WESTERN HEGEMONY ON THE ECONOMY

INTRODUCTION

We can say that the western hegemony of the economy is the dominance or mastery the world economy by the western. As we know, developed countries like United States, Germany, France and United Kingdom are included in the group of western hegemony. These countries is among the countries which dominated or main player of the world economy. For our information, this countries that have a major power is a founder of the establishment of an exclusive club called “G7”.

G7

G7 (also known as the G-7) is the meeting of the finance ministers from a group of seven industrialized nations. It was formed in 1976, when Canada joined the Group of Six: France, Germany, Italy, Japan, United Kingdom, and United States. An economic and political group of the seven largest developed countries, the powerful group of nations does not include any developing nations. The finance ministers of these countries meet several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 Finance Deputies.

It is not to be confused with the G8, which is the annual meeting of the heads of government of the aforementioned nations, plus Russia. The G7 held a meeting on April 11, 2008, in Washington D.C., met again on October 10, 2008, in Washington D.C., and then met again on February 14, 2009, in Rome, to discuss the global financial crisis of 2007-2010. The group of finance ministers has pledged to take "all necessary steps" to help stem the crisis. Japanese Finance Minister Shōichi Nakagawa's behavior at a press conference for the latter meeting, where he allegedly behaved as if intoxicated, was the subject of criticism from the Japanese and international press.

MULTI NATIONAL COMPANY

For our information, western hegemony or the western developed countries also have a multinational companies where this companies operates all around the world. A large multinational corporations have the funds through funds of many countries. They can have a powerful influence in global politics, because of their economic effect of a very large range of politicians, as well as financial resources are sufficient for public relations and political lobbying. Multinational companies first emerged in 1602 called the Dutch East India Company.

One of the famous multinational company is a Coca-Cola companies. Coca-Cola is a carbonated cola drinks produced by Coca-Cola Company (Coca-Cola Company, NYSE: KO) from Atlanta, Georgia, United States. This drink is one of the most famous commercial brands in the world with the most extensive worldwide sales. After receiving the nickname widely used Coke, Coca-Cola Company and has registered this name as a trade mark. Created as a patent medicine in the late-19th century, Coca-Cola has been acquired by the entrepreneur Asa Griggs Candler, and the marketing tactics that are very wise, Coke managed to dominate the carbonated drinks market in the world in the 20th century. Although occasionally criticized for its impact on health and being treated as errors by the company, Coca-Cola is a carbonated beverage that is popular around the world.

Following is the other western multinational companies that operated all around the world:

Apple Computer AOL AT&T Bombardier Dell The Walt Disney Company Enron Exxon Fiat Fonterra Google General Electric General Motors Halliburton Hearst Corporation BP

WORLD FINANCIAL INSTITUTIONS

As we know, the mastery of the world's financial institutions are also dominated by western. 3 organizations of international funds called International Monetary Fund (IMF), World Trade Organization (WTO), and World Bank. The three organizations of that International funds is dominated by western.

IMF is an international organization that oversees the global financial system by following the macroeconomic policies of member countries, particularly affecting the exchange rate and balance of payments. The IMF also provides financial and technical assistance to member countries that make this organization as the latest international lender. IMF headquarters in Washington, DC, USA.

WTO is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986-1994). The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain. The WTO has 153 members, representing more than 97% of total world trade and 30 observers, most seeking membership. The WTO is governed by a ministerial conference, meeting every two years; a general council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the ministerial conference. The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

World Bank is a term used to describe an international financial institution that provides leveraged loans to developing countries for capital programs. The World Bank has a stated goal of reducing poverty. By law, all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment. The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). The World Bank is one of five institutions created at the Bretton Woods Conference in 1944. The International Monetary Fund, a related institution, is the second. Delegates from many countries attended the Bretton Woods Conference. The most powerful countries in attendance were the United States and United Kingdom which dominated negotiations.

Although both are based in Washington, D.C., the World Bank is by custom headed by an American, while the IMF is led by a European. The world bank plans to launch a project to distribute money for resort projects,renovation projects, etc. going by the name of project world, which is planned to launch in 2011.

WESTERN CURRENCY

In this era, we can see that the western currency is used around the world. For example, Dollar, Pound Sterling and Euro. In Asia, the countries like Brunei Darussalam, Hong Kong, Taiwan, East Timor and Singapore used dollar as their currency. Western currency has a high value than the national currencies of other countries in the world.

