Decline of the US, Dusk of World System 3.0 and New Possibilities for World System 4.0

Max Zhang Independent scholar
Abstract: The globalization has experienced three rounds of pushing, or three editions of world system – respectively the globalization of production and trade, government-business mechanism and capital operation. The end of the Cold War and China s reforms led to the falling of walls between social systems and the globalization with the United States as its representative sample came to its peak. However, administrative systems and ideologies based on nation states have presented barriers to globalization and, obviously due to that, the US is coming to its decline. The new edition of world system calls for breakthrough and change in nation-state system and China is poised to lead the new round of globalization.

Keywords: globalization, government-business mechanism, capital operation JEL classification: F02
DOl: 1 0.19602/j .chinaeconomist.20 17.04.04

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