A Primer on Private Placements
When we think about investment banks, as well as the activities that they undertake, we tend to think about initial public offerings, debt syndication, and other such activities that are very visible to the public eye. However, the reality is that a lot of investments that are routed via investment banks are actually private placements. […]
How is B2B Marketing Done ? – Process of Business to Business Marketing
Business marketing refers to the sale and purchase of goods and services between two businesses. Let us understand the complete process of Business to Business Marketing No client would like to invest in your brand unless and until it stands apart from the rest. Your products and services must stand apart from the rest to […]
Application of Talent Management in Current Economic Condition
The current economic conditions demand a cut in the expenses. Unfortunately enough for talent management though organizations and leadership is all praise for it on papers, the same is neglected as seen as a cost center when it comes to implementation. In wake of the economic recession human resource professionals are under huge pressure to […]
The Value of a Product Manager for Companies
Product management is needed in companies that have several products and brands where the need for integrated management of the product lifecycle makes the difference between success and failure. Hence, these companies need to create the post of a product manager who can help them manage the end to end product development in a seamless […]
The Need to Keep Journalism Free from Paid Public Relations
The Media is an Extension of Big Business Now In recent years, the concept of paid news and advertorials that are a combination of editorials and advertisements have become commonplace around the world. While the media always had a cozy relationship with the advertisers because both depend on each other for sustenance, the recent trends […]
The global political and economic system has undergone many changes over the last few decades. If the aftermath of World War 2 was to bring about the existence of two opposing camps consisting of the United States and the Soviet Union leading to the cold war, the post 1990 global political economy has been characterized by the emergence of the United States as the sole superpower with unbridled power.
However, the unipolar moment in the world for the United States was short lived as the 9/11 attacks comprehensively demonstrated that the United States could not take its preeminence for granted.
Further, the financial crisis of 2008 marked the end of the hegemony of the West and ushered in an era of competing states vying for dominance in the global political economy with no clear hegemon.
The evolution of the global political economy from that of detente between the US and the USSR to the birth of the unipolar world and to the ushering of the power of the East makes for fascinating analysis. If there is a clear lesson in all this, it is that no country can take its position for granted and that the fluid and ever changing global system means that the emergence of hegemonic powers also sows the seeds for their eventual decline. The reason for such fluidity and flux is that the arrival of technology and globalization has queered the pitch for the hegemonic powers and with increasing awareness and cognizance of the happenings across the world to the citizens of the countries, it is no longer possible to contain the yearning for freedom and security.
On the other hand, the world has become less safe as a result of the changes brought about due to globalization and the rise in the number of failed states is an indicator that whole countries are withering away wherein they cannot guarantee the security and prosperity of their citizens.
Further, the fact that globalization has increased the threats to humankind has only exacerbated the situation to a point where an isolated incident in one corner of the globe has the potential to bring the global political economy to its knees. These are some of the challenges that confront the policymakers in the west and the east as they grapple with the emergence of the new world order.
Finally, it is the case that the study of the global political economy yields the conclusion that the only constant in the world is change and that unless countries around the world seize the moment for themselves and not let go of opportunities, they are likely to be left behind in the race for dominance and even survival. In conclusion, the world is not what it used to be a few decades or a few centuries ago and hence it is in the interest of all aspiring professionals in all fields to pay attention to the changing contours of the global political economy.
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