International Production and Governance Essay Example | Topics and Well Written Essays - 2500 words

International Production and Governance - Essay Example The impact of recession on the global market and effect of economic crisis are also described. Global imbalance occurs only when the country’s economy goes through a terrific downfall or there is a sudden change in the political system. The government is then reorganized to pacify the existing problems and to improve the situation so that the country can revive to its normal form. U.S Economic Policy United States is considered as the super power due to its economic and political stability. The economic stability helps the country to overcome any sort of downturn and economic downfall. As most of the countries today depend on United States, the commitment to maintain a stable economy is considerably more when compared to other countries. The economic crisis and recession hit United States so hard that the country struggled to get back to a stable state. The political changes also had a great impact on the country’s economy. US economy is more vulnerable to economic down turns since the country relies on several other countries. When compared to all the other problems, the 9/11 attack was considered to be the most deteriorating problem in the United States. Though the country had a reliable government and political parties, it was difficult for the country to recuperate to the normal situation. (Wade, 2009). The country’s economy went through a bad patch and the government officials implemented various strategies to bring back the country’s economy to a stable form. Political Hegemony The political hegemony was vulnerable right from the days of the Cold war. From then America has been one of the very few countries which had the ability to fight with any continent. This created a sense of fear among the other countries. Though the country’s government was filled with political leaders from several parties, the development in terms of politics was unbeatable. The political administration before the 9/1 attack was considered to be best strategies since the country established a cordial relationship with almost all the countries in the world. Due to this factor, America was the most sought after nation in the world. The economic and political stability contributed to the country’s success in each and every field. The political hegemony and the dictatorship continued even after the Cold War. Generally a country which is economically strong tries to dominate over the other dependent countries. Since US had the capacity to control the countries which relied on it; the government took an upper hand in controlling the other countries. Due to this factor, the political hegemony started to invade America. The political hegemony was clearly visible from the political reforms that came into existence after the Second World War. The role of US in the global economy went through a drastic change by the election of Obama. Till then, U.S was the country on which most of the other countries depended. International or ganizations and multinational corporations are the highest rated corporate in the world. A country can easily operate with the company that is in America or London. The advancement in the information technology has led to a situation where countries like America rely on other countries to accomplish their business activities. Bill Clinton and George.W.Bush were the major reason for the America’