ABSTRACT
The last decade has seen fundamental changes taking place in international relations. The international system which is gradually replacing the bipolar system of the post-Second World War period is still in the making. Although important features may be identified, the emerging picture is complex and contains ambiguities. The situation is characterised by mounting globalisation, particularly in the economic field, driven by a revolution in technology and communications. Within some fields, military power in particular, the US hegemonic status has become more transparent and more widely recognised than· before. Although a hegemony within this core area will have a spillover to other areas of international politics, this is the case only to a certain degree. Much of the so-called globalisation materialises within regional confines. An important characteristic of regionalism is that it tends to countervail global hegemony by a single power.
