Global123_EssayOption#2

Global123_EssayOption#2 - 2 Two contrasting “idea...

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Unformatted text preview: 2) Two contrasting “idea types” have been proposed by scholars to describe the contemporary world economy: an “inter-national economy” model and a “globalized economy” model. Describe what distinguishes each of these two types and discuses that in your opinion, more closely approximates the reality of the international political economy today. Defend your opinion with evidence drawn from at least two of the issue areas (trade, money, economic development, etc.) that we have studied in this course. a) Intro a. I t seems if our world is more of an inter-national economy though we retain aspects that look like we have globalized. i. Economic development ii. Trade 1. Tariffs NTB 2. Necessity of regimes to stop the world from collapsing to protectionism iii. Currency 1. In terms of nations carrying US$ showing that the world recognizes it to be a hegemony. Though as its looses its power countries like China are calling for a change. b) Paragraph two a. Inter-national economy i. This is where states are highly involved with the trade. ii. Trade barriers such as Tariff and NTBs play a large role in deciding where and how much trade is moved. iii. This is a more Realist way to look at the world. It believes state boarders play a large role in making policy • principal entities are national economies • trade/investment interconnectedness, btw still national economies • trade relations: take form of international division of labor (comparative advantage) • but nations act as organizing principle of system • interdependence is strategic • international events are of the “billiard ball” type- events do not directly penetrate domestic economy, but occur due to national policy...
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Global123_EssayOption#2 - 2 Two contrasting “idea...

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