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Rising Powers and Economic Crisis in the Euro Area

  • Ferdi De Ville
  • Mattias Vermeiren

Part of the Global Reordering book series (GRP)

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Ferdi De Ville, Mattias Vermeiren
    Pages 1-9
  3. Ferdi De Ville, Mattias Vermeiren
    Pages 11-38
  4. Ferdi De Ville, Mattias Vermeiren
    Pages 39-69
  5. Ferdi De Ville, Mattias Vermeiren
    Pages 71-96
  6. Ferdi De Ville, Mattias Vermeiren
    Pages 97-125
  7. Ferdi De Ville, Mattias Vermeiren
    Pages 127-144
  8. Back Matter
    Pages 145-155

About this book

Introduction

In this book,  Ferdi De Ville and Mattias Vermeiren examine the linkages between the economic crisis in the euro area and the rise of Brazil, India and China (BICs) in the global monetary and trading system.  Drawing on the insights of the comparative capitalism literature, the authors show that the latter development has been a key source of the escalation of trade imbalances in the euro area, which are widely seen as an important cause of the financial and economic crisis in the region. By pointing to the external source of these imbalances and the divergent institutional capacity of the euro area countries to deal with the intensified competition associated with the rise of the BICs, De Ville and Vermeiren go beyond the focus on the divergence in unit labor costs as the driving force of these imbalances. As such, this book provides a comprehensive policy critique of the EU’s export-led growth strategy based on declining unit labor costs.

Keywords

Eurozone Euro area Euro crisis Rising powers Brazil India China Monetary system Trade System Comparative capitalism

Authors and affiliations

  • Ferdi De Ville
    • 1
  • Mattias Vermeiren
    • 2
  1. 1.Department of Political ScienceGhent UniversityGentBelgium
  2. 2.Department of Political ScienceGhent UniversityGentBelgium

Bibliographic information

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