Asia & the Pacific

The most significant challenge to the post–Cold War international order is the growing power of ambitious states opposed to the West. Iran, Russia and China each view the global structure through the prism of historical experience. Rejecting the universality of Western liberal values, these states and their governments each consider the relative decline of Western economic hegemony as an opportunity. Yet cooperation between them remains fragmentary.

This Handbook offers a comprehensive overview of the latest research from leading scholars on the international political economy of energy and resources. Highlighting the important conceptual and empirical themes, the chapters study all levels of governance, from global to local, and explore the wide range of issues emerging in a changing political and economic environment.

The chapter discusses the EU as an actor in global energy, and shows that the EU – short of a strong set of policy tools – relies more than other players on exporting its own rules. It explores the areas in which the Commission is capable of exerting (regulatory) external power in the energy sector and assesses the Commission's actions with regards to the challenges facing the EU along the energy value chain: upstream, midstream and downstream.

A Liberal Actor in a Realist World assesses the changing nature of the global political economy of energy and the European Union's response, and the external dimension of the regulatory state. The book concludes that the EU's soft power has a hard edge, which is derived primarily from its regulatory power.

South Korea's phenomenal rise has been studied extensively by political scientists and economists both in terms of its impact on democratisation and as a role model for economic development. Yet little attention has been devoted to exploring the nexus between economic development and foreign policy. As a rising middle power, analysis of South Korea's foreign policy is crucial to our understanding of the power structure and future relations in East Asia.

Energy policy is on everyone's mind these days. The U.S. presidential campaign focused on energy independence and exploration ("Drill, baby, drill!"), climate change, alternative fuels, even nuclear energy. But there is a serious problem endemic to America's energy challenges. Policymakers tend to do just enough to satisfy political demands but not enough to solve the real problems, and they wait too long to act. The resulting policies are overly reactive, enacted once damage is already done, and they are too often incomplete, incoherent, and ineffectual. Given the gravity of current economic, geopolitical, and environmental concerns, this is more unacceptable than ever. This important volume details this problem, making clear the unfortunate results of such short-sighted thinking, and it proposes measures to overcome this counterproductive tendency.

"This chapter proposes to answer five fundamental questions: What exactly is the oil security problem, and how serious is it going forward? Why has it emerged at this point in time, and why has it been so difficult for the U.S. government to take the actions needed to mitigate it? Finally, what alternative policies are likely to be effective as the United States attempts to improve its oil security in the future?"

"This chapter expolres a number of related questions: How much time do we have to act? How much climate change is virtually inevitable? What are the consequences of procrastination? And finally, what is the appropriate role for governments wishing to act in time to reduce the threat of climate change? In addition, the reality of current emissions and policy responses is explored in some detail for the two biggest emitters in the world: the United States and China."

Over several years, some of the most distinguished Chinese and American scholars have engaged in a major research project, sponsored by the China- U.S. Exchange Foundation (USEF), to address the big bilateral and global issues the two countries face. Historically, the ascension of a great power has resulted in armed conflict. This group of scholars—experts in politics, economics, international security, and environmental studies—set out to establish consensus on potentially contentious issues and elaborate areas where the two nations can work together to achieve common goals. Featuring essays on global warming, trade relations, Taiwan, democratization, WMDs and bilateral humanitarian intervention, Power and Restraint finds that China and the United States can exist side by side and establish mutual understanding to better cope with the common challenges they face.

"The United States is the most developed and strongest nation in the world. China is the largest and fastest developing nation. In the multilateral effort to overcome these challenges, a good and productive relationship between the United States and China is essential. Indeed, no bilateral relationship among major powers today would be more crucial in shaping global order and agenda than the one between China and the United States."