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Notes 13.1 - 13.2 Windham E. Loopesko INTB 3000 Fall 2013 University of Colorado – Denver November 11-15, 2013 1 Monetary system; human rights 11/11-15/2013 Week 13.1 – The world financial system Framework dates back to Bretton Woods Agreement (1944) – – 2 A bias towards a liberal economic order The US steps up as world leader The fixed exchange rate system ended in 1972, when US suspended dollar convertibility The controversial system remains largely intact Monetary system; human rights 11/11-15/2013 Week 13.1 – Mercantilism vs. liberalism 3 Mercantilism (economic nationalism) – government intervention to maintain a trade surplus (import restrictions, export promotion, stimulating domestic production) Liberalism (“laissez-faire”) – keeping governments out of economic decision-making, allowing a larger private sector role Mercantilism – China, Japan . . . Monetary system; human rights 11/11-15/2013 Week 13.1 – The weakening American hegemony 4 The US as hegemon – economically since WWII; politically as well since Cold War end Rise of Global South, euro crisis demonstrate weakening US role More frequent monetary crises with increasingly wide effect (leading to IMF rise) The free trade regime in question (the failure of the Doha Round) Monetary system; human rights 11/11-15/2013 Week 13.2 – Human rights background 5 Human rights – a new and rapidly evolving area of international relations Responsibility to protect (R2P)– outside intervention may occur if national authorities are unable or unwilling to safeguard their populations (all people have a right to certain basic protections as human beings What rights does R2P cover? Monetary system; human rights 11/11-15/2013 Week 13.2 – Communitarianism and cosmopolitanism 6 Communitarianism – leaders of sovereign states have moral obligations to those living within their borders – not humanity as a whole Cosmopolitanism emphasizes humanity as a whole, rather than national states; it holds that all individuals have rights by virtue of being human that no state can deny. Monetary system; human rights 11/11-15/2013 Week 13.2 – Human rights – groups protected Human rights protection matters for 3 groups: – – – 7 Women have less access to education, jobs with less prestige, less pay and barriers to advancement Indigenous peoples are members of ethnic groups native to a location now controlled by another state Refugees are individuals whose religion, ethnicity, political opinions or membership in a social group make them targets of persecution and force them to leave their homes Monetary system; human rights 11/11-15/2013 Week 13.2 – Current trends in human rights 8 Human rights are increasingly recognized Enforcement remains a problem Guidelines for halting abuses remain a problem Arguments for protecting human rights are difficult to separate from those advancing national interests Monetary system; human rights 11/11-15/2013