Currency Warfare and Just War: The Ethics of Targeting Currencies in War

ABSTRACT

Is Currency Warfare defined as, the use of monetary or military force directed against an enemy’s monetary power as part of a military campaign, a just way to fight a war? This article explores the ethics of waging currency warfare against the Just War Tradition’s principles of jus in bello (just conduct in war) and its criteria of discrimination and proportionality. The central argument is that currency warfare is inherently indiscriminate but may be proportionate when policy makers consider the nature of the threat confronted and the targeted currency's level of internationalization, that is, to what degree it is used in foreign transactions or used as a foreign currency reserve. I evaluate this argument against historical cases during the Second World War (1939–1945), the Gulf War (1990–1991), subsequent operations against Saddam Hussein in the early 1990s, and the ongoing campaign against ISIS.     

"冷战"政策与朝鲜战争的爆发

第二次世界大战后,形成了以美国为首的帝国主义阵营和以苏联为首的社会主义阵营.为"遏制共产主义",美国不遗余力地推行"冷战"政策.朝鲜半岛是两大阵营在东方对立的主要阵地,朝鲜战争是两大阵营之间不可避免的大较量,也是"冷战"政策的必然产物.     

Muslims,Islamists, and the Cold War

A new devil has emerged to challenge Western values and public virtue, and ever so conveniently, the devil masqueraded in religious garb. Terrorism has become synonymous with Islamic fundamentalism if not with Islam itself, and a new iron wall has descended on the world, as Churchill said, separating East from West, Christendom from Islam. This study examines the question why US policy makers feel a persistent urge to draw foreign policy in moralistic terms and religious metaphor, often to their own detriment.     

The Escalation and De-escalation of Irregular War: Setting Out the Problem

Abstract

The introduction sets out the theme of the special issue. It introduces the topic of escalation by discussing the current state of the art in the literature and it outlines the set up of the remainder of the issue.     

The Kargil Conflict: Waging War in the Himalayas

In 1999 India and Pakistan engaged in a limited war in the Himalayan peaks of Kashmir. Pakistani irregulars occupied territory in the Indian-held district of Kargil. A campaign that lasted 74 days and cost each side more than 1,000 casualties concluded with India in control of the commanding heights around Kargil. The conflict exposed flaws in the Indian armed forces as well as enduring truths of combat in the high mountains. Political constraints combined with the unforgiving environment and a determined enemy to diminish India's military advantage. Transition from counterinsurgency to high-intensity combat in the Himalayas proved to be a daunting task. Early failure was only overcome through innovation and adaptation to the environment. Specialised forces, unconventional techniques and the focused application of overwhelming firepower ultimately secured victory.     

Risk,War, and the Dangers of Soldier Identity

The profession of arms is distinct from other professions for many reasons. One reason which is not so obvious is that, unlike members of other professions, soldiers may go their entire careers preparing for a day that never arrives. All things considered, we should think this to be a very good thing. For soldiers, however, this can feel somewhat odd, since there is a natural desire to want to feel useful and to see one’s role and purpose find realization. Accordingly, the common soldier is forced to adopt a rather paradoxical mindset, one of longing for peace, and therefore for uselessness, while at the same time longing to be useful, which would entail that there be a war. This latter desire to be useful and to vindicate one’s identity as a soldier can sometimes take on an unhealthy life of its own. The pull of wanting too strongly to live up to a warrior identity, I argue, can sometimes skew a soldier’s ability to assess risk rationally. This article will therefore investigate how a soldier’s concept of self influences his or her overall capacity to evaluate risk in war and when such influence might become morally problematic.     

Productive War: A Re-Conceptualisation of War

Conventional wisdom on the phenomenon of war is criticised for providing little relevant guidance to deal with the security challenges of our era. One reason is that this attitude uncritically assumes power as synonymous with force. In response, ‘productive war’ is here proposed as a re-conceptualisation of war based on Michel Foucault's alternative understanding of power. Productive war appreciates the role of violence but subordinates it to non-kinetic dynamics influencing the dimension of meaning in international security. This theoretical perspective provides a conceptual framework to deal with the dynamics of political mobilisation essential to create public support for nation-building abroad and for visions of world order.