Advertisement

Middle Powers in the International Political Economy

  • Mark Beeson
Chapter
Part of the Palgrave Handbooks in IPE book series (PHIPE)

Abstract

This chapter considers the prospects for middle powers to play a more influential role in the international political economy. Given that the international economy has been plagued by recurrent crises of late, this ought to be an arena in which policy innovation was welcome. The reality, however, is rather different: great powers continue to dominate and middle powers remain constrained by wider geopolitical constraints and considerations. These claims are illustrated in the case of Australia, a country that has been at the forefront of middle power activism and policy debates.

References

  1. Armstrong, S. 2015. The Costs of Australia’s ‘Free Trade’ Agreement with America. East Asia Forum, February 8.Google Scholar
  2. Baker, A. 2010. Restraining Regulatory Capture? Anglo-America, Crisis Politics and Trajectories of Change in Global Financial Governance. International Affairs 86 (3): 647–663.CrossRefGoogle Scholar
  3. Beeson, M. 2011. Can Australia Save the World? The Limits and Possibilities of Middle Power Diplomacy. Australian Journal of International Affairs 65 (5): 563–577.CrossRefGoogle Scholar
  4. ———. 2015. Can ASEAN Cope with China? Journal of Current Southeast Asian Affairs 35 (1): 5–28.CrossRefGoogle Scholar
  5. Beeson, M., and S. Bell. 2009. The G-20 and International Economic Governance: Hegemony, Collectivism, or Both? Global Governance 15 (1): 67–86.CrossRefGoogle Scholar
  6. Beeson, M., and A. Broome. 2010. Hegemonic Instability and East Asia: Contradictions, Crises and US Power. Globalizations 7 (4): 479–495.Google Scholar
  7. Beeson, M., and R. Higgott. 2014. The Changing Architecture of Politics in the Asia-Pacific: Australia’s Middle Power Moment? International Relations of the Asia-Pacific 14 (2): 215–237.CrossRefGoogle Scholar
  8. Beeson, M., and J. Wilson. forthcoming. Geoeconomics and US Leadership in Asia: The Rise and Fall of the Trans Pacific Partnership. In Handbook of the United States in Asia, ed. Andrew Tan. London: Routledge.Google Scholar
  9. Behringer, R.M. 2012. The Human Security Agenda: How Middle Power Leadership Defied US Hegemony. London: Continuum.Google Scholar
  10. Bell, S., and A. Hindmoor. 2015. Masters of the Universe, Slaves of the Market. Cambridge, MA: Harvard University Press.CrossRefGoogle Scholar
  11. Berkelmans, L., and T. Sainsbury. 2016. Why the G20’s Growth Pledges Have Foundered. Lowy Institute, April 14. https://www.lowyinstitute.org/publications/why-g20s-growth-pledges-have-foundered
  12. Blyth, M. 2013. Paradigms and Paradox: The Politics of Economic Ideas in Two Moments of Crisis. Governance 26 (2): 197–215.CrossRefGoogle Scholar
  13. Browne, A. 2017. A U.S.-China Role Switch: Who’s the Globalist Now? Wall Street Journal, January 24.Google Scholar
  14. Callick, R. 2016. ASEAN’s Future Dim After Weak Statements on China Sea Ruling. The Australian, July 27.Google Scholar
  15. Cameron, M.A., R.J. Lawson, and B.W. Tomlin. 1998. To Walk Without Fear: The Global Movement to Ban Landmines. Toronto: Oxford University Press.Google Scholar
  16. Carr, A. 2014. Is Australia a Middle Power? A Systemic Impact Approach. Australian Journal of International Affairs 68 (1): 70–84.CrossRefGoogle Scholar
  17. Chan, S. 2008. China, the US, and the Power-Transition Theory. London: Routledge.Google Scholar
  18. Cooley, A. 2015. Countering Democratic Norms. Journal of Democracy 26 (3): 49–63.CrossRefGoogle Scholar
  19. Cooper, A.F. 2010. The G20 as an Improvised Crisis Committee and/or a Contested ‘Steering Committee’ for the World. International Affairs 86 (3): 741–757.CrossRefGoogle Scholar
  20. Cooper, A.F., R.A. Higgott, and K.R. Nossal. 1993. Relocating Middle Powers: Australia and Canada in a Changing World Order. Carlton/Victoria: Melbourne University Press.Google Scholar
  21. Crotty, J. 2009. Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’. Cambridge Journal of Economics 33 (4): 563–580.CrossRefGoogle Scholar
  22. Dicken, P. 2011. Global Shift: Mapping the Changing Contours of the Global Economy. 6th ed. New York: Guilford Press.Google Scholar
  23. Drezner, D.W. 2007. All Politics is Global: Explaining International Regulatory Regimes. Princeton: Princeton University Press.Google Scholar
  24. Evans, G. 2015. Time for Middle Powers to Step Up. East Asia Forum Quarterly 7 (2): 7–9.Google Scholar
  25. Gaddis, J.L. 1997. We Now Know: Rethinking Cold War History. Oxford: Oxford University Press.Google Scholar
  26. Gourevitch, P. 1986. Politics in Hard Times: Comparative Responses to International Economic Crises. Ithaca: Cornell University Press.Google Scholar
  27. Greber, J., A. McCathie, and J. Kehoe. 2017. G20 Submits to Trump. Australian Financial Review, March 20.Google Scholar
  28. Haley, J.A. 2017. The G20 and the End of the American Century. Financial Times, July 19.Google Scholar
