Western capitalist powers dividing up and redividing the world into exclusive economic zones. Today, it is argued, imperialism has acquired a new form as formal empires have been replaced by new mechanisms of multilateral control and surveillance, such as the G7 group of leading industrial powers (Canada, France, Germany, Italy, Japan, UK, USA) and the World Bank. As such, the present epoch is described by many Marxists not in the language of globalization, but instead as a new mode of finance capital within the world's major capitalist states (Petras and Veltmeyer 2001).
For many of a sceptical persuasion, geopolitics too is important. For the existing international order is constituted primarily by and through the actions of the major economic and militarily powerful states (and their agents). Accordingly, the internationalization of economic or political relations is argued to be contingent on the policies and preferences of the great powers of the day, since only they have sufficient military and economic muscle to create and maintain the conditions necessary for an open (liberal) international order (Waltz 1979). Without the exercise of American hegemony, so the argument suggests, the existing liberal world order, which underpins the recent intensification of international interdependence, cannot be sustained (Gilpin 1987). In this respect, globalization is understood as litter more than Americanization.
Western capitalist powers dividing up and redividing the world into exclusive economic zones. Today, it is argued, imperialism has acquired a new form as formal empires have been replaced by new mechanisms of multilateral control and surveillance, such as the G7 group of leading industrial powers (Canada, France, Germany, Italy, Japan, UK, USA) and the World Bank. As such, the present epoch is described by many Marxists not in the language of globalization, but instead as a new mode of finance capital within the world's major capitalist states (Petras and Veltmeyer 2001).For many of a sceptical persuasion, geopolitics too is important. For the existing international order is constituted primarily by and through the actions of the major economic and militarily powerful states (and their agents). Accordingly, the internationalization of economic or political relations is argued to be contingent on the policies and preferences of the great powers of the day, since only they have sufficient military and economic muscle to create and maintain the conditions necessary for an open (liberal) international order (Waltz 1979). Without the exercise of American hegemony, so the argument suggests, the existing liberal world order, which underpins the recent intensification of international interdependence, cannot be sustained (Gilpin 1987). In this respect, globalization is understood as litter more than Americanization.
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