Cooperation or Hegemony Essay Example | Topics and Well Written Essays - 1250 words - 1

Cooperation or Hegemony - Essay Example The paper reviews how the present-day international trade functions. It points out that core of the international trade system lies in the trade policies towards protectionism or free trade of different states. The author shows that in contemporary times, the international trade system involves certain rules, which explicitly target reducing protectionism. In this way, the instability, which may occur because of the uncertainty and unpredictability of trade relations can be, minimized. The work examines if the United States has a complete hegemonic control and dominance over the international trade market, because it is a known fact that powerful states tend to have broader focus upon political power, aggregate national income, social stability, and economic growth, which in some way affect the working of the international trade system. It also attempts to see whether different countries have brought the trade system together. The author concludes that much of the international syste m, which is established today, focuses on the ideas of the United States, which included an anti-government and liberal approach to the area of the trade. The international trade system seeks to create such a situation, so that countries can benefit from trade on maximum. The writer analyzes historic events which prove that the United States had a major role in creating a beneficial trade system. The conclusion of the research is the United States has a hegemonic control, necessary for the stability of the international market.