Question

Why unequal trade in international system and how hegemony domination promote unequal trade among the state

Answer 1

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International economic structures range from complete autarky to complete market openness. This structure has undergone numerous changes since the beginning of the nineteenth century. The state-power theory as put into perspective by Stephen Krasner (1976), explains that the structure of international trade is determined by the interests and power of states acting to maximize their aggregate national income, social stability, political power and economic growth. Such state interests can be achieved under free trade.

The relationship between these interests and the level of openness depends upon the economic power of states. Power is dependent upon a states size and level of economic development.