Whether Economic Globalization Comes to an End or Not: an Analysis From the Perspective of Hegemonic Stability Theory

Abstract

At present, the world has entered a new period of turbulence and change, and the trend of anti-economic globalization makes the development of economic globalization face difficulties. Faced with great challenges and threats, whether economic globalization has come to an end has become an important issue. Analyzing from the theory of hegemonic stability, the declining hegemonic countries cannot provide enough international public goods to promote economic globalization, while the rising emerging countries have become an important driving force of economic globalization. Guided by the theory of hegemonic stability, this paper analyzes the current situation of economic globalization, and reveals the essence of economic globalization moving forward in a tortuous situation. In order to promote the steady development of economic globalization, in the absence of the United States, emerging countries such as China must actively promote economic globalization.