This chapter looks into the mystery as to why many people think that capitalism is the only viable economic system. Globalisation has significantly transformed the economic lives of people, and this is visible on an everyday level. Beyond the process of production, capitalism also goes hand in hand with social transformations such as the Covid-19 pandemic and the Black Lives Matter campaign. Since capitalism is a deeply political system with far-reaching effects on the international system, the chapter explores the myth that capitalism operates as a system of free enterprise independent of state involvement. Additionally, it considers the importance of reflecting on new ways of thinking about capitalism and how a world after capitalism might look.
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9. Capitalism
Book
Andrea Kendall-Taylor, Natasha Lindstaedt, and Erica Frantz
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20. Australia and global climate change
Matt McDonald
This chapter examines Australia’s engagement with the international politics of global climate change. It first provides an overview of the problem of global climate change and its likely effects, focusing on key complexities and dilemmas regarding climate change, and the evolution of the climate change regime through the United Nations Framework Convention on Climate Change (UNFCCC) process. It then considers key drivers of climate diplomacy, from the ideology and foreign policy perspectives of different governments to the role of public opinion and the ebb and flow of international cooperation. It shows that Australia’s changing approach to climate change cooperation underscores the profound challenges for the climate change regime.
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19. Rising Brazil and South America
Arlene B. Tickner
This chapter examines the role of South America in Brazil’s strategy to establish itself as a global player. It first provides an overview of Brazil’s foreign policy in order to situate its bid for power within wider historical patterns of interaction with the world. It then considers the impact of contemporary changes in international and domestic politics, including the end of the Cold War, globalization, the transition to democracy, and economic opening, upon Brazil’s external relations and how they increased the country’s diplomatic assertiveness. It also discusses the importance of South America for boosting Brazil’s credentials as a middle power and for promoting national development. The chapter concludes by highlighting many of the dilemmas faced by emerging powers such as Brazil, including the enabling (and disabling) role of domestic politics.
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1. Introducing Global Politics
This introductory chapter provides an overview of global politics, starting with an account of the global political sphere as a specialized area of study—more conventionally known as the discipline of International Relations (IR)—and including an explanation of the distinction between the ‘global’ and the ‘international’. It also addresses the extent to which the world is ‘globalized’, even as some pundits herald a halt to globalization and a return to the closed politics of nationalism. The chapter then explores the history of globalization, which provides an essential backdrop to the understanding of the phenomenon in the present, and the challenges to it. This includes attention to the interweaving of globalization’s political, economic, social, and cultural dimensions and some of the implications for the current state-based world order. Finally, the chapter considers the role of theory and method, including concerns raised by the notion of a ‘post-truth’ world.
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16. Global political economy
Nicola Phillips
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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28. Global trade and global finance
Matthew Watson
This chapter explores important issues in the conduct of global trade and global finance. In particular, it looks at how the Covid-19 pandemic has changed the experience of global trade and global finance in recent years. It asks why the global economy is so good at allowing some people to own untold riches while many others have too little money to meet basic subsistence needs, and whether the world would be better or worse off without the institutions of global economic governance. After discussing the globalization of trade and finance, the chapter considers the regulation of global trade and global finance. Two case studies are presented, one dealing with the Covid-19 vaccination programme and global economic recovery and another looking at US President Joe Biden's proposed global minimum corporate tax rate.
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2. Globalization and global politics
Anthony McGrew
This chapter examines the characteristics of contemporary globalization and how they are reshaping world politics. It argues that both the Covid-19 pandemic and climate change are indicative of just how deeply enmeshed the fate of communities and societies across the world has become, not to mention how globalization simultaneously unifies and divides the world. It explains why globalization challenges some of our traditional ways of thinking and theorizing about world politics. It asks whether there are limits to globalization or whether it is inevitable. It also considers the extent to which globalization is responsible for the emerging shift in the structure of world power, namely the ‘decline of the West’ and the ‘rise of the rest’. Two case studies are presented: one is about global food security and the other is about multicentric globalization.