DOLLAR

United States is a main countries that use a dollar as their currency. The word dollar had been in use in the English language as a variant for "thaler" for about 200 years before the founding of the United States, with many quotes in the plays of Shakespeare referring to dollars as money. Coins known as "Thistle dollars" were in use in Scotland during the 17th century, and use of the English word, and perhaps even the use of the coin, may have begun at the University of St Andrews.[citation needed] This might be supported by a reference to the sum of "ten thousand dollars" in Macbeth (Act I, Scene II) (an anachronism because the real Macbeth, upon whom the play was based, lived in the 11th century). In 1804, a British five-shilling piece, or crown, was sometimes called "dollar". It was an overstruck Spanish 8 Real coin (the famous 'piece of eight'), the original of which was known as a Spanish dollar. Large numbers of these 8-real coins were captured during the Napoleonic Wars, hence their re-use by the Bank of England. They remained in use until 1811. During World War II, when the US dollar was (approximately) valued at 5 shillings, the halfcrown (2s 6d) became nicknamed a "half dollar" by US personnel in the UK.

Economies which use the dollar

 Antigua and Barbuda East Caribbean Dollar XCD  Australia and its external territories Australian Dollar AUD 1966-02-14 Australian Pound  Bahamas Bahamian Dollar BSD  Barbados Barbados Dollar BBD  Belize Belize dollar BZD 1973 British Honduran Dollar  Brunei Brunei dollar BND  Canada Canadian Dollar CAD  Dominica East Caribbean Dollar XCD  East Timor United States Dollar USD  Ecuador United States Dollar USD 2001 Ecuadorian Sucre  El Salvador United States Dollar USD 2001-01-01 Salvadoran colón  Fiji Fiji Dollar FJD  Grenada East Caribbean Dollar XCD  Guyana Guyana Dollar GYD  Hong Kong Hong Kong Dollar HKD 1863 Rupee, Real (Spanish/Mexican),Chinese cash  Jamaica Jamaican Dollar JMD 1969 Jamaican pound  Kiribati Kiribati dollar along with the Australian Dollar N/A/AUD

 Liberia Liberian Dollar LRD  Marshall Islands United States Dollar USD  Federated States of

Micronesia United States Dollar KWD  Namibia Namibian Dollar along with the South African rand NAD 1993 South African rand  Nauru Australian Dollar AUD  New Zealand and its external territories New Zealand Dollar NZD 1967 New Zealand pound  Palau United States Dollar USD  Saint Kitts and Nevis East Caribbean Dollar XCD  Saint Lucia East Caribbean Dollar XCD  Saint Vincent and the Grenadines East Caribbean Dollar XCD  Saint Pierre and Miquelon Canadian Dollar CAD  Singapore Singapore Dollar SGD

 Solomon Islands Solomon Islands Dollar SBD  Suriname Surinamese dollar SRD  Republic of China (Taiwan) New Taiwan Dollar TWD  Trinidad and Tobago Trinidad and Tobago Dollar TTD  Tuvalu Tuvaluan dollar along with the Australian Dollar TVD/ AUD  United States and its territories United States Dollar USD  Zimbabwe United States Dollar USD

POUND STERLING

For Pound sterling, the western countries that use that currency is United Kingdom, British Overseas Territories and Crown Liability Region. The pound sterling (symbol: £; ISO code: GBP), commonly called the pound, is the official currency of the United Kingdom, its Crown dependencies (the Isle of Man and the Channel Islands) and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence (singular: penny). The Channel Islands and the Isle of Man produce their own local issues of sterling; see Manx pound, Jersey pound, and Guernsey pound. The pound sterling is also used in Gibraltar (alongside the Gibraltar pound), the Falkland Islands (alongside the Falkland Islands pound) and Saint Helena and Ascension (alongside the Saint Helena pound). The Gibraltar, Falkland Islands and Saint Helena pounds are separate currencies, pegged at parity to the pound sterling. Sterling is the fourth most traded currency in the foreign exchange market, after the US dollar, the euro, and the Japanese yen, being ahead of the Swiss franc.

