Europe and Japan into the 21st Century

William R. Nester
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William R. Nester: St. John’s University of New York

Chapter 7 in European Power and The Japanese Challenge, 1993, pp 255-258 from Palgrave Macmillan

Abstract: Abstract It was no coincidence that the Commission chose the five hundredth anniversary of Columbus’ landing in the Western hemisphere as the year for European unification.1 For almost five hundred years, the world experienced an ‘Age of Europe’ in which the ‘great powers’ at one time or another either directly colonized or indirectly influenced virtually every region around the world. European hegemony finally collapsed with the devastation of World War Two. The ‘Age of America’ (or the ‘American century’ as some optimistically called it) took off in 1945 and lasted little more than a quarter-century. By the 1980s, the costs of rebuilding and serving the global political economy and containing communism had left the United States the world’s greatest debtor nation.

Keywords: Global Political Economy; Windfall Profit; European Free Trade Association; Current Growth Rate; Japanese Rival (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12995-9_7

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DOI: 10.1007/978-1-349-12995-9_7

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