The Role of the EU in Setting Global Rules

    • IMG_3366
    • Presentation speakers
      • Anna Tsibulina, Moscow State Institute of International Relations, MGIMO, Russia

    Abstract:

    Almost all spheres of world politics and international economy are experiencing a period of transition now. This transition has been accelerated by the global economic crisis which puts under question the hegemonic role of the US and fundamentally reveals structural factors, namely the higher trend growth rate and related increase of economic and political role of developing countries in general, exemplified by the BRICS. Global challenges such as the stability and ordering of the international financial system, regionalism versus multilateralism in trade matters, environmental issues, human rights, energy security etc. face all the countries and require joint actions. Back in 1991 the then foreign minister of Belgium Mark Eyskens emphasized great economic achievements of the EU and described it as an economic giant, a political dwarf and a military worm. While most of those achievements can be measured by well-known indicators it is much more complex to assess so called “non-traditional gains’ of economic integration. One of these gains is ability of countries (especially of smaller ones) to better coordinate their positions in multilateral negotiations in order to get better outcomes. The paper analyzes the role of the EU in agenda and rule setting in international organizations which are designed to address global social and economic challenges. It also touches upon issues related to cooperation between the member-states with the EU which might precede its performance on the global arena. That is in turn raises issues of regionalism versus multilateralism in the global context and perspectives for global economic governance.

 

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