To investigate the dynamics of the Europe ‘92 project, we have applied Johan Arndt's Political Economy Paradigm, four dimension of which are: external, internal, polity, and economy. These will provide us with an extensive domain of interactive and interrelated components. Our analysis of the so‐called Internal Market supports the notion that Europe '92 will be a new actor, on the global scene. This will have far‐reaching and pronounced effects on the political dynamics of the new global security system characteristics of the post‐hegemonic multipolar structures. Our arguments suggest that the long term implications of Europe '92 may well indicate cross‐border interactions among states of the magnitude that can and should integrate the U.S. and Japanese economies. Furthermore, no hegemonic power is certain to emerge from such a complex international political economy, for in a not too distant future all nations will likely have developed interests in some type of cooperation. The logical progression of this trajectory points to further predictability in and global stability for the interstate relations.
Monshipouri, M. and Motameni, R. (1991), "INTEGRATION IN EUROPE (1992): A SCENARIO FOR THE GLOBAL STABILITY OR INSTABILITY", International Journal of Commerce and Management, Vol. 1 No. 3/4, pp. 17-38. https://doi.org/10.1108/eb060297
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