{"id":23730,"date":"2023-03-15T09:48:40","date_gmt":"2023-03-15T13:48:40","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?p=23730"},"modified":"2023-03-15T09:49:45","modified_gmt":"2023-03-15T13:49:45","slug":"regionalism-multilateralism-and-sovereign-debt-observations-from-a-latin-americanist","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/gdp\/2023\/03\/15\/regionalism-multilateralism-and-sovereign-debt-observations-from-a-latin-americanist\/","title":{"rendered":"Regionalism, Multilateralism and Sovereign Debt: Observations from a Latin Americanist"},"content":{"rendered":"
\"\"
Santiago, Chile. Photo by Caio Silva via Unsplash.<\/figcaption><\/figure>\n
\n

Does the existence of enduring multilateral cooperation within a geographic neighborhood\u2014that is, regionalism\u2014support or undercut global multilateralism?<\/p>\n

A new journal article<\/strong><\/em><\/a> from Leslie Elliott Armijo<\/a> in Global Perspectives <\/em>proposes a powerful mutuality of interests between global multilateralism and independent regionalism in the Global South, utilizing a case study of Latin America-focused policy entrepreneurship over several decades around the global financial governance of currency and sovereign debt.<\/p>\n

The more-or-less liberal international order established following the Second World War struggles to retain political and financial support from advanced industrial countries. Since the underlying source of this tension reflects a structural shift in the interstate distribution of power capabilities toward rising global multipolarity, the only viable medium-term solution for peak multilateralism is achieving greater legitimacy\u00a0among a wider field of countries. Greater\u00a0innovativeness\u00a0is a second benefit to central multilateralism of expanded regional access: important international policy challenges are not \u201cseen\u201d until those who experience them have sufficient voice.<\/p>\n

The counterpart challenge within the Global South is the frustration of policy entrepreneurs from small and intermediate powers. Most recognize the need for prior interest-aggregation to exercise influence in peak international organizations where great powers dominate. However, effective regionalism, a perennial and obvious choice for non-great powers, in practice has been difficult, especially in Latin America. In this context, Armijo argues, \u201cregionalism\u201d is best conceptualized as a mix of formal organizations and regionally-based transnational epistemic communities or activist networks.<\/p>\n

\nRead the Journal Article<\/a>\nRead the Blog<\/a>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Does the existence of enduring multilateral cooperation within a geographic neighborhood\u2014that is, regionalism\u2014support or undercut global multilateralism? A new journal article from Leslie Elliott Armijo in Global Perspectives proposes a powerful mutuality of interests between global multilateralism and independent regionalism in the Global South, utilizing a case study of Latin America-focused policy entrepreneurship over several […]<\/p>\n","protected":false},"author":19363,"featured_media":23731,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1149,156,77,1152,250,258,251],"tags":[3318,3437,151,973,884,3439,1237,690,401,3436,3433,1255,391,3434,3438,3431],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/23730"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/19363"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=23730"}],"version-history":[{"count":8,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/23730\/revisions"}],"predecessor-version":[{"id":23750,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/23730\/revisions\/23750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media\/23731"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=23730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/categories?post=23730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/tags?post=23730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}