Suchergebnisse

Foreign investment fund in the world has multiplied several times in the last twodecades. However, growing trend of foreign investments fl ow has been broken by the recentfi nancial crisis in the world. Lower infl ow of foreign investments into the developingcountries has made the funding of their current accounts diffi cult, because it becamemore diffi cult for them to get loans in the international capital market. Most net importersof capital are net debtors in the international capital market, which made them increaseinvestment attractiveness for international investors. Thus they tried to decrease theirexposure to the loan market. Although foreign investments are desirable source of fundingthe current account defi cit, net infl ow of these funds generates negative balance in theincome account and puts pressure on the balance of payments of the country. World investmentfl ows have returned to the upward trend in 2013.This paper analyses foreign investments fl ow in the world, by groups of countries.The groups of countries, the subject analysis of this paper, are: Asia, Latin America,Africa, countries in transition and developed countries. The most signifi cant countriesthat are net exporters of capital in the world are the European Union and USA, while thebiggest importers are the growing Asian countries. Starting period for this analysis is1990, and ending period is 2013. Therefore, time series of the analysis covers economiccycles, i.e. rise from the nineties of the last century, then the period of global fi nancial andeconomical crisis that lasted all the ay until the end of 2012.

For the last few years, the German foreign policy has been under constant temptations and substantial reconsideration. The key role in resolving the difficult economic and financial crises in the EU, the development of close economic ties with the Russian and other rising world economic powers, the decision to sustain in the UN Security Council in deciding to authorise the use of force in Libya, as well as the dominant attitude towards the crises in Greece and Kosovo clearly shows the wish of Germany to pursue a more independent foreign policy. In spite of all these efforts and its huge economic power, Germany has failed to become a global political power. Moreover, in order to protect and develop its trade interests Germany must remain within the frameworks of the EU and the NATO. For a long time, Germany has been one of Serbia's most important economic and political partners. Since it is realistic to expect that Germany will be more oriented towards developing its economic ties with the new world economic powers, the Western Balkans and Serbia will not be in the focus of its foreign and economic policies. Therefore, for Serbia, it will be useful to concentrate on the cooperation with the mighty German provinces that have their interests in developing this cooperation. In the future, the Kosovo issues will remain the main obstacle to it.

The paper analyzes military capabilities of the European Union, as an important element of the credibility of the EU Common Security and Defense Policy (CSDP). It discusses the development of these capabilities, and main problems that go along with the operationalization of these capabilities, as well as the prospects of their further development. Is the intergovernmental approach to the area of the EU security and defense policy a barrier to the development of EU military capabilities? What is the extent of the harmonization between 'military' competences of the EU and national specificities? The paper aims to provide answers to these questions. The first section analyzes the institutionalization of the EU security and defense policy, which includes both the establishment of special political and military structures responsible for the decision-making process within the framework of this policy, and the adoption of specific goals for the development of EU military capabilities. The second section analyzes the main difficulties met in the operationalization of EU military capabilities, concerning the efficiency of decision-making procedures, lack of strategic capabilities, the discord of national reforms regarding the modernization of the armed forces, and duplication of national programs covering the military equipment. The third section discusses the prospects of the development of EU military capabilities in the light of EU member states' military budget cuts. It concludes that the gradual evolution of the EU security and defense policy can be seen as an incentive for coordinating the efforts of the member states in the development of EU military capabilities.

Today's world is shaped by the processes of globalization and economic liberalization, which dominantly determine the social, economic, environmental and political conditions. As part of these processes, there is an increasing rhetoric about the activities of the state to build a legal system 'ideal for attracting' foreign investment, to establish state institutions in charge of 'attracting foreign investment', and to create a business environment conducive to 'attract' foreign investment. Faced with citizen requests and pressure to create conditions for employment, in initial negotiations with foreign investors state, authorities articulate their willingness to meet these requests. The affirmative stance of governments towards the investments of multinational companies easily can be changed. Once the investment begins, the pledges made by one contracting party to the other may prove to be unrealistic and economically unjustified. The tensions generated between the host state and foreign investors jeopardize the foreign investment contract concluded by the contracting parties. Further fulfillment of contractual obligations from foreign investment contracts will be possible if the contracting parties resolve the resulting conflict through mutual negotiations. Through negotiations, the contracting parties can depreciate the impact of the changed circumstances, including a range of economic, political, legislative and environmental conditions. Initiating negotiations at the right time and conducting them in good faith may lead to a solution. Even if an agreement is not reached, the renegotiation may contribute to a better understanding of contractual partners and redefining the positions of the contracting parties.

