Bradford on the power and influence on the European Union. Its a subject of her book the brussels effect. Good evening, everyone. Thank you so much for being with us. I am David Schizer one of the codirectors of the Richmond Center and i i also served of Columbia Law School from 20,422,014 which i mentor for a very particular reason, i was the dean when professor anu bradford joined our faculty and its one of my brightest moments to persuade her to do that. Im on a stick kickoff a fascinating discussion about the influence of europe on the global marketplace. Last year, the wall street journal called the decline w of europe as a remote consequential shift of the last hundred years. There is some truth in that t since world war ii, the military influence in europe declined and also true that europes Economic Growth has not compared favorably with that of the United States or with china or india. And of course efforts to maintain an Economic Union so europe has been more complicated late
Proud moments when we persuaded her to do that. So im honored to kick off what i know will be a fascinating discussion about the influence oof the influence ofeurope on tl marketplace. Last year the wall street journal called the decline of europe a force in World Affairs the most consequential shift of the last 100 years and there is some truth in that since world war ii military influence of europe is certainly declined, and its also true the Economic Growth has been compared favorably with that of the United States or for example with china or india. And of course efforts to maintain an Economic Union have been more complicated greatly as we all know. But still, i think professor bradford sees things a little differently and in her book the brussels effect of the European Union rules the world which is here and also back there and you must have a copy, professor bradford argues that it remains a critically important economic superpower and makes the case very persuasively that conti
Marketplace. Last year the wall street journal called the decline of europe as a force in World Affairs the mostn consequential shift of the last 100 years but there is some truth in that, since world war ii the military influence of europe has certainly declined. It is also true that europeans, growth has not compared favorably with that of the United States or for example, with china or india. Of course, efforts to maintain an Economic Union within europe have been more, gated lately but professor bradford sees things divinely and in her new bookro e brussels effect the European Union rules the world is here and back there and you must have a copy. Professor bradford argues that the eu remains a critically important economic superpower. She makes the case very persuasively. He continues to wield a unilateral power in regulating their market and that is a phenomenon that they call the brussels effect. What does it mean . Many, many examples, eu shapes policies in areas for data privac
Mentioned that in the last episode and he was so prescient about this pandemic situation when he predicted sort of a pandemic basically that negative rates were signaling that he predicted that last june or july he says i think we have just witnessed the end of the petrodollar system non us countries will soon see a new unit of account medium of exchange and store of value a new Bretton Woods that will not be decided in america or by americans right well all the key players necessary for that are involved right now saudi arabia russia states so the petro dollar of course was established in the early 1907 days with america and saudi arabia when america defaulted on its sovereign debt remember Richard Nixon defaulted on the dollar default on the treasury market and we went on the petro Dollar Standard because america had to close the gold window could no longer fulfill its obligations to. Its creditors this was the beginning of the petrodollar era and the beginning of all things everywhe
System non us countries will soon see a new unit of account medium of exchange and store of value a new Bretton Woods that will not be decided in america or by americans right well all the key players necessary for that are involved right now saudi arabia russia states so the petro dollar of course was established in the early 1907 days with america and saudi arabia when america defaulted on its sovereign debt remember Richard Nixon defaulted on the dollar default on the treasury market and we went on the petro Dollar Standard because america had to close the gold window could no longer fulfill its obligations to its creditors this was the beginning of the petrodollar era and the beginning of all things everywhere are being priced in dollars oil is being priced in dollars all commodities are priced in dollars i gave america the us empire of debt it gave america the World Reserve currency it gave america one. Called seniority which which is basically they get a cut over every transactio