Transatlantic Economic Challenges in an Era of Growing Multipolarity
- Jacob Funk Kirkegaard() (Peterson Institute for International Economics)Nicolas Véron() (Peterson Institute for International Economics)Guntram B. Wolff(Bruegel)
AbstractShifts in global economic dominance are by nature tectonic and never precipitated by single events. The Great Recession of 2008-09, however, has presented the European Union, its common currency the euro, and the United States with new global challenges. The transatlantic partnership has dominated the world economy since the early 20th century and, based upon US and European values and interests, has designed and sustained all its principal global political and economic institutions. But countries outside the European Union and United States now account for about half of the world economy, and in the aftermath of the Great Recession their share is growing rapidly. Hence their increasing role and concomitant demands for greater influence over global economic governance pose a series of challenges and opportunities to the European Union and the United States, as illustrated by the eclipse of the G-8 by the G-20. The contributions in this volume by subject area experts from the Peterson Institute for International Economics and Bruegel ponder how or whether the rise of outside actors of potentially equal, or even greater, economic weight will invariably force a rethinking of not only how the European Union and the United States should conduct policy externally towards the new rising economic poles, but also of the substantive contents of the EU-US bilateral economic and political relationship.
- Jacob Funk Kirkegaard & Nicolas Véron & Guntram B. Wolff (ed.), 2012. "Transatlantic Economic Challenges in an Era of Growing Multipolarity," Peterson Institute Press: All Books, Peterson Institute for International Economics, number sr22.Handle: RePEc:iie:ppress:sr22
Note: Special Report 22
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- Jacob Funk Kirkegaard & Nicolas Véron & Guntram B. Wolff, . "Transatlantic economic challenge in an era of growing multipolarity," Books, Bruegel, number 735, January.
- Jacob Funk Kirkegaard, 2012. "Transatlantic Economic Challenges in an Era of Growing Multipolarity," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 6451 edited by Nicolas Véron & Guntram B. Wolff.
References listed on IDEAS
- Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "From Financial Crash to Debt Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 1676-1706, August.
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