How are China's ongoing sovereignty disputes in the East and South China Seas likely to evolve? Are relations across the Taiwan Strait poised to enter a new period of relaxation or tension? How are economic interdependence, domestic public opinion, and the deterrence role played by the US likely to affect China's relations with its counterparts in these disputes? Although territorial disputes have been the leading cause for interstate wars in the past, China has settled most of its land borders with its neighbours. Its maritime boundaries, however, have remained contentious. This book examines China's conduct in these maritime disputes in order to analyse Beijing's foreign policy intentions in general. Rather than studying Chinese motives in isolation, Steve Chan uses recent theoretical and empirical insights from international relations research to analyse China's management of its maritime disputes.
How are China's ongoing sovereignty disputes in the East and South China Seas likely to evolve? Are relations across the Taiwan Strait poised to enter a new period of relaxation or tension? How are economic interdependence, domestic public opinion, and the deterrence role played by the US likely to affect China's relations with its counterparts in these disputes? Although territorial disputes have been the leading cause for interstate wars in the past, China has settled most of its land borders with its neighbours. Its maritime boundaries, however, have remained contentious. This book examines China's conduct in these maritime disputes in order to analyse Beijing's foreign policy intentions in general. Rather than studying Chinese motives in isolation, Steve Chan uses recent theoretical and empirical insights from international relations research to analyse China's management of its maritime disputes.
Competition among central banks in a monetary union is thought to result in an over issue problem, which has its roots in the view that moneys produced by competitive central banks are perfect substitutes for each other. In the conventional set-up over issue can be overcome by granting a central bank exclusive rights to conduct monetary policy. In this book Mark Toma explores the workings of the early Federal Reserve System as a basis for challenging the conventional wisdom. He is able to show that competition among reserve banks in the 1920s did not result in an issue of Fed money. Rather the main effect of competitive structure was to cause reserve banks to make substantial interest payments to the private banking system in place of transfers to the US government. The book emphasizes the evolution of the Federal Reserve from a competitive to a monopolistic structure.
Competition among central banks in a monetary union is thought to result in an over issue problem, which has its roots in the view that moneys produced by competitive central banks are perfect substitutes for each other. In the conventional set-up over issue can be overcome by granting a central bank exclusive rights to conduct monetary policy. In this book Mark Toma explores the workings of the early Federal Reserve System as a basis for challenging the conventional wisdom. He is able to show that competition among reserve banks in the 1920s did not result in an issue of Fed money. Rather the main effect of competitive structure was to cause reserve banks to make substantial interest payments to the private banking system in place of transfers to the US government. The book emphasizes the evolution of the Federal Reserve from a competitive to a monopolistic structure.
