Final answer:
Hegemony in international relations involves a dominant power influencing global rules and institutions with potential consequences of conflicts and wars.
Explanation:
Hegemony refers to a system where one dominant power exerts influence over others in international relations. A hegemon, often characterized by its strong economy and military, can shape global rules and institutions for its benefit. While hegemonic stability theorists argue that a dominant power can maintain peace, critics point out that hegemony can lead to conflicts and wars to maintain power.
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