The EU and the Political Economy of Transatlantic Relations

Transatlantic economic relations remain extremely important for the European Union as well as for other countries in the world. When it comes to trade and foreign direct investment, the EU and the United States remain arguably the world’s most powerful actors, despite the financial crisis which started in the United States in 2007 and subsequently spread to Europe and to the Eurozone in particular. This crisis has created great economic strain on both Europe and North America, with politicians trying to muddle through and disagreeing on which strategy to adopt. The dominance of the Atlantic countries in the global political economy is now challenged by new emerging powers, including the so-called BRICS (Brazil, Russia, India, China and South Africa). These countries have succeeded in keeping much higher growth rates than Europe and North America, although they too are now affected by the global economic crisis. This book is focused on these issues as well as other issues in transatlantic relations, including competition and environment policy. Given the complex interdependence of transatlantic countries they need to work together to solve the issues that divide them. Cover Contents Preface Acknowledgements List of Abbreviations PART I. INTRODUCTION The EU and Transatlantic Economic Relations. Interdependence and Shifting Regime Constellations (Finn Laursen) The Looming Crisis. The Fiscal Unsustainability of Western Governments (Joseph J. DioGuardi) PART II. TRANSATLANTIC RELATIONS, ECONOMIC GOVERNANCE, AND SYSTEMIC RISKS The American and European Challenges. Financial Stabilization and Structural Reforms to Avoid Collapse, Limit Recession, and Promote Competitiveness (Ferran Brunet) Transatlantic Perspectives on Systemic Risk after the Crisis. Twin Objectives or an Uneasy Marriage? (Priva Nandita Pooran) PART III. TRANSATLANTIC RELATIONS AND TRADE Beyond the Competition for Liberalisation. Free Trade Agreements and the Emerging of the Transnational Competitive State (Maria Behrens) Embedding Liberalisation. Will CETA Undermine the Social Dimension of Transatlantic Integration? (Robert Finbow) The EU-Canada Comprehensive Economic and Trade Agreement and E-Commerce (Nanette Neuwahl and Nicolas Vermeys) The Other Transatlantic Relationship. The European Union and Latin America (Roberto Dominguez) PART IV. TRANSATLANTIC RELATIONS, COMPETITION POLICY, AND THE ENVIRONMENT In Search of a Coherent Transatlantic Antitrust Policy (Declan J. Walsh) EU and Canadian Merger Policy. Similar Origins and Divergent Regulations (Christian Marfels and James Sawler) The Role of the EU, the US, and China in Addressing Climate Change (Rafael Leal-Arcas) Why Are Canada and the EU Attacking Each Other’s Green-Energy Initiatives? The Limits and Tensions of Ecological Modernization (Anders Hayden) By Way of Conclusions. Explaining Transatlantic Economic Relations and Looking Towards the Future (Finn Laursen) List of Contributors Index