America's Global Advantage: US Hegemony and International Cooperation
For over sixty years the United States has been the largest economy and most powerful country in the world. However, there is growing speculation that this era of hegemony is under threat as it faces huge trade deficits, a weaker currency, and stretched military resources. America’s Global Advantage argues that, despite these difficulties, the US will maintain its privileged position. In this original and important contribution to a central subject in International Relations, Carla Norrlof challenges the prevailing wisdom that other states benefit more from US hegemony than the United States itself. By analyzing America’s structural advantages in trade, money, and security, and the ways in which these advantages reinforce one another, Norrlof shows how and why America benefits from being the dominant power in the world. Contrary to predictions of American decline, she argues that American hegemony will endure for the foreseeable future.
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America's Global Advantage: US Hegemony and International Cooperation
For over sixty years the United States has been the largest economy and most powerful country in the world. However, there is growing speculation that this era of hegemony is under threat as it faces huge trade deficits, a weaker currency, and stretched military resources. America’s Global Advantage argues that, despite these difficulties, the US will maintain its privileged position. In this original and important contribution to a central subject in International Relations, Carla Norrlof challenges the prevailing wisdom that other states benefit more from US hegemony than the United States itself. By analyzing America’s structural advantages in trade, money, and security, and the ways in which these advantages reinforce one another, Norrlof shows how and why America benefits from being the dominant power in the world. Contrary to predictions of American decline, she argues that American hegemony will endure for the foreseeable future.
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America's Global Advantage: US Hegemony and International Cooperation

America's Global Advantage: US Hegemony and International Cooperation

by Carla Norrlof
America's Global Advantage: US Hegemony and International Cooperation

America's Global Advantage: US Hegemony and International Cooperation

by Carla Norrlof

Paperback(New Edition)

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Overview

For over sixty years the United States has been the largest economy and most powerful country in the world. However, there is growing speculation that this era of hegemony is under threat as it faces huge trade deficits, a weaker currency, and stretched military resources. America’s Global Advantage argues that, despite these difficulties, the US will maintain its privileged position. In this original and important contribution to a central subject in International Relations, Carla Norrlof challenges the prevailing wisdom that other states benefit more from US hegemony than the United States itself. By analyzing America’s structural advantages in trade, money, and security, and the ways in which these advantages reinforce one another, Norrlof shows how and why America benefits from being the dominant power in the world. Contrary to predictions of American decline, she argues that American hegemony will endure for the foreseeable future.

Product Details

ISBN-13: 9780521749381
Publisher: Cambridge University Press
Publication date: 04/29/2010
Edition description: New Edition
Pages: 292
Product dimensions: 6.00(w) x 8.90(h) x 0.60(d)

About the Author

Carla Norrlof is an Associate Professor in the Department of Political Science at the University of Toronto.

Table of Contents

List of figures ix

List of tables x

Preface xi

Acknowledgments xiii

1 Introduction 1

The puzzle 4

The argument 5

Methodology and value added 6

Plan of the book 8

2 The forms and consequences of hegemonic leadership 11

The forms of hegemonic leadership 12

The consequences of American hegemony 15

The evolution of the United States' hegemonic position 17

Measuring disproportionality 22

Conclusion 29

3 Cooperation under hegemony 30

The emergence of international institutions and the neorealist challenge 31

Size matters 35

The public goods assumption 38

Revised size model 40

Systemic stability and hegemonic decline 49

Conclusion 54

4 International trade cooperation 57

Trade theories 57

What 'good' is free trade? 67

The significance of trade deficits 72

The reward of ongoing trade deficits 88

Buying power as a source of bargaining power 94

How the United States controls the global equilibrium through the trade regime 96

Bargaining rounds and ministerial meetings 103

Conclusion 113

5 Interactive effects between monetary and commercial power 115

How monetary privilege facilitates commercial expansion 116

How commercial strength reinforces monetary privilege 141

Conclusion 165

6 The security card 167

The security-dollar nexus 168

The asymmetry in risk premiums 171

Defense commitments and humanitarian interventions 184

Unilateralism vs. multilateralism, private vs. public goods 185

Conclusion 191

7 Credible threats and regional competition 192

Geographically coherent regionalism in East Asia 198

Euro Power 206

Conclusion 244

8 Conclusion 247

References 253

Index 271

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