6IB006 Debating Globalization: US Hegemony, China Rivalry and Trade

This essay examines the impact of neo-liberalism on the development of US hegemony, focusing on its effects on free trade, the US economy, and international relations. It analyzes how neo-liberal policies have shaped US dominance by exploring free trade agreements, the impact on natural resources, and economic growth. The essay further investigates the growing rivalry between the US and China for global hegemony, particularly in the context of trade, including the use of tariffs and the protection of intellectual property rights. The analysis considers the strengths and weaknesses of both nations, their strategies for economic development, and their competition for influence in a multipolar world. The essay concludes by assessing the implications of this rivalry on the global economic landscape, and the challenges and opportunities for the US in maintaining its position as a global leader.

DABATING
GLOBALISATION
ESSAY
1

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
2

INTRODUCTION
Neo liberalism is contemporary which refers to market oriented reforms policies such as
“eliminating price controls, deregulating capital market, lowering amount of the trade barrier in
the nation. America and China are two of the most strongest economy. America has maintained
good amount of the hegemony at the global level. At the same time China has always tried to
become one of the strongest leader of the market and for the same reason they used to provide
good sort of the challenges to different strongest nation in the world. This report has highlighted
different theme in relationship to impact of Neo liberalism on becoming and maintaining US
hegemony. Neo liberalism impact on Free trade, Neo liberalism impact on Economy of US, Neo
liberalism impact on relationship with different nation are some of the example of theme which
are debated. After that the report has highlighted trade war between America and China on the
basis of different theme that is US vs China and America China relationship in context of trade.
MAIN BODY
Neo liberalism is contemporary which refers to market oriented reforms policies such as
“eliminating price controls, deregulating capital market, lowering amount of the trade barrier in
the nation. In simple words it can be said that there are many different liberty is given in the
nation to promote the good sort of trade in the nation. Promoting Neo liberalism in the nation
like US has brought variety of the impact on the Development of US hegemony.
Neo liberalism impact on Free trade and resources of the nation
Neo liberalism in the nation has helped the US in seeing that different corporation used
to continue accumulate the different wealth in the nation via exploring resourcing of the nation
very easily in the nation. This has contributed very positive toward the development of economy
in the nation. As with the help of the same in the organization, organization is able to see good
amount of free trade in the nation (Liu and Woo, 2018). For example It has seen that United
state has the agreement with more than 20 countries in current scenario. At the same time it has
been also notices that there are many different countries through out the world with whom the
Us has started negotiating bilateral and multilateral free trade agreement. This has eventually
helped the nation in becoming a global leader of free trade movement standing behind variety of
3

the groups such as General Agreement or tariffs and Trade. Neo liberalism in the nation has also
impacted the availability of natural resources in the negative way as it has been find out that
implementation of Neo liberalism in the nation has reduced amount of natural resources in the
nation. As it has been find out that almost all the nation which used to invest in US for the
purpose of the trade used to do by looking and considering the natural resources which are
present in the US. This has impact the availability of natural resources in the nation. This has
created a negative impact on the Development of US as a Hegemony. In past US has blessed
with a presence of six natural resources that is gold and silver to copper, nickel, iron, lead,
uranium, bauxite, mercury, tungsten and zinc. There are many different countries who used to
export the good amount of Uranium from United states due to different Neo Liberalism policy in
the nation. This has eventually reduced the amount of natural resources of the country and
created very negative impact on the economy of the country in the long run (Kim and
Margalit,2019).
Neo liberalism impact on Economy of US
Neo liberalism has helped the US in developing more secured economy of US as it has
been find out that there are many different opportunity which was opened due to implementation
of the same in US. Neo liberalism in the nation has helped the nation is seeing the good amount
of the companies who used to come in the nation and used to open up the variety of employment
opportunity in the nation, this has helped the nation in reducing the amount of poverty in the
nation (Chernomas, Hudson and Chernomas, 2018). This has eventually helped the nation in
also increasing the amount of the liberty in the nation. This has eventually helped the nation in
seeing very high level of the economic growth as almost all the individual in the nation used to
get good amount of the job in the nation. This has helped the company in investing the human
resource of the nation in a better way in the organization; this has eventually helped the nation in
becoming one of the leader at global level. As low level of unemployment used to help the
nation in saving the human resource of the nation in better way in the nation. Looking at the
overall impact of Neo Liberalism on US economy it has been identified that it has not able to
reduce the amount of income distribution in the nation. As it has been find out that providing
that sort of the liberty used to open up the variety of the opportunity for different class individual
in the nation. This eventually has widened up the gape between the rich and poor in the nation.
4

