Given below are two statements:

Statement I: The "New World Order" began with the sudden collapse of Soviet Union in 1991.

Statement II: This "New World Order" denied the acceptance of US hegemony.

In the light of the above statements, choose the most appropriate answer from the options give below:

Statement I is correct but Statement II is incorrect

The correct answer is option (3) - Statement I is correct but Statement II is incorrect

Statement I: The "New World Order" began with the sudden collapse of Soviet Union in 1991. This is correct. The "New World Order" term is often associated with the end of the Cold War and the collapse of the Soviet Union in 1991. During the Cold War, the world was dominated by the ideological and military rivalry between the US (representing capitalism and democracy) and the USSR (representing communism). The collapse of the USSR left the US as the sole superpower, leading some to believe in a "New World Order" with the US as the dominant force.

Statement II: This "New World Order" denied the acceptance of US hegemony. This is incorrect. "New World Order" accepted the US hegemony. The United States emerged as the sole superpower, leading many people to argue that it exercised a degree of hegemonic power in international affairs. There is no denial that US hegemony was there in the New World Order.