The International Economic Order

Paper Summary:

This paper explains the requirements of a cooperative and stable international economic order through the context of global trade and financial relations. The author points out the historical perspective and some solutions to a better interdependency of the opposing forces in the global arena. The paper describes the evolution of financial markets through time and the progression of trade through advancements in both technological and relational aspects.

From the Paper:

"The world today is regarded as a "global village"; the rapidity with which information is exchanged, the speed of transport and the ease of communication have become standard. However, to understand how this came about involves taking a deeper look into the introduction of various international organizations and the way in which politics and economics are intricately connected. The realist approach to international relations assumes that there is anarchy, not in the sense of chaos and disorder but the actual absence of "world government" - there is no higher authority to which all states are subjected to and which is to have jurisdiction into states domestic issues."

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