For Example, Individual in the nation who is high on the income always find it easy to convert
the different opportunity more easily in the organization as compare to the one who is not having
that high income background. This eventually used to create the gape between rich and poor in
the US. This has impacted the US economy in very negative way this has also impacted the
position of the US at global level.
It was also believed in the nation that free market approach in the nation will help the
company in improving the GDP of the company at the global level as good relationship will be
maintain by the US with the different nation organization and also it will help the nation in
seeing good amount of Multinational companies start operating in the US, this has impacted the
economy of the organization in very positive manner in the nation (Monbiot, 2016). At the same
time it has been also seen that local companies has seen the good amount of impact due to the
same in the nation, as number of competition was increased in the nation very adversely. As it
has been identified that more number of MNC were operating in the nation, this has also created
the variety of the impact for the nation to maintain a good amount of local currency in the
nation. As it has seen that organization generally used to take the money from the local market
and take it to the home nation. This has lower down the value of American currency in the
market, this has eventually created very adverse impact on the economy of the nation in the long
run. This has also impacted the US position in the Global market in context of development as a
market leader in the long run.
Neo liberalism impact on relationship with different nation
Neo Liberalism has also helped the US in building good relationship with different nation which
has helped the nation in building good position in the US market, as it has been identified that
Neo liberalisation in the nation has seen that number of trade transaction has been increased by
the US in current scenario, as it has been identified that in the recent past there are many
developing country who were not used to trade with the US in the past has also started trading
with them in current scenario, India and Sri Lanka are some of the example of the same as it has
been find out that there is good amount of trade which is being taken place with respectively
country in the past (Schmeichel, Sharma and Pittard, 2017). This has eventually helped the
country in building a good sort of the relationship with different nation in the past, this has
helped the country in emerging as one of the hegemony. Neo liberalism has also impacted
relationship with some of the country as well, as it has been find out that trading with different
5

nation has made some of the nation unhappy about the same in the nation. China is one of the
example of the same in the market, as it has been identified that relationship with one of the
strongest economist nation has eventually impacted position of the nation at global nation.
Reason behind the same is find out that trade between the countries like UK, AUS and china has
been reduced. This has eventually created the situation in the global market where position of
US has got impacted very adversely due to Neo liberalism in the nation.
When it comes on seeing the rivalry on the basis of global leader is between US and China. As
no doubtable these are two economies which are the strongest out of all the other economy in the
nation in current time. China is one of the emerging nation, they are the one who got the real
reorganization after Second World War. At the same time US is one of the strongest nation from
the starting. It has been find out that there is good sort of the rivalry in between both the nation
to become one of the global hegemony in the nation (Robertson, 2018).
US vs China
US vs China is always known as a competition between great powers but without the
Boundaries. Looking at the rivalry it has been analysed that these rivalry is very diverse and
groom in size. As it has been analysis that China always try to challenge American Hegemony in
the current scenario as it has been analysed that America is the leader in the current scenario.
Looking at the different efforts it has been analysed that China is succeeding in doing the same
as well but with not intensity in real but has able to get good sort of the position in the market.
China is generally taking help of different local reform to develop the economy which can show
the good image of the nation at the global, this has eventually helped me in challenging the
America to take the role of Global hegemony. At the same time America is the nation who is
trying very hard to cope up with the different challenges which is offered by China, for doing the
same in the nation is building good sort of the relationship with the different developing nation
and taking help of Noe liberalism approach in the nation to maintain the hegemony to overcome
the different challenges which is offered by many different nation in the market. America in the
past has also tried to develop the domestic market of the nation by increasing the level of the
privatisation in the nation this has eventually helped America in building the local infrastructure
to over come the variety of the challenges in the nation (Jaffee, 2019).
6

