Neomercantilism also spelt as neo-mercantilism is a policy regime that encourages exports, discourages imports, predominance capital movement, & centralizes currency decisions in the hands of a central government. The objective of neomercantilist policies is to put the level of foreign reserves held by the government, allowing more powerful monetary policy & fiscal policy.
Neomercantilism is considered the oldest school of thought in international political economy IPE. it is rooted in mercantilism, a preindustrial doctrine, and gained ground during the Industrial Revolution. it is also considered the IPE counterpart of realism in the sense that both shit that power to direct or setting is central in global relations. This regime is also associated with corporatocracy especially during the 1970s when both were treated as components of a functional system and policy goals. In the United States, neomercantilism was embraced in the slow 20th century amidst the carry on to buttress American industries from Japanese competition. American thinkers who subscribed to the doctrine, however, increase Alexander Hamilton, one of the Founding Fathers of the United States and the first U.S. secretary of the treasury.