International Political Economy - Assignment Example

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The May 3rd Guardian article entitled, “The world has nothing to fear from the US losing power” engages the reader with a current comparison of the United States ceding power to China and what this ultimately means for a previously uni-polar world. Although the article has…
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International Political Economy
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Download file to see previous pages uni-polar world shifting to a truly multi-polar world as advantageous for the economic outlook and levels of freedom that global citizens can come to expect.
However, the core assumption that is made is that a multi-polar world can indeed exist at all. The past several decades have noted a relatively quiet period of history in which two major powers co-existed peacefully; albeit with much animosity. Yet, one cannot interpret the lack of conflict between the Soviet Union and the United States as proof that a bi-polar or multi-polar world is inherently more peaceful and/or more equitable for the stakeholders involved. Interestingly, this is very much the assumption that the author in question has taken. The case of a rising Chinese economy points to the reality of a global super-power that is both economically and militarily superior to all others throughout the world. This is a unique situation; as the author notes, the Soviet Union only was able to project 25% parity with the United States at any point during its 70 year existence.
Culturally, the article presents a core strength of understanding the United States foreign policy through the lens of history and a shared belief in what Americans refer to as “American Exceptionalism”. Ultimately, the author points to the fact that even as the economic power of the United States begins to wane, at least as compared to China, it continues to hold on to a historical legacy that encourages it to engage with China and seek to contain it. Yet, as the author notes, even though this strategy of foreign policy worked against the Soviet Union, in the face of a declining economy of the United States and burgeoning levels of social welfare and entitlement programs, it is doubtful if the military will have adequate resources to engage the Chinese in an actionable and/or effective way (Weisbrot 1). Moreover, the reader can note a degree of foreign policy bankruptcy; in the fact that the United States response to an ...Download file to see next pagesRead More
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