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From Austria to New Zealand, coalition governments often pave the road to foreign policy. In Western Europe, nearly 90 percent of postwar governments include two or more political parties. Israel, the Middle East’s only consolidated democracy according to many, has never experienced single-party rule in its history. Even the United Kingdom, known for its long streak of single-party rule, now navigates multiparty cabinets. Coalitions are everywhere, but we still have little understanding of how they act in foreign affairs. History shows that coalitions can sometime engage in powerful international commitments such as participating in military operations, but at other times, they postpone their decisions, water down their policy positions, or promise to do less than they otherwise would. What explains these differences in behavior?

Governing Abroad unpacks the little-known world of coalition governments to find out. Oktay argues that the specific constellation of parties in government explains why some coalitions can make more assertive foreign policy decisions than others. Building on the rich literature in political science on coalitions, legislatures, and voting behavior, the book weaves together sophisticated statistical analyses of foreign policy events across thirty European countries alongside in-depth case studies from Denmark, the Netherlands, and Finland. It brings political parties back into the study of foreign policy, demonstrating that the size of the coalition, the ideological proximity of the governing parties, and their relationship with the parliamentary opposition together influence the government’s ability to act in the international arena. This book challenges our existing perceptions about the constraints and weaknesses of coalition governments. It sheds new light on the conditions that allow them to act decisively abroad.

A critical history of the US dollar’s dominance in the world economy—and what has kept China’s currency from overtaking it.

The dollar is the primary currency of the world economy. With China now rivaling the United States on the world stage, a critical question hangs in the balance: will the Chinese renminbi challenge the status of the dollar and, in doing so, deprive America of its “exorbitant privilege”?

In GreenbackEmpire, Ho-fung Hung offers a powerful account of why, even as American shares of global production, ownership, and trade continue to decline, its currency has retained the support of governments and investors around the world. For six decades, Hung shows, the dominance of the dollar has rested on the security umbrella that the US offers to the world’s wealthiest countries—including oil producers. To these countries, support for the value of the dollar is tantamount to maintaining US protection. While China has become a serious geopolitical and economic rival to the US, the Chinese state’s airtight control of its financial system has delayed the free trading of the renminbi, limiting the currency’s internationalization. In short, the same strategy that engineered growth in China’s economy is restraining its currency's rise in opposition to the dollar. Hung’s Greenback Empire is an essential history of the dollar’s prowess, indispensable for understanding the future of the global monetary system.