China, Europe, and the Pandemic Recession: Beijing’s Investments and Transatlantic Security

Given the depth and breadth of the pandemic-induced recession in Europe, private companies in need of capital and governments looking to shed state-owned enterprises may be tempted to sell shares, assets, or outright ownership to investors with liquidity to spare. Of greatest concern is the role that China might play in Europe, building Beijing’s soft power, weakening allied geopolitical solidarity, and potentially reprising the role it played in the 2010s, when its investments in Europe expanded dramatically. More specifically, there is concern over China’s investments in infrastructure and sensitive technologies relevant to American and allied military operations and capabilities. Whether Europe is prepared and able to parry Beijing’s economic statecraft is somewhat unclear, given varied attitudes toward China and the patchwork of investment screening mechanisms across the continent. Regardless, the outcomes will have significant implications for US security and for the Defense Department specifically. In support of US European Command (EUCOM) and the Department of Homeland Security (DHS), the U.S. Army War College’s Strategic Studies Institute (SSI) assembled an interdisciplinary team to examine these issues and offer actionable policy recommendations for military leaders and decisionmakers on both sides of the Atlantic. Study sponsors (nonfunding): United States European Command, United States Department of Homeland Securityhttps://press.armywarcollege.edu/monographs/1945/thumbnail.jp

Learning to be NICE: technology assessment as marketing at the National Institute for Clinical Excellence

The National Institute for Clinical Excellence (NICE) was created in 1999 to provide authoritative advice on medical best-practice, including guidance to the National Health Service on the clinical and cost-effectiveness of different drugs and new technologies. Government policy-makers designed NICE as an independent and technocratic organisation that would implement its mission with a 'product-oriented' strategy based upon an expert appraisal of existing evidence regardless of political pressures emanating from producer groups, health consumers and politicians. The research presented here argues that this strategy -which NICE prefers- is dependent upon the support of at least one of NICE's key stakeholders pharmaceutical companies and patient groups). Resistance from its stakeholders has led NICE to pursue a more 'market-oriented' strategy that uses its existing appeals procedures as an institutional mechanism for 'market research' among policy consumers. This research uses an empirical analysis of NICE technology assessment guidances and appeals decisions to demonstrate how NICE garners information from and is responsive to the interests of its target audiences

The monetary history of gold: a collection of historical documents, 1660-1999

This title presents a collection of documents relating to the monetary history of gold from the 17th century up to the present, covering specifically the rise of the gold standard, its heyday, and the period following

The Goldkrieg: Revaluing the Bundesbank's Reserves and the Politics of EMU. CES Germany & Europe Working Papers, No. 08.6, 1998

In May and June 1997, Germany's commitment to Economic and Monetaty Union (EMU) underwent its most serious test ever when the Bundesbank and the government of Chancellor Helmut Kohl dashed openly over the government's plans to revalue the country's gold reserves. Faced with a budget short-fall and strong political opposition to either tax increases or spending cuts, Finance Minister Waigel attempted to introduce a modest change in the Bundesbank's bookkeeping procedures to bring them in line with the standard practices at other European central banks. The Bundesbank resisted, arguing that the changes would infringe upon its closely guarded independence. This paper analyzes how the politics of coalition interacted with Germany's political institutions to cause this conflict

Private interests and exchange rate politics: The case of British business

We use surveys of British businesses to test the relative influence of monetary and 'real' economic factors on private sector interests towards European monetary integration. We show that firms trading with the European Union have a preference for a fixed exchange rate (in both the European Monetary System and euro membership). On the other hand, firms not trading with the rest of the EU do not hold such preferences. In addition, firms with parent companies in other EU member states favour euro membership. However, contrary to conventional theories of political economy, firms trading more widely (that is, extra-European trade) also prefer euro membership, despite being less dependent on intra-EU trade. Moreover, in later surveys, exporting firms appear to prefer a strong pound, contrary to received wisdom.British business; Economic and Monetary Union; euro; European Monetary System; exchange rates; preferences