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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Financial Statecraft: The Role of Financial Markets in American Foreign Policy

Financial Statecraft: The Role of Financial Markets in American Foreign Policy

Steil, Benn
Litan, Robert E.

Paperback

Series: Council on Foreign Relations/Brookings Institution Books

EconomicsInvesting & Finance

ISBN10: 0300138415
ISBN13: 9780300138412
Publisher: Yale Univ Pr
Published: Feb 1 2008
Pages: 224
Weight: 0.70
Height: 0.70 Width: 6.10 Depth: 9.10
Language: English

As trade flows expanded and trade agreements proliferated after World War II, governments--most notably the United States--came increasingly to use their power over imports and exports to influence the behavior of other countries. But trade is not the only way in which nations interact economically. Over the past two decades, another form of economic exchange has risen to a level of vastly greater significance and political concern: the purchase and sale of financial assets across borders. Nearly $2 trillion worth of currency now moves cross-border every day, roughly 90 percent of which is accounted for by financial flows unrelated to trade in goods and services--a stunning inversion of the figures in 1970. The time is ripe to ask fundamental questions about what Benn Steil and Robert Litan have coined as financial statecraft, or those aspects of economic statecraft directed at influencing international capital flows. How precisely has the American government practiced financial statecraft? How effective have these efforts been? And how can they be made more effective? The authors provide penetrating and incisive answers in this timely and stimulating book.

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