Global Finance and Collective Security

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Global Finance and Collective Security

The uncertainty surrounding the global economic turmoil is placing both states and alliances under significant stress to re-organize by streamlining costs and minimizing the impact of the crisis on publics, capabilities and future growth prospects. This paper is rather expansive in the ground it covers, and it is divided into several sections. In the beginning, there is a discussion of the importance of global finance and an overview of the current system, along with some of the existing measures and challenges to managing the level of risk. I use the China- America relationship as a real-world reference to the deep connections that already exist between finance and security, and as manifested into one of the fundamental relationships of the international system. The next major section presents the perspectives of securitization and complex interdependence theories in an attempt to call for the need of a synthesis that will allow for predicting and internalizing the risks that global finance poses to collective security; implications are drawn immediately after. The final important component of the paper presents a discussion of the normative and practical measures that existing security alliances need to adopt and emerging ones have to embrace, in order to stay viable and relevant; before I conclude, a consideration of potential reforms for NATO shows how such normative considerations might turn out in practice.


Citation: Ivanov G (2011) Global Finance and Collective Security. J Def Manag 1:101

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