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The German Ascendancy

In: Endgame for the Euro: A Critical History

Author

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  • Bill Lucarelli

    (University of Western Sydney)

Abstract

In the study of international political economy, the concept of “hegemony” has acquired a strategic meaning. Whether implicitly or explicitly, the term applies to one country or a group of nation-states, which form a dominant power bloc within a definite hierarchy of nation-states. In the “world system” literature this configuration is viewed as a zero-sum game between the dominant core, satellite and peripheral states (Wallerstein, 1979 & 2003). With the end of the Cold War, a multi-polar system of Japan, the European Community and the United States emerged as the dominant, core group of states. The recent ascendancy of China could also reinforce this multi-polarity of the world system. With the demise of the post-war system of Pax Americana this hegemonic transition might witness the emergence of trading blocs and exclusive currency zones gravitating around these hegemonic core regions.

Suggested Citation

  • Bill Lucarelli, 2013. "The German Ascendancy," Palgrave Macmillan Books, in: Endgame for the Euro: A Critical History, chapter 4, pages 52-69, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37190-4_5
    DOI: 10.1057/9781137371904_5
    as

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