Abstract
The economic policies of major powers are critical to world order. The experiences of the 1930s taught that international economic relations are not merely “low politics,” but have a profound impact on great power relations and international stability. In that dark decade, economic scarcity and conflicts led to political extremism and eventually war, as enemies in the marketplace became enemies on the battlefield. Fortunately, the prospects of great power war are remote in the current international system. Economic policies are nevertheless critical determinants of national and global prosperity, and have significant impact on the potential for great power cooperation as opposed to conflict.
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© 2015 G. John Ikenberry, Wang Jisi, and Zhu Feng
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Mastanduno, M. (2015). Still the Liberal Leader? Domestic Legacies, International Realities, and the Role of the United States in the World Economy. In: Ikenberry, G.J., Jisi, W., Feng, Z. (eds) America, China, and the Struggle for World Order. Asia Today. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137508317_8
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DOI: https://doi.org/10.1057/9781137508317_8
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