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The Globalization of World PoliticsAn Introduction to International Relations

The Globalization of World Politics: An Introduction to International Relations (9th edn)

John Baylis, Steve Smith, and Patricia Owens
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date: 25 June 2024

p. 24416. Global political economylocked

p. 24416. Global political economylocked

  • Nicola Phillips

Abstract

This chapter introduces the field of international political economy (IPE), the themes and insights of which are reflected in the global political economy (GPE), and what it offers in the study of contemporary globalization. It begins with three framing questions: How should we think about power in the contemporary global political economy? How does IPE help us to understand what drives globalization? What does IPE tell us about who wins and who loses from globalization? The chapter proceeds by discussing various approaches to IPE and the consequences of globalization, focusing on IPE debates about inequality, labour exploitation, and global migration. Two case studies are presented, the first looking at global value chains (GVCs) and global development and the second dealing with globalization and child labour.

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