Rethinking IPE in the Age of Geopolitics
Abstract
The 21st century is a revolutionary century because of sophisticated technology, high-tech weapons, modern tactics used in terrorism in the 9/11 incident, industrialization, global warming, economic rivalry, and political upheavals. Technology and different philosophies have brought astonishing changes to the global political system. Therefore, it is very important to understand the International Political Economy (IPE), and the contemporary changes in the global economy and politics. It will also help to understand the effects of the illicit economy, and political uprisings in the Middle East and other regions. There is a correlation between IPE and politics. IPE is affecting politics,, and politics is impacting IPE. The economy plays a pivotal role in power politics, economic rivalry, inventions, industry, and trade. Today, the WTO and EU rules and policies benefit the developed rather than the developing nations. The research gap is that today's economic system is based on liberalization, equality, free trade, and prosperity, but it is missing in the world. Economic interdependence, globalization, nearness, and WTO and EU rules could not resolve the traditional & nontraditional security threats. There is a need to bring reform to the present economic system. The political upheavals affect IPE, and IPE causes political anomalies.
