Global Archive

Last month, Germany voiced concerns over the inclusion of an Investor-State Dispute Settlement (ISDS) in the free trade agreement between the European Union and Canada. German objections also call into question the inclusion of an ISDS in the trade deal currently being negotiated between the EU and the United States. In an email interview, Timothy Josling, senior fellow at the Freeman Spogli Institute for International Studies at Stanford University, discussed the settlements and their role in international trade agreements. WPR: What is an Investor-State Dispute Settlement and how common is it in free trade agreements? Timothy Josling: Investor-State Dispute Settlement […]

“The System Worked.” That is the title of a new book by Daniel W. Drezner reviewing the role of institutions such as the International Monetary Fund and World Trade Organization in the global financial crisis. Although the world economy tanked in 2008, Drezner argues, multilateral organizations helped save it from collapse. It is unlikely that anyone will write a book about the current wars in the Middle East and Ukraine with a similar title. A pithy summary of the United Nations’ rifts over Syria or NATO’s inability to halt Russia from seizing Crimea could be “the system flopped.” While the […]

The list of applicants for the job of “international financial crisis manager” just got a bit longer. After two years of negotiations, Brazil, Russia, India, China and South Africa—known collectively as the BRICS—have unveiled a new international financial institution. The centerpiece of the aptly named New Development Bank is a $50 billion pool of resources set aside to fund infrastructure and other development projects in the BRICS countries. However, the group also announced the creation of the Contingent Reserve Arrangement (CRA), a $100 billion fund designed to provide short-term liquidity support to members of the group, similar to the Western-dominated […]

During the years of George W. Bush’s presidency, members of the Democratic Party’s foreign policy brain trust mocked his administration’s invocation of “coalitions of the willing” as a way to legitimize U.S. action in the international arena. They even derided Bush’s efforts to find other states to endorse U.S. policy as “coalitions of the billing.” Once back in control of the Oval Office, they maintained, Democrats would be able to utilize the United Nations and leading regional organizations, starting with NATO, to generate genuine support on the part of other major countries to back U.S. initiatives. Indeed, the first years […]