Professor Chris Brummer Publishes Cutting Edge Book on 21st Century Economic Diplomacy

April 10, 2014 —

Georgetown University Law Center Professor Chris Brummer publishes cutting edge work on 21st century economic diplomacy in his new book, Minilateralism (Cambridge University Press). In the book, which moves from European trade and monetary relations to the G-20 and the internationalization of Chinese currency, Brummer explains how strategic alliances, informal agreements and financial engineering increasingly characterize a new generation of economic statecraft as power becomes more diffuse.

John C. Coffee Jr., Adolf A. Berle Professor of Law and Director of the Center on Corporate Governance at Columbia Law School, describes the book as "an eye-opening and elegantly written tour, as history and economics interact, new institutions evolve, and soft law seeks to hold the new networks together." He says, "As the era of American hegemony draws to a close and as the institutions that once dominated the multilateral era (the WTO, the World Bank and the IMF) find themselves constrained by a more complex environment, new institutions and smaller networks are developing, much as the first small, furry mammals quietly appeared at the end of the Age of Dinosaurs. Brummer incisively connects the dots between the financial, trade and monetary regulation, charting the growth of these new bodies." 

Anne-Marie Slaughter, President and CEO of New America, and the Bert G. Kerstetter ’66 University Professor of Politics and International Affairs at Princeton University says: "Brummer has brought several seemingly disparate trends in the global financial system together under the useful umbrella of minilateralism.  In doing so, his lively and engaging writing style gives life to the details of global governance and financial engineering. Most importantly, however, instead of just celebrating the new status quo, he identifies minilateralism as a response to globalization that when improperly managed can create as many problems as it solves."

Ethiopis Tafara, Vice President and General Counsel of the International Finance Corporation, World Bank Group, says: "Few books tackle so many topics so clearly and elegantly, and bundle them into one compelling narrative. Moving from the regulation of coins in medieval Europe to today’s international money supply and the rise of the Chinese  RMB, and from Venetian trade strategy to today's WTO, Minilateralism offers compelling history and theory of how economic diplomacy works. For standard-setters looking to understand their role in the global economy, a must read from a top expert in the field."

Brummer is an expert in international financial regulation. Prior to joining Georgetown Law¹s faculty in 2009, he was an assistant professor at Vanderbilt Law School. He has also taught at several leading universities as a visiting professor, including the universities of Basel, Heidelberg, and the London School of Economics.  Brummer lectures widely on finance and global governance, as well as on public and private international law, market microstructure and international trade. His work often appears in leading academic journals, news sites and forums. He has testified for U.S. and foreign governments to offer his perspective on international regulatory policy.

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