Oil, Japan, and globalization
- Harvard Univ., Cambridge, MA (United States)
Today, the globalization of the international economy is nowhere as evident and complete as in the oil industry. Indeed, the production, distribution, and pricing of oil have already been infused into a transnational network of interconnected, transparent, and competitive markets. This sort of market arrangement, unlike its previous cartelized counterpart, rests upon a highly globalized economic framework whose very existence discourages a need for Western military intervention for the sake of oil. Returning to the bygone era, and judging the oil business accordingly, would create an impression that nothing has changed. This article describes the conflict of hegemony between the U.S. and Japan in the context of the global oil market.
- OSTI ID:
- 6499701
- Journal Information:
- Challenge; (United States), Journal Name: Challenge; (United States) Vol. 37:3; ISSN 0577-5132; ISSN CHLGBB
- Country of Publication:
- United States
- Language:
- English
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