American Hegemony and the Rise of Emerging Powers

Abstract

From the vantage point of the greatest Wall Street crash since 1929, the ensuing 2008-2009 global financial crisis, the Great Recession, the Eurozone crisis, contrasted with the continued rapid economic growth of many emerging markets, most of all China, coupled with their growing confidence in global governance -Henry Luce's (1941) vision of an "American century" appears to be crumbling into dust. Many commentators assert that the 2017 inauguration of President Donald Trump may signify the final nail in the coffin of the liberal international economic order. This chapter, however, argues something very different. Instead of its

The Hegemony’s Contest in the South China Sea

“…Nevertheless, some scholars still believe that the United States' power centrality in the modern global order is unmatchable (Bremmer, 2015;Hung, 2015;Parisot, 2013). This viewpoint suggests that the United States remains the contemporary global capitalism manager since its economy is increasingly powerful, supported by the dollar and Wall Street (Regilme & Parisot, 2017). At this point, China remains deeply incorporated within the U.S. economy and lacks the capability to offer an alternative leadership.…”

“…Other scholars have different opinions regarding power transition. For instance, Regilme and Parisot (2017) argue that China cannot achieve a global hegemony status because it lacks a global ideology to counter the United States’ self-proclaimed exceptionalism and control and mediation of global affairs to achieve the greater good. As the U.S. economy struggles to gain ground and its capability to shape international politics declines, the world might be moving toward a multipolar system (Regilme & Parisot, 2017).…”

“…For instance, Regilme and Parisot (2017) argue that China cannot achieve a global hegemony status because it lacks a global ideology to counter the United States’ self-proclaimed exceptionalism and control and mediation of global affairs to achieve the greater good. As the U.S. economy struggles to gain ground and its capability to shape international politics declines, the world might be moving toward a multipolar system (Regilme & Parisot, 2017). Latin American nations are increasingly exercising new autonomy thanks to the Monroe Doctrine, while other nations like Brazil, Russia, South Africa, and China are establishing transnational links to circumvent the U.S. leadership.…”

“…Also, the U.S. military is still the most powerful and robust in terms of economic spending and technology. Therefore, while China is relatively more powerful than in the past, the United States is still positioned as the global leader in the foreseeable future (Regilme & Parisot, 2017). In the case of the SCS, while military interventions reveal China’s assertiveness, Beijing’s interests are deeply interwoven with those of the United States; it is unlikely that China will not go to war to oust the United States, but will rather try and protect its borders from other adversaries.…”

Beyond Paradigms

“…One of the greatest puzzles in the academic study and contemporary practice of international politics is whether the rise of China, as an emerging global power, would be peaceful amidst the expectation of a declining US-led global governance (Christensen, 2006;Mearsheimer, 2006;Monteiro, 2014, pp. 122-126;Regilme & Hartmann, 2018;Regilme & Parisot 2017a;Starrs, 2013). Considered as the 'most important rising power' (Hameiri & Jones, 2015, p. 3), China and its increasing influence in world politics will 'undoubtedly be one of the great dramas of the twenty-first century' (Ikenberry, 2008, p. 23).…”