EURO

While Euro currency is used by Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovenia and Spain. The euro (sign: €; code: EUR; plural: euros) is the official currency of the eurozone: 16 of the 27 Member States of the European Union (EU). It is also the currency used by the EU institutions. The eurozone consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Estonia is due to join the eurozone on 1 January 2011. The currency is also used in a further five European countries, with and without formal agreements, and is consequently used daily by some 327 million Europeans. Over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa. The euro is the second largest reserve currency (a status it inherited from the German mark) as well as the second most traded currency in the world after the U.S. dollar. As of June 2010, with more than €800 billion in circulation, the euro is the currency with the highest combined value of banknotes and coins in circulation in the world, having surpassed the U.S. dollar. Based on IMF estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world.

The name euro was officially adopted on 16 December 1995. Euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Euro coins and banknotes entered circulation on 1 January 2002.

WORLD WEALTH

Other dominated and mastering the world’s financial institutions like IMF, WTO and World Bank, the western hegemony also focusing on dominated and mastering the world wealth. The example that we can take is that the United States which Washington dominate the overall Iraq oil resources. It also, poor-rich gap is very obvious that the major powers, especially the western powers that have a higher income than the countries under their auspices or authority.

WESTERN HEGEMONY ON THE POLITICS

INTRODUCTION

Political globalization has spread throughout the world with the power supply of science and technology of communications that can disseminate the information. Today, international politics is dominated entirely by a number of countries the major powers (super power), which indirectly reflects the dominance of the Western world. We see only instance in Iraq today. United States, which dominate the Security Council of the United Nations (UN) to authorize their veto along with Russia, the United Kingdom has intervened in the internal politics of Iraq.

It can be said in almost all regional and international disputes whether in Somalia, Bosnia-Herzegovina, Palestine, Kashmir, Iraq and other United States has been directly involved in the described themselves as 'world police'. The position of the United States as a world superpower that cannot be contested is due to the strength of the military and the military. After the end of the Cold War and the fall of the Soviet Union, United States has emerged is the only world superpower that cannot be beat.

PBB

As we know, the organization of PBB (United Nations Organization) is accompanied by 192 countries from all around the world included Malaysia. But the founder of this organization is from western initiated by Franklin D. Roosevelt during World War II. Organization of the United Nations or the PBB is an international organization formed in San Francisco, California on October 24, 1945 after World War II. Membership is open to all countries around the world. The main objectives, as set forth in the PBB charter, is to avoid the recurrence of great dispute, asserting that the main human rights, will ensure respect for international law, as well as improving the living standards of people around the world.

UN has been established solely to replace the League of Nations was disbanded after failing to prevent World War II. The original PBB headquarters located in San Francisco, but the PBB is now operating in New York who is the head office since 1946.

State UN (PBB) member countries Afghanistan (19 Nov 1946) Afrika Selatan (7 Nov 1945) Republik Afrika Tengah (20 Sep 1960) Albania (14 Dis 1955) Algeria (8 Okt 1962) Amerika Syarikat (24 Okt 1945) Amiriah Arab Bersatu (UAE) (9 Dis 1971)

Croatia (22 Mei 1992) Cuba (24 Okt 1945) Cyprus (20 Sep 1960) Republik Czech (19 Jan 1993) Denmark (24 Okt 1945) Djibouti (20 Sep 1977) Dominica (18 Dis 1978)

Pakistan (30 Sep 1947)

Afghanistan (19 Nov 1946) Afrika Selatan (7 Nov 1945) Republik Afrika Tengah (20 Sep 1960) Albania (14 Dis 1955) Algeria (8 Okt 1962) Amerika Syarikat (24 Okt 1945) Amiriah Arab Bersatu (UAE) (9 Dis 1971)

Croatia (22 Mei 1992) Cuba (24 Okt 1945) Cyprus (20 Sep 1960) Republik Czech (19 Jan 1993) Denmark (24 Okt 1945) Djibouti (20 Sep 1977) Dominica (18 Dis 1978)

Kepulauan Marshall (17 Sep 1991) Kepulauan Solomon (19 Sep 1978) Kiribati (14 Sept. 1999) Korea Selatan (17 Sep 1991) Korea Utara (17 Sep 1991) Kuwait (14 Mei 1963) Kyrgyzstan (2 Mac 1992) Laos (Republik Demokratik Rakyat) (14 Dis

1955) Latvia (17 Sep 1991) Lesotho (17 Okt 1966) Liberia (2 Nov 1945) Libya (Arab Jamahiriya) (14 Dis 1955) Liechtenstein (18 Sep 1990)

