Essay Sample on Global Financial Meltdown

Published: 2023-05-01
Essay Sample on Global Financial Meltdown
Type of paper:  Essay
Categories:  Finance Macroeconomics International relations Democracy
Pages: 3
Wordcount: 551 words
5 min read

I believe that leading powers do face various challenges from any rising country. For that reason, a leading power often adopts different strategies not only to maintain but also to preserve its position. One of the strategies that have often been used is the democratic enlargement strategy. In this context, the potential challengers to the leading state are restrained if they pursue to internalize the norms, beliefs, and values articulated by the leading state.

Trust banner

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

I concur that the strategy used in the United States is spreading democracy. In essence, leading power establishes various institutions through which they can legitimize their control. However, the dissemination of beliefs and values does not yield indefinite control. Most great powers articulate international normative order.

I believe that offshore balancing is one of the effective strategies deployed to prevent any rising power. For instance, the Concert of Europe was created to maintain stability by ensuring that power is distributed among themselves. For that reason, a country was prevented from dominating over the other. I agree that balancing can be one of the threatening sides of every conflict. Some states can use balancing as a means of gaining strength to allow them to form alliances to maintain the balance of power. However, it may be a strategy of containment where several attempts are channeled to prevent ambitious states from destroying and expanding balance and order in the international system.

I believe that binding and engagement is a vital strategies in responding to a rising power. In essence, binding strives at controlling the rising power's behaviors by embedding power into multilateral or bilateral alliances. I have learned that if a state becomes an alliance member, great powers will allow the state to contribute to establishing institutions and participate in every decision-making process to maintain the status quo. However, engagement strives at strengthening and minimizing the rising power to various aspects of its behavior that are consistent with great power's interest and its status quo.

One of the strategies for the rise of dominance is the strength of the military. Unites States roughly spend about $ 700 billion to keep its military per year. American system dominates the global system both politically, scientifically, intellectually, and culturally. For that reason, its emergence to a powerful state cannot be ignored.

I have learned that America was the preservation of British society in the New World. America used similar strategies as those of great powers to advance to its dominance positions. The country benefited hugely from the protection of the Atlantic and the Pacific Ocean. Also, the bordering countries were not that threatening. Through a strong military force, America was able to consolidate power and expand its territory.

I believe that internal stability was one of the strategies the United States could concentrate on broadening its interest and building its economy. American military system and technology advanced during the Civil war. In the 1880s, America gains more power through the spirit of freedom, innovation, abundant natural resources, cultural values, banking and manufacturing sector, immigrants, institutional stability, and a leading producer of agricultural products.

I have learned that America was able to rise by increasing globalization and institutionalization. However, America would have constrained if it embraces cooperation and multilateralism rather than unilateralism. In essence, the United States played a significant role in providing public goods.

Cite this page

Essay Sample on Global Financial Meltdown. (2023, May 01). Retrieved from

Request Removal

If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:

Liked this essay sample but need an original one?

Hire a professional with VAST experience!

24/7 online support

NO plagiarism