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15. Conclusion: The Future of Democracy
This concluding chapter outlines a number of factors that will potentially shape the future trajectory of democracy. It is impossible to forecast with any certainty democracy's future trajectory. The state of global democracy will be determined by a number of complex, dynamic, and inter-related factors. Based on current trends and future projections about the state of the global economy, levels of instability and conflict, technological change, and China's development, it appears that the risks of a widespread authoritarian resurgence have grown. Given these prospects, it is important to consider the implications of a rise in the number of autocracies worldwide. How would a widespread authoritarian resurgence affect today's global order? Policymakers, analysts, and academics widely agree that the norms, values, laws, and institutions that have undergirded the international system and governed relationships between nations are being stretched and strained. Widespread democratic decline would also accelerate changes in today's global order.
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11. Globalization’s Impact on States
Colin Hay
This chapter discusses globalization's impact on states. There is no topic more controversial in the field of global political economy than the impact of globalization on the accountability, autonomy, capacity, and sovereignty of the nation state; and the controversy has only intensified since the onset of the global financial crisis. Arguably, the democratic character of governance in contemporary societies is at stake in such debates. The chapter reviews the extensive controversy that surrounds such questions, focusing attention on the principal mechanisms in and through which globalization is seen to impact upon the nation state and the empirical evidence that might either substantiate or question the existence of such mechanisms. It also provides a detailed assessment of the case for and against the globalization thesis, examining the extent to which global economic integration might be seen to restrict the parameters of domestic political autonomy. Moreover, the chapter differentiates between the politics of globalization and the globalization of politics. It concludes by considering the complex and sometimes paradoxical relationship between globalization, democracy, and the nation state.
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13. The Political Economy of Development
Nicola Phillips
This chapter examines the political economy of development. Despite the many accomplishments since the end of the Second World War, the problems of development in the contemporary global political economy are still of arresting proportions, and the various incarnations of a ‘global development agenda’ to deal with these problems have had a very mixed record. In fact, there is still little consensus on what development actually is, let alone how it might be achieved, in either academic debates or public discourse. One of the most disputed questions in this context relates to the relationship between globalization and development, and how people should understand the impact of globalization on development across the world. The chapter explores these debates. It starts by reviewing the different ways of thinking about development that have emerged since the end of the Second World War, and demonstrating how particular understandings of development have given rise to particular kinds of development strategies, at both the national and global levels. The chapter then considers the impacts and consequences of these strategies for development, and shows on this basis that many of the problems and failures of development have not only persisted but also worsened in the contemporary period.
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7. The Globalization of Production
Eric Thun
This chapter addresses the globalization of production. Although companies have been investing abroad for centuries, the most recent era of globalization has created an unprecedented range of possibilities for global firms to reorganize and relocate their activities. The chapter analyses how advances in transportation and technology allow a firm to divide up a global value chain — the sequence of activities that lead to the production of a particular good or service — and how these decisions create new opportunities and challenges for both companies and the societies within which they operate. It first reviews the rise of global production and the forces that have led to dramatic increases in foreign direct investment (FDI) and outsourcing. The central questions for any firm involved in global production involves how to govern the value chain and where to locate different activities. The chapter then provides a framework for understanding these issues and the implications of the various choices. It also applies these concepts to the case of East Asia, particularly China.
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10. Global Political Economy
This chapter offers an overview of the field of Global Political Economy (GPE)—also known as International Political Economy (IPE). It builds on themes introduced in previous chapters, including connections with theories of global politics. These are discussed from a historical perspective to enable a better appreciation of how ideas, practices, and institutions develop and interact over time. These theories arose substantially within a European context, although the extent to which these may be applied uncritically to issues of political economy in all parts of the globe must be questioned. Significant issues for GPE include trade, labour, the interaction of states and markets, the nexus between wealth and power, and the problems of development and underdevelopment in the global economy, taking particular account of the North–South gap. The chapter then discusses the twin phenomena of globalization and regionalization and the way in which these are shaping the global economy and challenging the traditional role of the state. An underlying theme of the chapter is the link between economic and political power.
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7. Global economic and trade governance
This chapter addresses the intersection of international law and international politics as it relates to global trade. To study global economic governance is to study international law, international relations, and international political economy (IPE) all at once. The chapter begins with a brief introduction to IPE, a discipline which seeks to understand the workings of the global economy in its political context. It examines the relationship between economic globalization and state sovereignty, before turning to the construction of the postwar global economic order, with a focus on the Bretton Woods institutions. The postwar global economic order has often been described as ‘liberal’ by virtue of its underlying assumptions and the ideological convictions of its framers. Importantly, the postwar liberal order was built by, and for, the developed countries of the Global North-a fact that has informed critiques emanating from the developing countries of the Global South. The chapter then assesses global trade governance, analysing the structure, powers, and role of the World Trade Organization.
