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7 Chapter 06-PostColdWar water

2001eurobecamelegaltenderformostmembers

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Unformatted text preview: e The European Union • Began with old foes, France and Germany, making a Coal and Steel Community in 1951 • 1993 Maastricht Treaty ­ economic and political union – Single market for capital, goods, services, and labor – Common Parliament, Ministry, Court of Justice • 2001 Euro became legal tender for most members European Union – 26 states European Union – 26 states The Euro The Euro EU Institutions EU Institutions U.S. Economic Hegemony U.S. Economic Hegemony • US still world leader in economic system – – – Dominance in global trade and finance American consumers: credit cards/mortgages US Dollar still reserve currency • Other countries’ misfortunes and obstacles – Germany and Japan – relative decline in the ‘90s – China and Russia – transition from som – African economies ­ declining Globalization and Fragmentation in Globalization and Fragmentation in the new World Order • Fragmentation at the end of the Cold War – Samuel P. Huntington and “The Clash of Civilizations?” – Conflicts of the future will be ‘cultural’ – “The West versus the rest” – Greatest cultural divide: Western ‘modernizing’ versus traditional cultures Map of Civilizations – Map of Civilizations – according to Huntington Major Post 1991 Conflict Systems Major Post 1991 Conflict Systems • Africa • • • • – Somalia 1991­1995, Rwanda 1994, Congo 1996...
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