World Hegemony: Who Is to Win Ultimately?
The phenomenon which has always been the centre of attention and the concern of powerful states or entities from distant times to recent times is the exercising of power and keeping up with their hegemonic nature through their economic, military or political aggression. The world of terror and the age of economic colonialism has changed its form from its previous version of direct state mechanism infiltration. As we saw British rule in Indian sub-continent through its agent of ruling mechanism. Neo-colonialism is at its peak through its implicit yet biting means. This equation of neo colonialism has brought the current king, USA, of world politics to the fight against the rising throne ascending king of China. USA is set in no way to lose its global mark which it had under its palm after the end of second world war. On the other hand China after having displaced japan from the second position in 2011 as economic power and growing as a force economically, militarily and politically is emerging as a potential threat for USA in the power grab game of the world politics. The recent rounds of tariff slapping-removing causing trade war between the two giants on economic, military and political fronts are a stark sign of where the world politics goes. America needs to be at the centre of economic and political power to manipulate the world in its favour. Ranging from casting out of Iran from the economic world forcing the Country to the point of it being kind of bound to bend apparently not bending though to continue to maximize its hold in Middle-East to superficial intervention in Venezuela and forceful appearance in the south china are among the major blatant efforts of USA to dominate and shape the political arena of the world. But the world is no longer going to remain subject to the whim of USA. Now In every step of the way China stands to be the threat against hegemonic nature holding USA. To stem this developing and power grabbing tide of china America is seen to resort to different measures ranging from tariff slapping, imposing of ban Against Huawei and heavy naval deployment in south china sea. But China apparently will stop at nothing from taking every step at a time to further its prosperity-oriented stride. Chinese causing huge splash carries us back to the quote of Napoleon Bonaparte “China is a sleeping lion. Let her sleep, for when she wakes she will shake the world.” The threat that the USA along with its western allies is feeling from Chinese forward-faced march is its growing dominance on economic and political fronts. This threat feeling from china by USA led to this enmity manifesting itself through retaliation and counter-retaliation against each other taking the fight nowhere other than hurting the global economic demand-supply chain. A foreign policy steered and seen from a business perspective of Donald Trump has brought the world’s economic and political pattern into total disarray trying to make good his electoral promises and check the rise of china. China is now a capable nation in almost all fronts of strong economy, technology and military which combine together to give the Asian giant an edge in politics. The BRI is also seen as the gateway to an era where china will be in the driving seat of world hegemony sweeping America aside. For all the setbacks set by USA China is tipped to surpass USA in becoming the world’s largest economy shortly. When the going gets tough the tough get going is the truth. The trade war and the battle for hegemony don’t make China the lone shock receiver they bring hazards for the USA too. Because Both economies are showing signs of weakness in recent weeks but China’s appears to be slowing at a faster pace. China reported that industrial output, retail sales and investment all slowed in April by more than economists forecast. In the U.S., along with weaker retail sales, factory production fell for the third time in four months. If tariffs begin to hit growth, Xi has more fiscal and monetary firepower to stoke demand than Trump. High corporate debt is tipping the balance in China toward greater use of fiscal policy, away from the old reliance on ramping bank loans to industrial firms. Trump doesn’t have that kind of fiscal firepower. No one wins in a fight of economic growth. Both are feeling the shock of this fight. USA is ahead in some ways whilst china has got some edges in other fronts. Everyone has to pay some price. In terms of geopolitical rivalry, what matters is who loses more,” Bloomberg chief economist Tom Orlik said. “The U.S. is betting that will be China. China is betting the U.S. won’t have the stomach for the fight.”
Public administration: DHAKA University