| June 2005
U.S. - European Union
F1 - The New Strategic Triangle: U.S. and European Reactions
to China's Rise Shambaugh, David
Washington Quarterly, Summer 2005, v28, #3, pp7-25
”Although they share similar views on many aspects of China's
place in the international community, the U.S. and Europe differ
over their perceptions of global order, China's rise, and the
resources devoted to analyzing China. Greater dialogue and coordination
among all three are overdue.” Shambaugh outlines transatlantic
convergences as well as divergences on China policy. David
Shambaugh, director of the China Policy Program at the George
Washington University, Foreign Policy Studies Program at the Brookings
Institution in Washington, D.C. Fulltext
F2 - What America Can Do For Europe
Baker, Gerard
The Weekly Standard, June 20, 2005, online version
The United States “has always had a vital national interest in
the direction Europe takes, and the events of the last month provide
an opportunity for much needed reflection in Washington about
the transatlantic relationship. Many of the countries of Europe
have been reliable allies over the last 50 years or more. A healthy
functioning relationship with this other pole of Western civilization,
with its similar values and objectives, remains important to the
United States. But it is time for Washington to reevaluate the
best way of bringing that about.” Baker recommends four steps
to be taken by the US to improve the transatlantic relations.
Fulltext
F3 - The United States and Europe: Current Issues
Archick, Kristin
The Library of Congress, Congressional Research Service, June
10, 2005, 6p.
”The United States and Europe share a long and intertwined history.
Despite the end of the Cold War, both sides of the Atlantic continue
to face a common set of international concerns, have few other
comparable partners, and share a huge economic relationship. Nevertheless,
numerous foreign policy and trade conflicts have seriously challenged
U.S.-European relations in recent years. This report examines
the current state of the transatlantic relationship and key issues
in Europe and beyond that have implications for U.S. interests.”
Kristin Archick, Specialist in European Affairs, Foreign Affairs,
Defense, and Trade Division. Fulltext
F4 - The European Union in 2005 and Beyond
Archick, Kristin
Library of Congress, Congressional Research Service, Updated
June 10, 2005.
The European Union (EU) experienced significant changes in 2004
as it enlarged
from 15 to 25 members and continued work on a new constitutional
treaty to institute internal reforms and further EU political
integration. In 2005, the EU is expected to build on these efforts
and seek to implement several recent foreign policy and defense
initiatives. This report describes the current status of the EU’s
constitutional treaty, EU enlargement, the EU’s evolving foreign
and defense policies, and possible implications for U.S.-EU relations.
Kristin Archick, Specialist in European Affairs, Foreign Affairs,
Defense, and Trade Division. Fulltext
F5 - The Dog That Has Not Barked
Gordon, Philip H.
E!Sharp, May-June 2005, 3p.
“President Bush’s recent visit to Europe was billed as heralding
a fresh start for transatlantic relations. But there is one area
where the tensions of recent years has had surprisingly little
impact on the relationship. … The reality is that despite the
real and deep transatlantic political crisis of the past several
years, the U.S.-Europe economic relationship has not faltered,
but flourished.” Philip H. Gordon is Director of the Center
on the United States and Europe at Brookings Institution. Fulltext
F6 - Is Business Losing Europe?
Crainer, Stuart and Des Dearlove
Across the Board, May/June 2005, online ed. 4p.
Annual trade between the United States and the European Union
amounts to about $380 billion. ”In the past, for Americans working
in Europe, politics was seen as separate from business; today
the two are inextricably linked.” Crainer and Dearlove outline
how sentiments manifest themselves. They summarize views and statements
from Americans working in Europe to answer the title question.
Fulltext
F7 - A Union of aCertain Age
Eberstadt, Nicholas
The Milken Institute Review, 2nd Quarter 2005, pp34-47
“Since the end of the cold war, it has been commonplace to remark
on the extraordinary concentration of power in the hands of a
single nation. For the time being, the wide gap between the power
of the United States and that of every potential competitor is
a basic reality of the international order. In Europe, this new
fact of life has been received with ambivalence. Indeed, America’s
unrivaled international primacy lies at the heart of much of the
recent friction in the old transatlantic alliance. Just how long
America’s “unipolar moment” will last is, naturally, a matter
of speculation… For those who envision an impending end to America’s
international preeminence, a principal candidate for restoring
multipolarity to the world system is a continent united under
the aegis of the European Union. Yet even those who talk of a
future European superpower point to stumbling blocks that could
complicate Europe’s ascendance – and among the most prominent
are the region’s demographic trends. Nicholas Eberstadt holds
the Henry Wendt chair in political economy at the American Enterprise
Institute. Fulltext
F8 - The Unipolar Concert: The North-South Divide Trumps
Transatlantic Differences
Ayoob, Mohammed and Zierler, Matthew
World Policy Journal, Spring 2005, v22, #1, pp31-43
The authors suggest that despite the tensions in the transatlantic
relationship caused by Iraq and the substantial changes to the
international system that have occurred since the end of the Cold
War, the relationship among the industrial, affluent, powerful
countries of the of the North basically has not been altered.
Mohammed Ayoob is University Distinguished Professor of International
Relations and Matthew Zierler is a visiting assistant professor
of international relation at James Madison College, Michigan State
University. Fulltext
F9 - The Euro and the World Economy
Bersten, Fred C.
IIE-paper presented at an ECB Colloquium, April 27 2005, pp1-8
”The creation and clear success of the euro over its first five
years dramatically and fundamentally alters the global currency
situation. The present Euroland is 20% smaller than the United
States in terms of total output and 18% higher in its share of
world trade. Expansion of the euro to include all 15 members of
the current European Union would take the numbers modestly (3%)
above the United States in output terms as well. Inclusion of
the 10 new EU members would add another 5% to Euroland’s output
superiority (as well as bringing its population to about two-thirds
greater than that of the United States). For all practical purposes,
the two currency areas are already close enough on all key variables
to be regarded as rough equivalents. It is thus clear that the
euro provides the first real competition for the dollar since
the latter’s ascent to global currency dominance. The key question
is whether (and when) the euro will realize its potential sufficiently
that a bipolar monetary system will replace the dollar hegemony
of the past century. C. Fred Bergsten is Director of the Institute
for International Economics. Fulltext
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