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The outbreak of World War I during a period of unprecedented globalization and economic interdependence has often been cited as an example of how economic interdependence fails to prevent war or even contributes to it. [20] Other scholars dispute that World War I was a failure for liberal theory. [10] [21]
Thus, Keohane and Nye argue that the decline of military force as a policy tool and the increase in economic and other forms of interdependence should increase the probability of cooperation among states. [8] The theorists' work surfaced in the 1970s to become a significant challenge to political realist theory in international politics.
Interdependence theory is a social exchange theory that states that interpersonal relationships are defined through interpersonal interdependence, which is "the process by which interacting people influence one another's experiences" [1] (Van Lange & Balliet, 2014, p. 65). The most basic principle of the theory is encapsulated in the equation I ...
The outbreak of World War I during a period of unprecedented globalization and economic interdependence has often been cited as an example of how economic interdependence fails to prevent war or even contributes to it. [25] Other scholars dispute that World War I was a failure for liberal theory.
According to Angell, the economic interdependence between industrial countries would be "the real guarantor of the good behavior of one state to another", [7] as it meant that war would be economically harmful to all the countries involved. Moreover, if a conquering power confiscated property in the territory it seized, "the incentive [of the ...
As the global debt approaches $102 trillion, the United States and China are the top contributors to the increasing debt. According to data from the IMF and Visual Capitalist, in one year, the ...
China's top diplomat said on Tuesday he hoped the incoming Trump administration would "make the right choice" and work with Beijing, hours after Donald Trump told reporters the COVID-19 pandemic ...
The Bank of America economics team projects the US economy will grow at an annualized rate of 2.4% in 2025, also higher than Bloomberg consensus forecasts for 2.1% growth.