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POL208Y1 (477)

inter law--with colour/bolding of key points

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Political Science
John Haines

Pol208 January 25th lecture NTERNATIONAL LAWS AND NORMS: (First, continued from what he didnt finish about IPE...) Debt is not a bad thing, can be seen as investment in the future Focus on capacity of states to generate gross to repay their debts Spain and portugal, market doesnt believe they have the capacity to sustain their debt, so there is a premium increased in order to borrow money Debt is an import factor in USChina relationship China is owed the most by the US US debt is SO high it is more of a problem for the creditor ie: China than themselves This is a repeated problem, in 1980s US had similar situation owing Japan Economies of two countries becomes os intertwined that the level of interdependency is so high that the structure of the game pushes them to cooperate In the case of China and the US, China interprets in tis own way--US media tried to spin it in a way that paints China as confrontational Ex: Us media underlined new Chinese aircraft--focusing on competition btw. The two powers (US and China) but in reality they are very intertwined BECAUSE the cost of noncooperation is too high Lastly, there is some attempt to change criteria of GDP--bc GDp does not reflect properly the wealth of a nation Some argue Other factors should be included: Introduction of green criteria maybe?--this wouldnt be about wealth GDP is a poor indicator of satisfaction of population Every year poll for which country is the happiest--every year #1 is sweden or denmark--bc gap btw those who have and those who have not is minimal--level of inequality is the right indicator--gap btw. Rich and poor is minimal That constitutes a very import. Criteria for wealth of a nation Theme of today: role of international law and norms Plan: 1. Paradox of international law 2. Historical roots 3. Diff. Levels of inter law: constitutional, institutional, contractual 4. Role of norms--dynamics and change--reading of today Intro:
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