Question

Discuss elaborately the US hegemony as an economic power .​

Answer 1

Global hegemony" might be defined as a situation in which one nation-state plays a predominant role in organizing, regulating, and stabilizing the world political economy

Answer 2

Answer:

Global hegemony" might be defined as a situation in which one nation-state plays a predominant role in organizing, regulating, and stabilizing the world political economy. The use of armed force has always been an inseparable part of hegemony, but military power depends upon the economic resources at the disposal of the state. It cannot be deployed to answer every threat to geopolitical and economic interests, and it raises the danger of imperial overreach, as was the case for Britain in South Africa (1899–1902) and the United States in Vietnam (1962–1975).

Britannia ruled the waves from 1815 to 1913, but by the 1890s she was under economic challenge from the United States and Germany, and between the two world wars was no longer able to function as underwriter to the world system. U.S. hegemony began during the Second World War and peaked some thirty years later. The United States still has immense—unequalled—power in international economics and politics, but even as the sole superpower it finds itself less able than it once was to influence and control the course of events abroad. Its military supremacy is no longer matched in the economic and political spheres, and is of dubious value in preserving the global economic order and the stake that U.S. capital has in it. Even during the golden days of 1944–1971 the United States was unable to avoid military defeat in Vietnam and a draw in Korea

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