Chapter

The Geopolitical Reshaping of the Post-War World Economy

Baldev Raj Nayar

in The Geopolitics of Globalization

Published in print December 2007 | ISBN: 9780195693034
Published online October 2012 | e-ISBN: 9780199081783 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195693034.003.0005

Series: Oxford India Paperbacks

The Geopolitical Reshaping of the Post-War World Economy

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The world economy is characterized by both the thrust towards globalization and the latter’s truncated nature, with most international economic transactions taking place around the ‘triad’ consisting of Japan, the United States, and the European Union. The author believes that there are strong linkages between changes in hegemony and international economic orders. This chapter argues that both the advance in globalization and its ‘triadisation’ are related to the geopolitics associated with the emergence of the American supremacy after World War II. After discussing how this hegemony has reshaped the world economic order, the chapter focuses on America’s relations with Britain, multilateralism, the New International Trading Order, the New International Financial Order, tough American conditionalities for post-war Britain, Geopolitical Challenges, and American internationalism. The chapter ends by a discussion of the economic and military containment of the Soviet Union by the USA during the Cold War (especially through the reconstruction of Europe and Japan through the Marshall Plan) and its impact on globalization.

Keywords: world economy; geopolitics; globalization; world economic order; US hegemony; multilateralism; international trade; economic containment; triadisation; the Cold War; the Marshall Plan

Chapter.  10301 words. 

Subjects: Political Economy

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