This work offers an interpretation of the international political economy, focusing on the opportunities and constraints which the leading members of the capitalist system have to confront. Not disregarding the significance of the presently marginalized Third World, the underlying theme relates to the secular tendency of uneven development between major core nations. This trend accelerated during the era of US "benevolent hegemony", resulting in the creation of surplus production capacity - a problem exacerbated by the growth of the NICs in East Asia.
