Meaning: 'Marked' means to be distinguished or characterized by a specific quality or feature, indicating that the last 15 years have been notably defined by this fascination.

Wrong options:

• dedicated: 'Dedicated' implies a commitment or devotion to something, which does not fit the context of describing a period characterized by a fascination.
• made: 'Made' is a verb that does not convey the sense of defining or characterizing a period, making it unsuitable in this context.
• inspired: 'Inspired' suggests a motivation or influence, which does not accurately describe the nature of the last 15 years as being defined by fascination.

Correct answer: characterized

Explanation: The word 'characterized' is appropriate here as it indicates that the new order in millennial capitalism is defined by a specific feature, which is the decline in U.S. cultural hegemony. This fits grammatically and contextually, as it describes the nature of the new order.

Meaning: 'Characterized' means to be marked by or to have a particular quality, indicating that the new order is defined by the decline in U.S. cultural dominance.

Wrong options:

• pocessed: 'Pocessed' is not a valid English word and does not fit grammatically or contextually.
• opposed: 'Opposed' suggests a conflict or resistance, which does not align with the context of describing a defining feature of a new order.
• tangled: 'Tangled' implies confusion or complexity, which does not accurately describe the nature of the new order in capitalism.

Correct answer: concomitant

Explanation: The word 'concomitant' fits well as it indicates that the relative decline in U.S. power occurs simultaneously with Japan's growing influence. This aligns with the context of the sentence, which discusses two related trends.

Meaning: 'Concomitant' means occurring or existing at the same time, suggesting that Japan's rise in influence is happening alongside a decline in U.S. power.

Wrong options:

• discrete: 'Discrete' means separate or distinct, which does not fit the context of describing two trends that are happening simultaneously.
• proportional: 'Proportional' refers to a relationship in size or amount, which does not accurately describe the relationship between Japan's influence and U.S. power.
• legitimate: 'Legitimate' means valid or lawful, which does not relate to the context of describing the simultaneous trends in influence and power.

Correct answer: on the contrary

Explanation: 'On the contrary' is the correct phrase as it introduces a contrasting idea, indicating that despite the critiques, these scholars have produced valuable work. This fits grammatically and contextually, as it sets up a contrast to the previous statement.

Meaning: 'On the contrary' means to indicate that something is true in opposition to what has been stated, emphasizing the value of the scholars' work despite critiques.

Wrong options:

• however: 'However' is a transitional word that introduces a contrast but does not fit as smoothly in this context as 'on the contrary' does.
• in addition: 'In addition' suggests adding information rather than contrasting it, making it unsuitable for this context.
• on the whole: 'On the whole' implies a generalization or summary, which does not convey the necessary contrast that 'on the contrary' provides.