Open AccessTransatlantische Beziehungen
Author(s) -
Ingo Schmidt
Publication year - 2003
Publication title -
prokla
Language(s) - English
Resource type - Journals
eISSN - 2700-0311
pISSN - 0342-8176
DOI - 10.32387/prokla.v33i133.650
Subject(s) - dominance (genetics) , boom , hegemony , us dollar , world economy , economics , rest (music) , liberian dollar , competition (biology) , position (finance) , political science , economy , market economy , political economy , international trade , monetary economics , exchange rate , finance , law , medicine , ecology , biochemistry , chemistry , cardiology , environmental engineering , politics , biology , engineering , gene
After World War II US-hegemony has been unchallenged in the capitalist part of the world. Therefore the US could afford to promote European integration. Meanwhile the economic foundations of the US' position have been weakened. First the superiority in terms of productivity got lost and after the New Economy boom there are also doubts about US-dominance on financial markets. This is the more so since the introduction of the Euro represents a major challenge for the Dollar. Nevertheless transatlantic competition on economic issues may not lead to a split as ruling classes in Europe and America share common interests against the rest of the world.