Discusses and operationalizes theory of hegemonism in relation to emerging new economies and fragmentation of the world economy. Analyses development for UK, USA and China. Assesses conditions for the emergence of China as a new hegemon and concludes that China is not yet ready to pick up this role. Proposes a G2 of Chana and the EU that can engineer a more robust international governance that would allow for institutional contestation more flexible composition of the group of countries involved in global governance. Develops scenarios to assess possible developments of (de)globalization: ‘The end of the Liberal Peace’, ‘The deglobalization hoax’, ‘European hegemony’ and ‘The Return of Bretton Woods’. Provides lessons for ordinary people, businesses, social servants and researchers.
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