  29. Harding, R. 2017. Trump Withdrawal from TPP Creates High Stakes Turmoil. Financial Times, May 4.Google Scholar
  30. Helleiner, E., and S. Pagliari. 2011. The End of an Era in International Financial Regulation? A Postcrisis Research Agenda. International Organization 65 (01): 169–200.CrossRefGoogle Scholar
  31. Higgott, R., and A. Cooper. 1990. Middle Power Leadership and Coalition Building: Australia, the Cairns Group, and the Uruguay Round. International Organization 44 (4): 589–632.CrossRefGoogle Scholar
  32. Hodge, A. 2017. Donald Trump Is Bulldozing Allies of Obama’s China Pivot. The Australian, January 14.Google Scholar
  33. Hung, H.-f. 2013. China: Saviour or Challenger of the Dollar Hegemony? Development and Change 44 (6): 1341–1361.CrossRefGoogle Scholar
  34. Ikenberry, G.J. 1998. Institutions, Strategic Restraint, and the Persistence of the American Postwar Order. International Security 23 (3): 43–78.CrossRefGoogle Scholar
  35. Ikenberry, G.J., and J. Mo. 2013. Middle-power leadership and the evolution of the G20. In The Rise of Korean Leadership: Emerging Powers and Liberal International Order, ed. G.J. Ikenberry and J. Mo, 17–30. New York: Palgrave Macmillan US.CrossRefGoogle Scholar
  36. Irwin, N. 2016. What Donald Trump Doesn’t Understand About the Trade Deficit. New York Times, July 21.Google Scholar
  37. Kirshner, J. 2014. American Power After the Financial Crisis. Ithaca: Cornell University Press.Google Scholar
  38. Konings, M. 2009. The Construction of US Financial Power. Review of International Studies 35 (01): 69–94.CrossRefGoogle Scholar
  39. Kurlantzick, J. 2011. The Belligerents. New Republic, January 27.Google Scholar
  40. Lee, S., and A. Milner. 2014. Practical vs. Identity Regionalism: Australia’s APC Initiative, a Case Study. Contemporary Politics 20 (2): 209–228.CrossRefGoogle Scholar
  41. Lee, C.K., and D. Strang. 2006. The International Diffusion of Public-Sector Downsizing: Network Emulation and Theory-Driven Learning. International Organization 60 (04): 883–909.CrossRefGoogle Scholar
  42. Lewis, R. 2017. We Will Enact ANZUS Over North Korea: Turnbull. The Australian, August 11.Google Scholar
  43. Luttwak, E. 1990. From Geopolitics to Geo-Economics. The National Interest 20 (Summer): 17–23.Google Scholar
  44. Mastanduno, M. 2009. System Maker and Privilege Taker: U.S. Power and the International Political Economy. World Politics 61 (1): 121–154.CrossRefGoogle Scholar
  45. Murdoch, L. 2017. Move to Salvage Trans-Pacific Partnership Gathers Steam on APEC sidelines. Sydney Morning Herald, November 10.Google Scholar
  46. Puzzanghera, J. 2017. House Votes Along Party Lines to Repeal Key Dodd-Frank Financial Reforms. Los Angeles Times, June 8.Google Scholar
  47. Reinhart, C.M., and K.S. Rogoff. 2009. This Time Is Different: Eight Centuries of Financial Folly. Princeton: Princeton University Press.CrossRefGoogle Scholar
  48. Rethel, L., and T.J. Sinclair. 2012. The Problem with Banks. London: Zed Books.Google Scholar
  49. Robertson, P. 2017. Why Trump Just Doesn’t Get Trade. Australian Financial Review, January 5.Google Scholar
  50. Rudd, K. 2009. The Global Financial Crisis. The Monthly (42).Google Scholar
  51. Ruggie, J.G. 1982. International Regimes, Transactions and Change: Embedded Liberalism in the Postwar Economic Order. International Organization 36 (2): 379–415.CrossRefGoogle Scholar
  52. ———. 1993. Multilateralism: The Anatomy of an Institution. In Multilateralism Matters: The Theory and Praxis of an Institutional Form, ed. J.G. Ruggie, 3–47. New York: Columbia University Press.Google Scholar
  53. Skidmore, D. 2011. The Unilateralist Temptation in American Foreign Policy. New York: Routledge.CrossRefGoogle Scholar
  54. Stiglitz, J.E. 2007. Making Globalization Work. New York: W.W. Norton.Google Scholar
  55. Stone, D. 2008. Global Public Policy, Transnational Policy Communities, and Their Networks. Policy Studies Journal 36 (1): 19–38.CrossRefGoogle Scholar
  56. Streeck, W. 2014. Buying Time: The Delayed Crisis of Democratic Capitalism. London: Verso Books.Google Scholar
  57. Sturgeon, T.J., and G. Gereffi. 2009. Measuring Success in the Global Economy: International Trade, Industrial Upgrading, and Business Function Outsourcing in Global Value Chains. Transnational Corporations 18 (2): 1–35.CrossRefGoogle Scholar
  58. Tett, G. 2009. Fool’s Gold: How Unrestrained Greed Corrupted a Dream, Shattered Global Markets and Unleashed a Catastrophe. London: Little, Brown.Google Scholar
  59. Wade, R.H. 2011. Emerging World Order? From Multipolarity to Multilateralism in the G20, the World Bank, and the IMF. Politics and Society 39 (3): 347–378.CrossRefGoogle Scholar
  60. Wagstyl, S., A. Beesley, A. Barker, and J. Politi. 2017. Trump Flexes Muscle Against Pillars of Postwar Order. Financial Times, January 17.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Mark Beeson
    • 1
  1. 1.University of Western AustraliaPerthAustralia

Personalised recommendations