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- 저자 : ( Chih Mei Luo ) (검색결과 3 건)
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Unfolding the European Sovereign Debt Crisis
( Chih Mei Luo ),( Jyun Yi Lee ) 한국EU학회 2013 Asia-Pacific Journal of EU Studies Vol.11 No.2
The European sovereign debt crisis emerged from a few euro members being stuck with highdeficits and high-indebtedness, and thus is oversimplified to be referred to as the euro debt crisis. It, in fact, consists of several individual crises with different causes. The Greek crisis was a governance crisis that lacks of fiscal disciple by nature; the Irish and Spanish crises were the bubble crisis of the property sector and banking crisis caused by the US sub-prime crisis; the Italian and Portuguese crises involve more structural and long-term growth crisis. Accordingly, the austerity and the fiscal compact that Germany promoted can only offer partial answers to the end of the crisis. The implementation of fiscal discipline and the resolution of the crisis depend on the provision of economic growth and jobs as well as the establishment of a full-blown fiscal union. With the absence of expansionary fiscal policy and fiscal transfer at the EU level, this paper suggests that the crisis countries should be granted with the manoeuvre of expanding/contracting government spending according to the changes in growth and jobs. The crisis reveals five characteristics: the centrality of Franco-German axis; the specialty of the Greek case; national governments’ triumph over supranational institutions; the convergence of the EU’s economic governance with the German model; the need to address non-fiscal dimensions.
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Brexit and Its Implications for FTAs: The Cases of CETA and TTIP
( Chih-mei Luo ) 한국EU학회 2018 Asia-Pacific Journal of EU Studies Vol.16 No.1
This paper aims to identify whether and how Brexit has impacted free trade agreements (FTAs) through examination of how this issue emerged and developed first, and under what circumstances, the result of Brexit has delivered so as to clarify whether Brexit was an outcome in a UK-specific context or it involved more general and structural issues for worldwide FTAs. This paper follows to look into the cases of CETA and TTIP to observe how these two regional FTAs have been impacted by Brexit. This paper argues that the appearance and developments of Brexit was a national product of UK-specific politics. However, the characteristics of voting behaviours and divisions revealed in the referendum have more structural and general implications for worldwide FTAs. This paper found that Brexit has led to changes in the dynamics of the EU’s trade policy-making, both internally and externally, and resulted in difficulties of signing the CETA and negotiating TTIP. This paper, accordingly, warns that if the economic inequality and distributive injustice could not be effectively alleviated other than through approaches of trade defense instruments and protectionism that the EU and the US currently resorted to, then anti-free trade sentiments would be a ‘new normal’ in the world economy. Not only would significant FTAs become harder to envisage, but also existing ones would be under threat of being undermined. The world would risk repeating the history of reversing globalization in the early 20th century.
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( Chih-mei Luo ) 한국EU학회 2016 Asia-Pacific Journal of EU Studies Vol.14 No.1
The desirability of joining regional integration in an age of globalization is often measured in materialistic terms, and ideological issues such as values, believes and identities are either dismissed or ignored. This paper aims to argue that common values and believes are critical not only to intra- but also to inter-regional integration, by looking into the historical ex-periences of European integration. This paper distinguishes four different integrative models of EU members` participation in European integration from empirical evidences and ana-lyzes their implications for European integration and regional cooperation between the EU and Asia. It argues that, for European integration, a recall and reviving its commitment to common values and believes have become imperative especially at a time of crisis. For the EU-Asia cooperation, the task of searching for common values and believes should not be ignored any longer, especially after the negotiations on ASEAN-EU FTA collapsed. If the inertia of slow and stagnant developments of EU-Asia integration is meant to reverse, policy-makers must answer a key question first: what are the common values and believes between the two communities?
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