(a) i. The rise of China as the fastest growing economy in the world is posing a major threat to US hegemony. It is projected to overtake the US as the World’s largest economy by 2040.
ii.The current world order has moved away from unipolarity and is closely heading towards a multipolar world order. There are several alternate centers of power available in the world now.
(b) There are three possible strategies available before India
(i) Those Indian analysts who see international politics largely in terms of military power are fearful of the growing closeness between India and the US. They would prefer that India maintain its aloofness from Washington and focuses upon increasing its own comprehensive national power.
(ii) Other analyst see the growing convergence of interests between the US and India as a historic opportunity for India. They advocate a strategy that would allow India to take advantage of US hegemony and the mutual convergences to establish the best possible options for itself. Opposing the US, they argue, is a futile strategy that will only hurt India in the long run.
(iii) A third group of analysts would advocate that India should take the lead in establishing a coalition of countries from the developing world. Overtime, this coalition would become more powerful and may succeed in weaning the hegemony away from its dominating ways. India needs to develop an opportunities mix of foreign strategies to deal with the US hegemony.
(For Visually impaired students)
(a) (i) During the cold war period, the world order was bipolar in nature. It was divided between US and USSR along with their respective power blocs. After the disintegration of USSR, the world order became Unipolar in nature. It led to the rise of US hegemony in the world.
(ii) At present, the world order is no more unipolar in nature. It is in a transitional phase. It has moved away from a unipolar world order and is heading close towards a multipolar world order.
(b) The economic implications of US hegemony are as follow:
(i) Since the decline of British naval power after the Second World War, the multi- oceanic US naval has played the role of naval hegemony.
(ii) Internet is the direct outcome of a US military research project that began in 1950. Even today, the Internet relies on a global network of satellites, the internet relives on a global network of satellites, most of which are owned by the US government.
(iii) The US is present in all parts of the world, in all sectors of world economy and in all areas of technology. The US share of the world economy remains an enormous 28 percent.
