Radhika Balakrishnan discusses the global economy, neglected campaign topics

Election 2012

The second presidential debate of the 2012 presidential campaign will take place on the Hofstra University campus Tuesday. The town hall will focus on domestic and foreign policy and be moderated by CNN's chief political correspondent Candy Crowley.

Both candidates head into Tuesday's showdown with deficiencies. President Obama is still smarting from what has been generally deemed a poor first debate performance in Denver. With the exception of his recent address at Virginia Military Institute, Governor Romney's campaign has focused on domestic issues.

As the candidates gear up to solidify their credibility as international statesmen, Radhika Balakrishnan, an economist and executive director of the Center for Women’s Global Leadership, discusses the blurring lines between domestic and international issues in an increasingly globalized world and highlights topics that may be overlooked during the 90-minute debate.

Rutgers Today: American voters tend to cast ballots according to domestic issues. A Washington Post-ABC News poll found that only 1 percent of American voters consider foreign policy the most important issue of the 2012 campaign. How much time should be spent on international affairs in an election that will likely be decided by domestic issues, particularly the economy?

Balakrishnan: The distinctions between domestic and foreign policy are increasingly blurred and need to be understood as such. Foreign policy is typically framed as the status of power dynamics among nations, regions, and cultures, but its true dimensions are much greater and more complicated.  For example, the root causes of the current economic crisis in the United States cannot be resolved in isolation. Global economic dynamics are critical in determining how people get jobs, what we sell, buy and how we live.  

Radhika Balakrishnan

Rutgers Today: You recently participated in the inaugural International Day of the Girl Child at the United Nations. The day highlighted gender inequalities that remain between girls and boys and addressed the various forms of discrimination and abuse suffered by girls around the globe. Which of the topics addressed at the U.N. would you find the most productive addition to Tuesday's debate?

Balakrishnan: As austerity spreads, women take on the burden of caring for the elderly and sick when health care is cut and teaching the young when education funding is cut. Both candidates need to articulate the impact of their proposed social and economic policies on women, particularly their stances on employment disparities. 

Rutgers Today: What kind of international coordination would help governments manage the growing economic insecurity?

Balakrishnan:  The private sector has proven itself incapable of self-regulation. We need international coordination to moderate the ability to move capital instantly across borders and seek tax havens. Many activists and economists have signed a petition in favor of an international financial transaction tax, which would generate resources for global public good, from fighting poverty to tackling climate change. 

Rutgers Today: It seems as though the American foreign policy conversation concentrates on the Middle East. What are some other areas of interest on the U.S. foreign affairs docket? 

Balakrishnan: The emergence of China, India and Brazil as economic powers on a global scale will most likely further diminish U.S. and European influence over the International Monetary Fund and the World Bank, which stabilize global currency markets and address poverty.  China, in particular, has demonstrated its willingness to leverage its economic power and position on the United Nations Security Council and affect the behavior of international institutions.