ABSTRACT
The emergence, difficulties, and controversies involved will be explored in detail in the thesis, with the main emphasis to examine and analyse the power relationship between the US and the four major powers Russia, China, the EU, and Japan. The world economy may appear to be trilateral, but at the apex of abnormal unipolarism nexus of the world economic system is the United States. In great power perspective, the chain of events that may emerge from the nationalistic economic strategy would probably lead to neo-mercantilistic economic practices emerging from other major capitalist countries as well. The interest of this thesis is not in the process of globalisation as such, but the inherent policies that have guided its operation. This is especially evident in the end of the Cold War, where US foreign economic policy has 'guided' the phenomenon of globalisation. The message was to defend the US-led economic liberal order.
