Is symmetry a controllable factor for parties to economic interdependence

1. Is symmetry a controllable factor for parties to economic interdependence? Why or why not? How can asymmetry act as a power resource for states and other actors?

2. To what extent does the current international system conform either with realism or complex interdependence? How does the U.S. relationship with China offer an example of the conjunction of both of these ideal types?
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Chapter 7

Learning Objectives

After reading this chapter, you should be able to do the following:

? Differentiate between multiple dimensions of globalization and identify some popular misconceptions about the phenomenon

? Understand the novel aspects of twenty-first century globalization in the context of previous periods of globalization

? Describe contemporary political reactions to globalization and what affects those reactions

? Note how realists and liberalists differ in their views on the implications of increasing interdependence for cooperation and conflict

? Understand how globalization can entail a mix of zero-sum, positive-sum, and negative-sum situations

? Explain the concept of interdependence and note its different components and meanings

? Understand the significance of natural versus social sources of interdependence and identify instances of each source across multiple dimensions of globalization

? Understand the potential costs of interdependence

? Illustrate how asymmetries in interdependence can affect relationships and outcomes in world politics

? Note the influence that major economic institutions and powerful economies have had on shaping globalization

? Describe how the international oil regime has changed over the last half century and assess competing explanations for that change

? Explain how oil as a power resource affects the political power and policies of its major producers and consumers

Chapter Summary

Globalization, which refers to worldwide networks of interdependence, is not a new phenomenon. Although in contemporary times globalization is most often portrayed as an economic force, it has had (and continues to have) important environmental, military, social, and political dimensions. Twenty-first century globalization can be distinguished both in terms of significant increases in network density (thickness) and velocity (quickness). These changes, facilitated by improvements in information technology, complicate policymaking by increasing complexity and uncertainty. Political responses to globalization have varied widely, depending on its real and perceived effects on economics and culture. A previous wave of globalization was halted because it was perceived to cause inequality; current opposition stems from similar issues of economic interdependence.

Interdependence has four broad dimensions: sources, benefits, relative costs, and symmetry. It typically originates from both natural and social sources. The distribution of costs and benefits is crucial to the politics of interdependence. While interdependence sometimes creates positive-sum outco
mes, even in such cases political conflict may occur over the distribution of those gains. Further, asymmetry in interdependence often functions as a power resource.

Economic globalization is shaped by institutions that generally reflect the culture and preferences of predominant states. Since 1945, global economic order has been structured by the American-led Bretton Woods institutions. These institutions have been integral to the emergence of a highly globalized international system that exhibits many characteristics of the complex interdependence ideal type, in which both states and transnational actors interact in the pursuit of welfare via primarily nonmilitary means. Changes in the international oil regime, and in the politics of oil, demonstrate the emergence of patterns of complex interdependence alongside traditional practices of power politics. Supply disruptions and rising demand suggest the potential for continued conflict over oil, and oil politics is likely to be increasingly linked with environmental issues.