Global Politics and Economy

Paper Summary:

This essay briefly discusses the major trends of the global politics and economy in this tumultuous period of world history. It looks at issues such as the collapse of Communism, Iran-Iraq conflict, the Gulf War, globalization, terrorism and the rise of Islamic fanatism.

From the Paper:

"The world politics and economy of the late twentieth century were highlighted by the collapse of communism in the Soviet Union and Eastern Europe, the promise of a "new world order" and the rise of "globalization." These developments were accompanied by a worldwide trend of increasing democracy, trade liberalization and booming economies. The start of the twenty-first century, on the other hand, has seen the emergence of the so-called "clash of civilizations" and the long drawn out "fight against terrorism" with the inevitable slump in global economies."

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