European Integration: Progress, Prospects, and U.S. Interests
Michael Calingaert, who has a solid background in diplomacy and the private sector, in 1988 published a very useful book called The 1992 Challenge from Europe. This new volume is a sober, succinct, and thoughtful survey of the latest developments in European integration, of the post-Maastricht accomplishments, failures, and problems of the European Union, and of the EU's relations with the United States. The author is reasonably optimistic about the prospects for monetary union, lucid about the many cleavages between the EU's members, and convinced that "the pretense of a homogeneous union in which all member states, over time, follow the same policies and participate in the same programs" will have to be given up and that increasing institutional differentiation will occur. Skeptical about the American idea of a Transatlantic Free Trade Agreement, he prefers an "incremental process" in economic and political cooperation between the EU and the United States. For a rigorously objective and comprehensive analysis of the current state of the EU, readers should begin with this volume.
Related
America now faces the prospect of economic conflicts with both Europe and East Asia. The United States and the European Union have already fired the first shots of retaliatory sanctions over their ever-growing trade disputes. On the other side of the world, meanwhile, Asian countries are creating a bloc of their own that could include preferential trade arrangements and an Asian Monetary Fund. These developments could produce a tripolar world and hamper global economic integration. To avert this outcome, the United States must quell its domestic backlash against globalization and reassert its economic leadership in the world. The new Bush administration should make multilateral trade liberalization a top priority -- or it will face unpleasant economic and political consequences as the U.S. and foreign economies slow.
American commentators castigate their European allies as economic dinosaurs, hopelessly incoherent in their foreign policy and shamefully irresponsible in their duties to NATO. As Europe prepares to launch its single currency, U.S. critics have found yet another target. But smug assumptions of American supremacy are wildly overdone. Europe's economies are robust and their cooperation increasingly productive. Besides, America is not so hot either. Today's Eurobashing endangers the transatlantic relationship as much as European anti-Americanism once did. America should address its own inconsistencies in foreign policy while granting its European partners the respect they deserve.
Washington insider opinion is mirrored in John Newhouse's Europe Adrift, but that does not mean the book is an accurate reflection of the continent.

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