Cracks in the US empire: unilateralism, the 鈥榳ar on terror鈥� and the developing world
Abstract
In this article the author analyses the rise of the unilateralist imperial project of the George W. Bush administration in the United States and its implications for the developing world. He explains the motivation behind the 鈥榳ar on terror鈥� and the invasion of Iraq. Contrary to prevailing views, the author suggests that US hegemony rests on a fragile economic base. 皇冠体育app expanded European Union now represents an economy of the size of that of the US and it enjoys a healthy position in international trade, while the developing Asian region is also gaining ground. 皇冠体育app US has been able to engage in deep deficit spending to finance its 鈥榳ar on terror鈥� due to the US dollar's position as the international currency of deposit. However the Euro is now challenging the pre-eminence of the dollar. 皇冠体育appse factors combine to form the objective basis for a challenge to US unilateralism, but Asia's development gap and political division in Europe mean that the only possible challenge in the short-term to the prevailing imperialist posture of the US must come from inside the superpower.
Citation
Journal of International Development (2006) 18 (1) 69-85 [DOI: 10.1002/jid.1263]