The Importance of International Political Economy

Paper Summary:

This paper explains that current political economic changes across the globe, such as the appearance of the euro, trends in foreign direct investment and the introduction of the Internet, have lead to a need to reform existing international politics and implement a more efficient system. The author points out that automobile and electronic manufacturers are not in favor of a globalized free trade but rather find it more advantageous to employ a closed economic block to wage war against rival firms in Japan and Europe. The paper stresses that an increasing gap between developing and rich nations needs to be stemmed by creating an environment, which is beneficial for conditions of long-term per capita income growth.

Table of Contents:
Introduction
History of Globalization and International Political Economy
Issues Surrounding Trade
Environmental and Social Issues
The International Political Situation: Now and in the Future
Problems International Political Economists Must Overcome
Conclusion: Future Directions

From the Paper:

"Contemporary trends toward enforcing major trade policies between numerous countries have provided a number of challenges. Even over the last decade, the NAFTA agreement, the WTO and the proposed (and failed) fast-track scheme U.S. President Clinton proposed in 1997-98 are three world-renown examples. NAFTA caused a lot of controversy, not only outside of U.S. borders but within. The agreement aimed to expand on an existing arrangement between the U.S. and Canada of "free trade" (a hallmark of globalization) which expanded in the late 1980s to include Mexico. "

Sample of Sources Used:

• "Globalization: Threat or Opportunity?" (2000). International Monetary Fund Report. <http://www.imf.org/external/np/exr/ib/2000/041200.htm> (16 November, 2006).
• Hieronymi, Otto & Currat, Catherine (2004). "Political Order and the Outlook for the Internal and International Use of Force in the 21st Century." Oxford Journals. Refugee Survey Quarterly, Vol. 23, (4), pp. 238-245.
• Khor, Martin (2006). "Globalisation, Liberalisation and Protectionism: The Global Framework Affecting Rural Producers In Developing Countries." Third World Network, pp. 1-37.
• "Political Struggles Will Determine Better Globalisation". South Centre: Global Policy Forum. <http://www.globalpolicy.org/globaliz/define/2006/03scholte.htm> (16 November, 2006).
• Skidmore, David (2001). "Civil Society, Social Capital and Economic Development." Global Society, <http://www.drake.edu/artsci/PolSci/personalwebpage/socialcapital.html> (16 November, 2006).

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