A New Cold War in the Horizon - Reconfiguration of the World Order

The Cold War has tensioned the international relations for four decades. Practically, on the political military level all the important zones of the world characterized by local balance were connected to the central balance between the two superpowers USA and URSS. The rise and decline of the great powers being in a close connection with the economic component determined the loss of some positions in the world order of different states in different periods, as a result of the loss of economic standing. Therefore, it is imposing to analyze China's actual role as an emergent power because the divergent interests in the Pacific between China and USA may lead to a military confrontation a second Cold War being imminent. The reconfiguration of the world order from the perspective of economic and political movements generated by globalization manifestations and tensions existing at the level of world economy at present makes the object of the respective paper. (C) 2012 Published by Elsevier Ltd. Selection and/or peer review under responsibility of Emerging Markets Queries in Finance and Business local organization