The Prospects of Human Rights in US–China Relations: A Constructivist Understanding (2020.01)
- Author : Hun Joon Kim
- Journal : International Relations of the Asia-Pacific
- Publisher : Oxford University Press
- Volume : 20(1)
- Publication Date : 2020년 1월
- DOI : 10.1093/irap/lcy020
- Abstract : What are the prospects of U.S.-China relations in the area of human rights? Skeptics maintain that human rights is no longer an issue between the United States and China. A traditional understanding of U.S.–China relations ignores the role of norms, while the constructivist perspective recognizes their independent effects. This paper links the traditional understanding of power politics between the United States and China with the study of constructivist norm research. The three findings of constructivist norm theories are relevant and applied to predict the status of human rights in U.S.-China relations: the historical construction of norms, the long-term and multifaceted effects of norms, and the persistence of norms. Based on these theoretical predictions, it is expected that, although convergence is not completely impossible, the past dynamic of competition and confrontation will continue and human rights will still be a contentious issue in U.S.-China relations.
The Rise of the US Federal Reserve as a World Monetary Authority: Revisiting the Volcker Shock (2019.12)
- Author : Kyuteg Lim
- Journal : The Korean Journal of International Studies
- Publisher : The Korean Association of International Studies
- Volume : 17(3)
- Publication Date : December, 2019
- Abstract : In the existing International Political Economy literature, the Volcker Shock has been widely regarded as historical significance in the development of international political economy. Three successive waves of IPE have evolved to highlight it respectively, as a subjugation of the US state to pressures of foreign states, to international financial power, and institutional configurations of US financial power. Without close attention to the particular role of the US Federal Reserve, however, these observations obscure the unprecedented process of a new mode of monetary governance. This paper argues that the Volcker Shock ushered in the rise of the US Federal Reserve as a world monetary authority in a way that the inner-making process of autonomous monetary policy became a new way of governing monetary and financial affairs. The Federal Reserve was able to pursue autonomous monetary policy far away from the economic management of the US government and at the same time to discipline banks in international financial markets. The Federal Reserve eventually established itself as a new kind of monetary authority between US government and international financial markets. This paper contributes to the study of international monetary power.
The Thailand-US Alliance after the Asian Financial Crisis: The Security Implications of International Economic Policy (2019.11)
- Author : Iordanka Alexandrova
- Journal : The Southeast Asian Review
- Publisher : Korean Association of Southeast Asian Studies
- Volume : 29(4)
- Publication Date : June, 2019
- Abstract : This article explains Thailand’s reduced commitment to the security alliance with the United States (US) in the aftermath of the Asian financial crisis of 1997-98. It argues that the economic pressure Washington applied against Bangkok was the primary cause of the change in Thailand’s policy. In the aftermath of the crisis, the US pushed for economic restructuring in Thailand, which hurt the interests of elite groups in the financial and corporate sectors, and the labor they employed. Fearing future losses, these social actors demanded that the leadership defend their interests against further foreign interference in the domestic economy. Thailand’s bargaining power vis-à-vis the US, however, remained relatively weak due to its excessive reliance for security on the great power ally. To regain policy autonomy, the governments of Chuan Leekpai and Thaksin Shinawatra attempted to minimize security dependency by reducing alliance commitment and investing in alternative strategies to improve Thailand’s own defensive capabilities.
Why, When, and How the US Dollar Was Established as World Money (2019.10)
- Author : Kyuteg Lim
- Journal : Peace Studies
- Publisher : Korea University Peace and Democracy Institute
- Volume : Vol.27 No.2
- Date : 2019. 10
Abstract : In the International Political Economy literature, it has been argued that either the strength of US national economy, US political power, or institutional developments determined the universal acceptance of the US dollar during the Bretton Woods era. These explanations do not appreciate the role of the US dollar outside the sphere of market exchange and the system of inter-states. Drawing on insights from the heterodox tradition of monetary thought, this paper argues that European states played a decisive role in developing the US dollar as world money in two ways. As European states used the US dollar as abstract measure of value for rebuilding their war-torn economies and issuing various debts, these European practices led to the institutionalization of the US dollar as world measure of value at the end of the Bretton Woods system. Furthermore, as European states began to place US dollar reserves in the Eurodollar market from the early 1960s, the dynamic of the Eurodollar market developed the US dollar as cross-border credit and debt relations in the early 1970s. In particular, US Treasury debts became ‘risk’-free assets crucial to financial globalization processes