European Parliament Library

From centralised to decentralising global economic architecture, the Asian perspective, Pradumna Bickram Rana, Xianbai Ji, editors

From centralised to decentralising global economic architecture, the Asian perspective, Pradumna Bickram Rana, Xianbai Ji, editors
Bibliography note
Includes bibliographical references and index
index present
Literary Form
non fiction
Main title
From centralised to decentralising global economic architecture
Nature of contents
Responsibility statement
Pradumna Bickram Rana, Xianbai Ji, editors
Sub title
the Asian perspective
Table Of Contents
Intro -- Foreword -- Preface -- Contents -- Notes on Contributors -- Abbreviations -- List of Figures -- List of Tables -- 1 Introduction and Overview -- Introduction -- Different Interpretations of Decentralisation -- Scope of the Study -- Theoretical Framework and Methodology -- Chapter Overviews -- The Role of Asia -- References -- 2 The Evolution of Global Oversight Institutions: From the Library Group to the Group of Twenty -- Introduction -- From the Library Group to the G20 -- Strengthening the Gx's "Whole-Process Legitimacy" -- Substantive Legitimacy -- Input Legitimacy -- Output Legitimacy -- Whole-Process Legitimacy -- Promoting Complementarity Within Gx and Between Gx and Other Global Bodies -- Conclusion -- References -- 3 International Monetary and Economic Development Architecture: Complementarity Between Global and Regional Institutions -- Introduction -- Theoretical Framework and Methodology -- Decentralising Global Financial Architecture -- Multi-Layered Global Financial Safety Net -- Ad Hoc Complementarity Between ASEAN+3 RFSN and the IMF -- Why ASEAN+3 RFSN Was Not Been Used During the COVID-19 Pandemic? -- From Ad Hoc to Structured ASEAN+3 RFSN and IMF Cooperation -- AMRO and IMF Cooperation -- Limits to Functional Complementarity and "Healthy" Competition Between ASEAN+3 RFSN and IMF -- Decentralising Economic Development Architecture -- China and Non-traditional MDBs -- Issues Confronting Non-traditional MDBs -- AIIB, NDB, and "Healthy" Competition with Traditional MDBs -- Potential for Functional Cooperation Between Traditional and Non-traditional MDBs -- AIIB, NDB, and Limits to Cooperation and "Healthy" Competition with Traditional MDBs -- Conclusions -- References -- 4 Promoting Development Bank Complementarity in Asia -- Introduction -- Overview of the Four MDBs -- European Investment BankEuropean Bank for Reconstruction and Development -- Asian Development Bank -- Asian Infrastructure Investment Bank -- Tri-Partite Coordination -- Sectoral Complementarities -- Geographical Division of Labour -- Project Co-Financing -- Concluding Remarks -- References -- 5 Reforming the Global Reserve System -- Introduction -- Problems of the Present Global Reserve System -- Reform Proposals -- Multi-Currency Reserve System -- Establish an SDR-Based GRS Under the IMF -- Strengthening the Decentralising/Multi-Layered Global Financial Safety Net -- Establish a New International Institution to Issue Global Currency -- Conclusion -- References -- 6 The Evolving International Monetary System: Will Dollar Hegemony Outlive the Digital Revolution? -- Introduction -- The Bretton Woods System: The Last Gold-Standard System -- A System Without Hard Anchor -- US Dollar Hegemony: Benefits, Costs, and Threats -- Benefits of Dollar Hegemony to the US -- Costs of Dollar Hegemony to the US and Peripheral Countries -- Global Imbalance and Deindustrialisation in the US -- Global Imbalances and Financial Crises in Peripheral Countries -- Weakening US-China Symbiotic Co-Existence -- Potential Factors that Could Undermine Dollar Hegemony -- Towards the Era of Digital Currencies -- Conclusions -- References -- 7 Managing the Decentralising International Trade Architecture -- Introduction -- From Centralised to Decentralising Trade Architecture -- Growing Popularity of "New Regionalism" in the 1990s -- Beginning of Mega-FTA Negotiations Post-Global Economic Crisis -- Global Responses to Trump's Protectionist Trade Agenda -- Benefits and Risks -- Benefits of Regionalism and Decentralisation -- Risks of Regionalism and Decentralisation -- Managing Trade Decentralisation -- Role of Asia -- Conclusion -- References8 Strengthening the International Financial Regulation Architecture -- Introduction -- IFRA and Its Evolution -- Pre-Asian Financial Crisis IFRA -- Post-Asian Financial Crisis IFRA -- Post-GFC IFRA -- IFRA vs Other GEA Pillars -- IFRA in the Future -- Conclusion -- Appendix 8.1 -- References -- Index

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