China always used to give the explanation of its national interest, they always try to
maintain a good sort of the peace at their boarder in order to pursue the continued dominance
and economic development at the global level. It generally helps them in the multi polar world
order, At the same time it has been identified that anyone whom is having good sort of the
experience usually used to find out that China is generally capable of both haughtiness as well as
petulance in the nation (Gledhill, 2018). China generally depends upon the human power as one
of the strongest resources to overcome the variety of the challenges and develop the economy.
China is the nation who is having the good amount of the Human manpower to carry out the
different operation very smoothly in the nation. At the same time America is generally more
expressive in terms of the attitude shown by them toward maintaining the hegemony at the
global level. America from the starting is very much aggressive in the talk as well as in the
decision. These has created a good sort of the fear in the another nation, as no one in general try
to break the relationship with US in current scenario this used to help the US in maintaining
hegemony. Looking at the main resources of the America it can be said that America is way
behind the China in having the human man power but on the same note availability of the
natural resources and also advance technology are the two aspect of US economy which
generally help the US in building good infrastructure in the nation to carry out different
operation that easily in the nation. America has been blessed with six different natural resources.
America China relationship in context of trade
Looking at relationship between America-China it has been analysed that relationship
between China and America is not that positive in current scenario. This is due to America who
has inflict variety of trade barrier and restricting amount of trade with China at the global level.
So it can be said that America is one nation who are not that keen to maintain a good sort of the
relationship with the China in the coming year. Us has highlighted that this unfair trade activity
in the nation are answer to increasing growing trade deficit also answer to increasing theft of
intellectual property. At the same time America is the only nation who has helped the China to
emerged as a strong nation in the past, as it has been analysed that United states-China relations
Act of 2000, China was allowed to join WTO in the year 2001 and was given a most favoured
nation on the bases of the same in the nation. On the same time China is the nations who always
look to maintain good relationship with US, As China has always tried to contact with US for
7

different trade in the past and in current scenario but America is not willing to show the same
response which was shown by them in the past (Murillo, Buckland and Val, 2017).
CONCLUSION
After going through the above debate it has been concluded that US is maintaining
hegemony at the global level with the help of good sort of economy of the nation. Neo liberalism
has played a very crucial role in doing the same in the nation. As it has been analysed that it has
helped US in building good sort of relationship with different nation at global level, also it has
help the nation in seeing that large number of the nation are willing to trade in the US. There are
many different type of drawback which are also brought by Neo Liberalism. After that report
conclude trade war between China and US.
8

REFERENCES
Books and Journals
Murillo, D., Buckland, H. and Val, E., 2017. When the sharing economy becomes neoliberalism
on steroids: Unravelling the controversies. Technological Forecasting and Social
Change. 125. pp.66-76.
Gledhill, J., 2018. Neoliberalism. The International Encyclopedia of Anthropology, pp.1-11.
Jaffee, D., 2019. Neoliberal urbanism as ‘Strategic Coupling’to global chains: Port infrastructure
and the role of economic impact studies. Environment and Planning C: Politics and
Space. 37(1). pp.119-136.
Robertson, M., 2018. Flexible nature: Governing with the environment in the development of
US Neoliberalism. Annals of the American Association of Geographers, 108(6),
pp.1601-1619.
Schmeichel, M., Sharma, A. and Pittard, E., 2017. Contours of neoliberalism in US empirical
educational research.Curriculum Inquiry. 47(2). pp.195-216.
Monbiot, G., 2016. Neoliberalism–the ideology at the root of all our problems. The
Guardian, 15(04).
Chernomas, R., Hudson, I. and Chernomas, G., 2018. Can Neoliberal Capitalism Affect Human
Evolution?. International Journal of Health Services. 48(1). pp.166-188.
Liu, T. and Woo, W. T., 2018. Understanding the US-China trade war. China Economic
Journal. 11(3). pp.319-340.
Kim, S. E. and Margalit, Y., 2019. Tariffs As Electoral Weapons: The Political Geography of
the US-China Trade War. Available at SSRN 3491228.
9

10