Russia (Persekutuan) (24 Okt 1945) Rwanda (18 Sep 1962) Saint Kitts dan Nevis (23 Sep 1983) Saint Lucia (18 Sep 1979) Saint Vincent dan the Grenadines (16 Sep 1980) Samoa (15 Dis 1976) San Marino (2 Mac 1992) São Tomé dan Príncipe (16 Sep 1975) Senegal (28 Sep 1960) Sepanyol (14 Dis 1955) Serbia (1 Nov 2000) Seychelles (21 Sep 1976) Sierra Leone (27 Sep 1961) Singapura (21 Sep 1965)

VETO POWER

Referring to the veto right given to a person or group to reject the results of the laws passed by several other members. Veto comes from Latin meaning "I forbid." Usually this right is limited because the

Kepulauan Marshall (17 Sep 1991) Kepulauan Solomon (19 Sep 1978) Kiribati (14 Sept. 1999) Korea Selatan (17 Sep 1991) Korea Utara (17 Sep 1991) Kuwait (14 Mei 1963) Kyrgyzstan (2 Mac 1992) Laos (Republik Demokratik Rakyat) (14 Dis

1955) Latvia (17 Sep 1991) Lesotho (17 Okt 1966) Liberia (2 Nov 1945) Libya (Arab Jamahiriya) (14 Dis 1955) Liechtenstein (18 Sep 1990)

Russia (Persekutuan) (24 Okt 1945) Rwanda (18 Sep 1962) Saint Kitts dan Nevis (23 Sep 1983) Saint Lucia (18 Sep 1979) Saint Vincent dan the Grenadines (16 Sep 1980) Samoa (15 Dis 1976) San Marino (2 Mac 1992) São Tomé dan Príncipe (16 Sep 1975) Senegal (28 Sep 1960) Sepanyol (14 Dis 1955) Serbia (1 Nov 2000) Seychelles (21 Sep 1976) Sierra Leone (27 Sep 1961) Singapura (21 Sep 1965)

executive and legislators have different responsibilities and duties as enshrined in the concept of separation of powers. Such power could only be enjoyed by the big powers only like western or developed nation. In practice, the veto can be absolute (as in the U.N. Security Council, whose permanent members (the United States, the United Kingdom, France, Russia, and China) can block any resolution) or limited (as in the legislative process of the United States, where a two-thirds vote in both the House and Senate may override a Presidential veto of legislation).

A veto gives power, possibly unlimited, to stop changes, but not to adopt them. The influence that the veto conveys to its holder is therefore directly proportional to the holder's conservatism, broadly defined. The more the holder of a veto supports the status quo, the more useful the veto.The concept of a veto body originated with the Roman consuls and tribunes. Either of the two consuls holding office in a given year could block a military or civil decision by the other; any tribune had the power to unilaterally block legislation passed by the Roman Senate.

OTHER IDEAS ABOUT WESTERN HEGEMONY ON THE POLITICS

Powerful country can act alone on the weak country. This situation can be proved when we recall back how the United States act the weak country like Iran and Afghanistan. In this issue, it shows us how great the power of the western nations. For example United States in military matters. in this issue, we can see how American companies are able to act alone, able to deploy troops to attack Iraq and Afghanistan without seeking approval, without proper discussion with other countries before the attack. The impact of these actions, makes other countries around the world get along, and they fear the power of the unitedIn addition, the state supporters will be given an award no matter the point of good or evil. Enemy countries would be subject to various sanctions including economic sanctions, diplomatic and others. Approach or example that we can take is the United States which has imposed sanctions on Japan followed by World War-2.

CONCLUSION

Resurrection of the western civilization after the fall of the Spanish Islamic government has opened a new era of Western domination on the basis of other countries, especially Islamic countries. The resurrection

that’s accompanied by a variety of military development, economics and finance has made the West to uses his powers for personal gain. West led by the United States conduct a variety of foreign policy is supposed to uphold justice but it was only their own rhetoric. For them, anyone who does not support them will be subject to a variety of actions including: the restriction of food, medicine, economics and other. This is experienced by the Muslim countries which trying to find true justice is dealt with by the West. Poor countries of the world does not miss suppressed" In aid of the World Monetary Fund, but in fact behind the aid, the country continues to suppress. This is the current scenario faced by the world's after the end of the Cold War in which American power has exceeded the limit. Moreover, when the globalization that created by them, pervasive in all parts of human life in the world today.