ULI459U-GLOBAL POLITICAL ECONOMY
Chapter 3: Emergence Development of the Global Economy
Industrial Revolution and the British Hegemonia
Conceptually, the Hegemony of the dominant class in society, the worldly and inclusive perspective in order to place it in a way a universal moral, political, and intellectual leadership refers to the interests and needs of the classes in the use of shape and need. Bourgeois class and 17.the feudal superstructure, which ended as a result of the centuries of British revolutions, created a harmony between financial, commercial, industrial interests and land interests.18.the Industrial Revolution, which took place in the last quarter of the century, caused Britain to reach its peak militarily and economically, leading it to world leadership. "One hundred years of peace" with British rule is a period that could continue with the European alliance. British industrial capitalists have created a “historical bloc” based on harmony between agricultural and industrial interests around the free market ideology, with the great economic power enjoyed by Britain thanks to Manchester liberalism and the support of flexible institutions. This important bloc gathered Britain's sovereign groups under the idea of British hegemony. The period during which British hegemony was most intense was between the year the grain Act was abolished in 1846 and the year in 1879 when Germany introduced a comprehensive protectionist tariff system. Britain, which rose to the status of monetary hegemon with the popularization of the gold standard, was 19th due to the impact of the Industrial Revolution. it began to decline in the second half of the century, and Britain's universal hegemony in the industrial sector went into decline.
The Hegemony of the USA After World War-II
The United States, which later chose to participate in World War II, became the most influential and powerful country in the world as a result of Japan's surrender after the atomic bombs it used against Japan. The economic crisis in the 1930s strengthened the idea of us hegomony with the great influence of military spending during the war. The collapse of the international financial system in 1931 and the period of decline that had occurred for some time raised the need for a new international economic system. The idea that it would be impossible to establish a new economic system without the cooperation of the United States was understood among developed countries. The new international economic structure created by the United States at the Bretton Woods meeting pioneered its establishment in 1949 as a military alliance to institutionalize NATO. NATO functioned as the US-led Western bloc's joint military pact as the Cold War dragged on. The United States exports weapons to NATO member countries to ensure peace in the world, and this supports the economic power of the US military force. 20th he began to take on a historical task, becoming more interested in global issues that were global hegemony in the century. This historical task evolved into a position taken against the Soviet Union, which emerged as a counter-ideology. The Cold War was called a new
systemic structure formed by two opposing blocs ruled by the United States and the Soviet Union after World War II, and the ideological rivalry that developed within that structure. Capital goods, loans, and market opportunities provided by the United States have been the economic reason for the acceptance of U.S. hegomony by developed states. After the 1970s, moderate rapprochement between the Eastern and Western blocs reduced military tension, and with it, the common consensus on economic rules disappeared. Reasons for the disappearance of this consensus; West Bretton-Woods system the collapse of European integration as an economic power (EU), the rise of new international political order substantially against the traditional economic model of production models is becoming the substitution of Japan's enormous economic and commercial performance. Besides these events; American companies do not feel obliged to invest in the United States, the economic and political dissolution of the USSR in the East, China softens its economic regime and opens the country's economy to Western investors, the Far Eastern countries have emerged as rivals to the sensitive industries of the West thanks to their significant progress in development and industrialization. The collapse of the Bretton Woods system in 1971 ended the classic era of US hegemony.
European Union
The European steel and Coal Community was formed by a Joint Union of the countries of Italy, France, Luxembourg, the Netherlands, Germany and Belgium. Later in the 1980s, Greece, Spain and Portugal became the new countries that joined this community. The Schengen Treaty, signed in 1985, allowed most community member states to pass customs without passport control. The former East Germany joined the community within the United Germany as a result of the fall of the Berlin Wall in 1990. The Copenhagen criteria were adopted by the joint resolution Union. In February 1992, the Maastricht Treaty came into force. The term European Union was first used with the adoption of the Maastricht Treaty in February 1992. Austria, Sweden and Finland became new members of the community in 1995. The 1997 Treaty of Amsterdam was signed with the aim of developing the issues of democracy and foreign policy that existed in the Maastricht Treaty. In 2002, the Euro was adopted as a common currency by twelve member states. In 2004, the European Union reached the largest number in its history with the official addition of ten new countries, almost all of them from the former Eastern Bloc countries. In 2007, Bulgaria and Romania became new members of the community, and the last participation in the community was the addition of Croatia in 2013. The members of the European Union are twenty-eight independent states. Member countries Germany, Austria, Great Britain, Belgium, Bulgaria, Czech Republic, Denmark, Estonia, Finland, France, Croatia, Netherlands, Ireland, Spain, Sweden, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Poland, Portugal, Romania, Slovakia,
Slovenia and Greece is counted. Countries waiting to join the European Union; Albania, Iceland, Macedonia, Montenegro, Serbia and Turkey are 6 countries. However, Iceland has suspended negotiations. The fact that the UK left the European Union in 2016 was briefly Brexit led to a crisis in the European Union, which brought to mind the question of whether the EU should break up.
The Rise of East Asia
With the 2000s, the political, economic and military hegemony of the United States entered a period in which it was gradually questioned and even balanced. The rise of East Asia has been one of the reasons for the changes in balance in international powers. The need for new areas and a greater scale of capital accumulation allowed capitalist development to shift from Europe to the Atlantic. A major economic structural transformation has been achieved through trade liberalization policies and outward expansion in East Asia under intensive state intervention. China has excluded the principles of Washington consensus in the areas of privatization, public spending, public entrepreneurship, the weight of the state in the economy and financial liberalization. In addition, he began to become the new hegemon in globalization on investment facilities and foreign trade issues. If South Korea's development strategies are divided into three periods, the first period is a protectionist period in response to imports and an export-promoting period between 1961 and 1972. The second period is the period in which the sector policy was followed by the heavy chemical industry program between 1973 and 1979. The last period is a period based on liberalization, which supports technological innovations and developments instead of a single sector after 1980. Development in Japan is discussed in two different periods. The first is the period between 1868 and 1912 when feudalism in Japan collapsed, called the Meiji Restoration. The second period is a process of rapid development in the country, despite the heavy result it experienced in the Second World War. Lifting martial law in Taiwan in 1987; it allowed the country to experience political democratization and liberalization of the economy along with the multiparty period. In the current situation, Taiwan is an important country with low borrowing rates, low unemployment rate, high education level and capable of high-tech production.