ARTICLE
The Monetary Issue and TTIP
in International Political Economy Perspective. Year 2015
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TTIP, polityka pieniężna i kursowa (PMK), techniczne bariery
wobec handlu (TBT), relacje dolar-euro
Publication date: 2015-06-30
Stosunki Międzynarodowe – International Relations 2015;51(2):167-187
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ABSTRACT
This article argues that monetary issues can be one of the major elements of TTIP.
An assessment of the problem from the angle of the theory of political realism shows
that next to limiting tariffs, contemporary trade agreements also address a number
of regulatory issues which functioning could be considerable impair by technical
barriers to trade (TBT). These barriers especially include instruments of exchange
rate policy. Hence, introducing monetary and exchange rate policy issues to the
treaty that is currently being negotiated could potentially decrease the risk that
contentious areas would emerge between the parties in this respect. The analysis
shows that skipping this issue in the treaty could hamper the expected process
of deepening transatlantic trade relations. Including it in the TTIP, at least in the
form of general provisions, could have an important impact on the significance
of the future position of the West in the global economic system.