Terrorism and the International Business Environment

Terrorism and the International Business Environment

The Security–Business Nexus

Edited by Gabriele G.S. Suder

This book was born from the editor’s conviction that a wide set of contributors should provide the economic and corporate sectors with guidelines, developed from rigorous research and case studies, to analyse those adjustments made necessary through international terrorism, as known since September 11th 2001. It argues that corporate asset protection and accurate business risk assessment is vital to the longevity, and resilience of business.

Chapter 3: Historical Forces in International Affairs and Commerce: Prospects for the International Economy

Yusaf H. Akbar

Subjects: business and management, international business, politics and public policy, international politics, terrorism and security

Extract

3. Historical forces in international affairs and commerce: prospects for the international economy Yusaf H. Akbar INTRODUCTION Is world trade and investment threatened by the need for enhanced security because of terrorism and the ‘War on Terror’? Will certain regions of the world economy be cut off from world economic activity because of their high risk? Can capitalist economies maintain their openness in the face of continuous threats to the economic infrastructure of the world trading system? Do new attempts to regulate the flow of international capital threaten the liquidity of the global financial system? This chapter examines the events of September 11, 2001 (09/11) in a broader historical perspective. The central theme of this chapter’s contribution is to examine the extent to which 09/11 was a new shift in the development of capitalism – the Huntingtonian-type ‘Clash of Civilisations’ – or whether the events can be explained by reference to existing experience. In doing so, the author attempts to examine the prospects for further intensification of economic relationships in the global economy. The principal vehicle through which these issues will be examined will be to offer an analysis of the development of world trade in the face of other historical ruptures such as major wars and global economic shocks. As a rule, historical experience suggests that major conflicts reduce the intensity of economic exchange, leading to breakdowns in the functioning of capitalist economies. Similarly, global economic shocks such as a pandemic or oil price shocks slow economic...

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