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POLB80 Lec 11 Notes.docx

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Political Science
Matthew Hoffmann

POLB80 Lecture 11 Monday, November 25, 2013 Instance Exercise China and Europe to begin Trade Talks BY REUTERS - Distribution of power and wealth  rise of China - Importance of Global Economy  common concern - Consequences of Free Trade /Benefits of Free Trade o Disputes over what consequences of free trade, in terms of mass production of goods o China being the largest producer of solar panel (low prices to grab market share) “No matter what you think of it, this is a historic deal,” said Vali R. Nasr, the dean of the John Hopkins School ofAdvanced International Studies. “It is a major Seismic Shift in the region. It rearranges the entire chess board.” From NYT November 25, 2013. - International community worries about Iran going beyond the 3.5 percent of nuclear. o Thinks that going past 20%, can go easily to 90% and make nuclear weapons. - Give both sides a longer time to negotiate - Too early to tell if it’s a good deal or not. - Some voices within world politics say that it will change the Middle East politics International Political Economy - Different Faces of IPE o Political bargaining over economic issue. Politics of economics. Economics influences politics. Benefits from global free trade influence the political relationship among states. o Interactions, how does global trade influence states and how that influences the global economy? How global capitalism puts constraints on what actors can do politically. o Economic globalization  Global financial flows/trade/economy,  Economic activity  Use rules/regimes to get benefits of global economic activity. - IR Theories and IPE o Realism – Mercantilism (set of suggestions for foreign economy)  Politics Trumps Economics • Economic goals and policy are tools for state power goals • Mercantilist Policy o Doing everything economically to secure state power. o Free trade without tariffs, able to sell exports everywhere for cheap. High tariffs, others will cost more • Economics is just another form of power o Liberalism  Politics Separate from Economics • Ensure free trade, efficiency is the goal • Get absolute gains from trades. Get mutual benefits from trade • Global free trade to maximize economic welfare • Try and enhance global cooperation and free trade. • Open liberal economy open publicly: cooperation, security dilemma diminish • Democratic peace: democracy does not fight other democracy. • Spread of capitalism/free trade brings in peace • Economics can do good, separate from politics, have good outcome, foster cooperation o Marxism  Economics Trumps Politics  Capitalist class against workers. Inherent tendency to imperialism  Economic tools aren’t tools of the eco class  Lead to conflict - Key Concepts - Key Institutions Dominant Worldview Today? - Global Capitalist Economy - Free Trade - Removal of Government Intervention in Economy - Removal of Controls on money flowing across boarders Three Big Issues in IPE - Sm
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