History and hegemony

The United States and twenty-first century globalization

Authored by: Jan Nederveen Pieterse

The Routledge International Handbook of Globalization Studies

Print publication date:  December  2015
Online publication date:  December  2015

Print ISBN: 9780415718813
eBook ISBN: 9781315867847
Adobe ISBN: 9781317964919

10.4324/9781315867847.ch7

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Abstract

The twenty-first century global landscape is that of a multipolar, multi-currency world. The United States, Europe, and Japan rode the previous wave of globalization during 1980–2000, but their lead in manufacturing, trade, finance, and international politics has been slipping. This shift is largest for the United States, the erstwhile hegemon and driver of the world economy. All advanced countries have become post-industrial economies that face increasing competition in the maelstrom of accelerated globalization, but only in the American case has this been combined with a mammoth trade deficit and foreign debt.

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