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ID: 104056

Geopolitical shifts, great power relations and Norway's foreign / Tunsjo, Oystein

Tunsjo, Oystein	Journal Article
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Publication

2011.

Summary/Abstract

This article examines how geopolitical shifts and the potential emergence of either a bipolar or multipolar system will affect the transatlantic relationship and a small state on the margins of power centres. A more Asia-centred world and a new polarity could drive a wedge into the transatlantic relationship. It is therefore explored how the US and the EU can develop hedging and risk management strategies that are complementary and take into account diverging capabilities, political structures, different threat perceptions of China and the effects of a potential new polarity. It is also noted that Norway will need a sophisticated foreign policy if it wants to approach the EU's position related to China, while simultaneously sustaining close relations with a US that is becoming more preoccupied with China and continues to shift more of its resources towards Asia. A hedging strategy can guide Norwegian policy-makers to meet such challenges.

Key Words

NATO ; European Union ; Geopolitics ; Great Powers ; Norway ; Risk Management ;
Transatlantic Relations ; Balancing ; Hedging

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ID: 095982

Hedging against oil dependency: new perspectives on China's energy security policy / Tunsjo, Oystein

Tunsjo, Oystein	Journal Article
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Publication

2010.

Summary/Abstract

Analysts debate if China will address its increasing reliance on overseas oil supplies and associated vulnerabilities through strategic steps that could lead to conflict or through accommodating market mechanisms. This article utilises on traditional 'market' and 'strategic' approaches, but adds to this analysis the concept of hedging, and links hedging to risk management. It is argued that such an alternative approach provides a better explanation and a more comprehensive understanding of China's energy security behaviour. By drawing on hedging and risk management, new perspectives on China's strategies to access energy resources in Sudan and Iran, and the importance of a Chinese state-owned tanker fleet in China's energy security policy are presented. Hedging strategies also incorporate more scope for limiting and managing risk than traditional strategies of diversification and a comprehensive approach that loosely mixes strategic and market approaches.

Key Words

Iran ; China ; Sudan ; Risk Management ; Energy Security Policy ; Oil Dependency ;
New Perspectives

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