The European Economy: The Global Context by Christopher M. Dent

By Christopher M. Dent

The form of the area financial system is altering. Globalisation and regionalism have ended in the improvement of robust yet interdependent fiscal blocs. a lot financial power has shifted from the Atlantic to the Pacific zone. In view of this The ecu Economy argues that economists want a broader, around the globe base of data if those methods and their influence on Europe are to be totally understood. subject matters mentioned include:
* Europe's adventure of the growing to be pattern of regionalism
* the one market
* plans for fiscal union
* european enlargement
* Europe's triad rivals
* ecu exterior exchange and exchange relations
* know-how and innovation
* environmental issues
This clean method highlights the problems with a view to problem ecu nations into the twenty-first century.

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While this development has been reactive to global and regional interdependence, the motivation behind it has not been purely economic. Closer political ties have been achieved between the EU and other powers through such arrangements. In some cases, joint actions to overcome specific related problems have been the focus of co-operation, such as the special ‘drugs’ provisions in relations with the Andean Pact countries. The rich nations which form the EU are also under a moral obligation to extend numerous forms of assistance to the poorer developing countries in particular.

Links between what had to be achieved internally to unlock Europe’s competitive abilities and their external ramifications were made with an acknowledgement of the further globalisation of markets and economies. Chapter 2A of the White Paper stated that this had made it ‘no longer possible to divide industry and geographical areas into clearly identified and relatively independent segments’ (71), and hence the solutions proposed to improve European competitiveness had to be adapted to consider this.

Thus, Eur-opean responses to global and Global and regional interdependence 15 regional interdependence have taken on a distinct strategic dimension when meeting both types of challenge. Improving European competitiveness Despite the post-war technological and industrial advances that helped reassert the European economy’s status in the world, by the 1980s the term ‘Eurosclerosis’ had come to denote a cumulative inertness displayed in a wide range of its sectors and a general lack of dynamic growth potential.

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