Book
Edited by John Baylis, Steve Smith, and Patricia Owens
The Globalization of World Politics is an introduction to international relations (IR) and offers comprehensive coverage of key theories and global issues. The eighth edition features several new chapters that reflect on the latest developments in the field, including postcolonial and decolonial approaches, and refugees and forced migration. Pedagogical features—such as case studies and questions, a debating feature, and end-of-chapter questions—help readers to evaluate key IR debates and apply theory and IR concepts to real world events.
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14. Climate change and foreign policy
Matt Mcdonald
We live in a world of states. But arguably the core (existential) challenge we currently face on earth—the threat of climate change—is one that looks particularly ill-suited for the state system. The problem is clearly a global one; unilateral action is insufficient to address the challenge; and any attempt to agree on a cooperative response is immediately beset by complex logistical, institutional, and ethical challenges. Yet we have seen international agreements on climate change, and states have found ways to promote strong action on climate change (from other states and from the broader international community) in a range of ways. This chapter examines the challenges of addressing climate change in a world of states before exploring the means through which states have attempted to promote (and in some cases undermine) action on climate change, in the process reflecting on the success of these strategies.
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12. Conclusion Justice and the Future of Global Politics
This concluding chapter draws together some of the themes running throughout this book to address some key issues of justice and the future of global politics. In addition to outlining the concept of global justice, it deals with two contrasting normative approaches to issues in global politics, namely, cosmopolitanism and communitarianism, taking particular note of the debates that emerged in the post-Cold War period and which have been especially important for the analysis of human rights. The chapter looks at how these approaches map onto opposing strands of thought within the English school, namely, solidarism and pluralism. It then moves on to some specific issues in contemporary global politics involving the application of normative theory—citizenship, migration, and refugees. Finally, the chapter considers issues of intergenerational justice with respect to the normative links between past, present, and future and the responsibilities these entail.
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4. Critical Approaches to Global Politics
This chapter investigates critical approaches to global politics. While liberal and realist theorists probe each other’s ideas for faults and weaknesses, neither have challenged capitalism and its implications for social, economic, and political order. Marxism, on the other hand, which developed around the mid-nineteenth century, has provided very different perspectives and presents a significant challenge for mainstream approaches to global order in both theory and practice. Post-Marxist Critical Theory, along with historical sociology and world-systems theory, emerged in the twentieth century, giving rise to schools of thought which continue the critique of capitalism and the social and political forces underpinning it. Meanwhile, ideas arising from social theory, such as the extent to which perceptions of reality are socially conditioned and indeed ‘constructed’, achieved greater prominence following the end of the Cold War, an event which prompted many scholars to start asking new questions about global politics and the assumptions on which traditional theories rested. Constructivism, postmodernism, and poststructuralism remain concerned with issues of power and justice but provide different lenses through which these issues may be viewed in the sphere of global politics.
Book
Edited by John Baylis, Steve Smith, and Patricia Owens
The Globalization of World Politics is an introduction to international relations (IR) and offers coverage of key theories and global issues. The ninth edition has been updated to explore the most pressing topics and challenges that dominate international relations today, including a chapter on global health, which explores the impact of the Covid-19 pandemic. Pedagogical features—such as case studies and questions, a debating feature, and end-of-chapter questions—aid with the evaluation of key IR debates and the application of theory and IR concepts to real world events.
Chapter
6. Law
This chapter evaluates how law has come to function as a form of authority in global politics. It examines the myth of how international law provides a form of moral authority justifying rules, institutions, and enforcement mechanisms that will civilise global politics. As global politics is dominated by the struggle for survival between states and their conflicting self-interests, the myth of international law’s impossibility confronts its limitations. The chapter acknowledges the ambiguity of international law’s fundamental feature in the global scene as it simultaneously maintains global order and mediates political change. It references the work of Finnish international lawyer Marti Koskenniemi on questioning how the conflicts within international law are decided.