Autor se bavi odnosima Sjedinjenih Država i Venezuele zaključno sa aktuelnom‎ predsedničkom krizom ne bi li odgovorio na pitanje kako i zašto je Venezuela‎ postala problem za spoljnu politiku SAD koji zahteva pojačanu pažnju‎ i radikalne mere. Analiza ovih odnosa u toku 20. veka pokazuje da su oni zasnovani‎ na naftnoj međuzavisnosti dveju država. Kada je krajem veka višedecenijsko‎ loše upravljanje naftnim bogatstvom u Venezueli izazvalo društvenu‎ i ekonomsku krizu koja je dovela na vlast Huga Cháveza, spremnog da koristi‎ prihode od nafte protiv interesa regionalne hegemonije SAD, ove su Venezuelu‎ označile kao problem. Američki establišment je prema tom problemu nastupio‎ oportunistički – naftna međuzavisnost je sprečavala da sukob eskalira‎ sve dok aktuelna ekonomsko-politička kriza u Venezueli nakon Chávezove‎ smrti nije dala Washingtonu priliku za konačni obračun sa režimom, po cenu‎ privremenog prekida u trgovini naftom. Godinu i po dana od izbijanja predsednička‎ kriza u Venezueli još nije razrešena, jer se čavistički režim održao, a‎ SAD odustale od vojne intervencije, pa autor nastoji da ukaže na perspektive‎ problema i mogućnosti njegovog prevazilaženja nakon što tekuća pandemija‎ korona virusa bude obuzdana.‎ ; The author deals with the United States and Venezuela relations up to the‎ current presidential crisis, in order to answer how and why Venezuela became‎ a problem for U.S. foreign policy which requires increased attention‎ and radical measures. The analysis of these relations during the 20th century‎ shows that they were based on oil interdependence of the two states.‎ When a decades-long mismanagement of oil riches in Venezuela at the end‎ of the century caused a social and economic crisis that brought to power‎ Hugo Chávez, who was ready to use oil revenues against U.S. regional hegemonic‎ interests, it marked Venezuela as a problem. American establishment‎ treated the problem with opportunism – oil interdependence prevented‎ the conflict from escalating until the current economic and political crisis in‎ Venezuela after the death of Chávez gave Washington an opportunity for the‎ final clash with the regime at the price of a temporary break in the oil trade.‎ A year and a half after the presidential crisis in Venezuela erupted, it has not‎ been resolved yet, for the chavista regime remained in place, while the U.S. gave up on military intervention. The author points to the perspectives of the‎ problem and the possibilities of its overcoming once the current coronavirus‎ pandemic gets contained.‎

Harmonisation of the foreign policies of the Western Balkan states with the EU Common Foreign and Security Policy (CFSP) within the Charter 31 of the pre-accession negotiations will be a significant obligation and challenge for most of them. Within this context, the author takes as a starting point the regular annual reports on the progress achieved by the states in the region. They show the degree of harmonisation of their foreign policies with this Union's mechanism (within four years in the 2011-2014 period). The author of the article particularly points to the real and substantial discrepancy between the normative framework of the EU CFSP and the specific activities taken by the Western Balkan states in the part concerning their position to the current crisis in Ukraine which, in a way, 'reflects' the geo-strategic interests of the 'West', on one hand, and those of the Russian Federation, on the other. At the same time, he points to the membership in the North Atlantic Alliance as a favourable framework for the acceleration of harmonisation of a country's foreign policy with the EU CFSP.