The paper 'The Relationship Between Economic Systems and Political Systems in the International Arena' presents the global economy which has increasingly made countries depend on each other for their sustainability. Companies are breaking boundaries in terms of spreading their business operations…
Download full paperFile format: .doc, available for editing
Extract of sample "The Relationship between Economic Systems and Political Systems in the International Arena"
Download file to see previous pages
Interactions define cooperation amongst nations and corporations in various countries. Hence, it is essential to note that governments have the responsibility of defining economic policies that determine the transaction of international trade. Thus, the government’s role in defining economic policies enhances international relations in terms of the economy and politics while international forces in the economy can influence the policies of governments in international relations. Based on the foregoing, this expose describes the international political economy on the foundation of interaction between international politics and the global economy. Frieden and Lake defined the international political economy as the study involving the reciprocated interaction of politics and the economy in the global economic world (1). Following this perspective, it is common knowledge that the economy is the system that governs the processes constituting manufacturing, supplying, and consumption of products while managing a nation’s wealth efficaciously. On the other hand, politics is the approach towards governing a society and society’s economy. In effect, international political economy involves studying the relationship between economic systems and political systems in the international arena. Political decisions and actions of nations influenced the flow of products in international trade. In effect, these political actions and decisions influenced the choice of decisions made by nations and entrepreneurs due to the prevailing economic environment (Veseth 3). In this case, the international economy and international politics are two mutually interacting aspects that governments and businesses should consider while developing policies meant to enable a nation to develop by participating in international trade. Despite this knowledge, it is possible for economists to disassociate international politics from the international economy while developing strategies for their government’s involvement in international markets.
...Download file to see next pagesRead More
(The Relationship between Economic Systems and Political Systems in the Case Study - 1, n.d.)
The Relationship between Economic Systems and Political Systems in the Case Study - 1. Retrieved from https://studentshare.org/macro-microeconomics/1595467-how-would-you-describe-international-political-economy
(The Relationship Between Economic Systems and Political Systems in the Case Study - 1)
The Relationship Between Economic Systems and Political Systems in the Case Study - 1. https://studentshare.org/macro-microeconomics/1595467-how-would-you-describe-international-political-economy.
“The Relationship Between Economic Systems and Political Systems in the Case Study - 1”. https://studentshare.org/macro-microeconomics/1595467-how-would-you-describe-international-political-economy.
Cited: 0 times
CHECK THESE SAMPLES OF The Relationship between Economic Systems and Political Systems in the International Arena
... that they will enforce policies to promote communist ideologies and vice versa. This does not mean that the communist and non-communist fronts do not means to discuss matters of national importance. In 1946, there was a call from the non-communist parties to hold a joint conference known as the Chinese People’s Political Consultative Conference (CPPCC). China’s politicalsystem is defined by such fundamental aspects as the laws and the Chinese constitution, the political structure, rules, regulations and practices which are limited by the state power, relationshipbetween the state and societies and the government. It is during the CPPCC that both communists and non-communists came together with the democratic personages and adopted...
... of turbulent political events, a fight against oppression and for democracy is shown on the example of Libya and Egypt. Such kind of social unrest is the outcome of improper regulations on the internationalarena and ever existent corruption. In case these two roots of evils are eradicated, there is a hope to establish a democratic society in the world. Works cited 1. Libya is Bigger Issue for EU than for U.S. . From official Website of The European Institute. [online]. Available from: http://www.europeaninstitute.org/February-2011/libya-is-bigger-issue-for-eu-than-for-us.html [Accessed February 24 2011] 2. Egypt and the Middle East: revolution or evolution? [online]. novelactivist.com. [Accessed February 24 2011]....
The renaissance paradigm tried to account for the shortcomings of the scholastic paradigm by acknowledging scientific principles (Skyttner, 2006). This paradigm introduced the notion of careful observation of the universe, with inferences and conclusions drawn from observation. This era saw the introduction of scientific methods of considering the factors that affected humankind. For example, Skyttner (2006), states that the emergence of knowledge about astronomy greatly increased understanding of humankind as is now known. The beginning of the 18th century saw the firm establishment of the scientific world view, which was done during the mechanistic paradigm and determinism. In this era, the traditional superstitions were r...
A research paper on Political systems in India for the purpose of bringing Nokia to the country By Vivek Shivram d 16th October, 2006 Introduction Culture has always proved to be a deciding factor in pleasing customers. Customers in Bahrain have a distinct set of requirements as compared to customers in Europe. The mindsets of people, which are more a matter of inheritance than development, must be properly attended to if corporate houses are to be successful. Turning a blind eye to specific consumer requirements would not only stunt the project's success, it can devastate the company's fortunes in the long run. The Indian market, like all others, has certain specific requirements that have to be fulfilled. A consumer market...
...QUESTION Although one hardly exists without the other, politicalsystems and economics are distinct sciences from the other as both bank on, and require different modalities of scope, thinking, treatment and purpose. Setting them as separate studies highlights their essence, and makes it easier to answer queries on the dynamics of the society in terms of each discipline per se.
Politicalsystems explore the interplay of the political bodies and the state itself throughout history to explain why some societies succeed and some eventually fail. It delves on the art of making politics and governance work in the attainment of the state's interests.
The society is viewed as a mesh of different people vying for different interests...
In the early twentieth century, Europe suffered wars considered most destructive in the human history; harsh political and economic rivalries between its states. At the dawn of twenty first century, the states of Eastern and Western Europe united in a continental scale politicalsystem. The foundations of democracy of the European are weak because the decision making amongst the twenty seven states is difficult. Otherwise, the union is one of the most remarkable achievements of modern times.
Currently, there are twenty seven countries in the European Union. The countries that joined in 1958 include Belgium, Germany, France, Italy, Netherlands and Luxembourg. These six countries were motivated to put collectively...
The essence of free trade is to enforce non-discriminate practices that monitor, regulate, and control both imports and exports. In the global context, promoting free trade means opening up global markets. In other words, markets increasingly become liberal as protectionist activities reduce. The idea is to offer global trade players an equal environment within which they conduct their business. Notably, governments are the primary enforcers of free trade in the international trade environment. In streamlining free trade across the globe, governments come up with policies or programs that formulate and implement oversight authorities such as World Trade Organization and the European Union. These bodies enforce trade agreemen...
The term political economy is said to have found its origin in the 18th century, during this time, it was referred to as the study of states or polities, and hence its present name – political economy. Following this historical development, it is evident that the political economy in modern times deals with the way governments make decisions on the distribution of income and wealth to its citizens to spur growth and development. In addition, political economics looks at how various political forces play a role in shaping various economic policies of a country, especially with regard to distributional conflicts relating to resources and management of political institutions. It examines how governments make their overall...
...Comparative EconomicSystems Country Population and Population density Income category GDP Growth rate GDP per capita (international $) (2013)
Income Distribution GNI Coefficient (US$) (2013)
Literacy rate (2011)
50,219,669 and 515 per sq.km.
1,357,380,000 and 145 per sq.km.
Upper middle income
1,252,139,596 and 416 per sq.km.
Lower middle income
35,158,304 and 4 per sq.km.
... EconomicSystems in China Economic growth of a nation is controlled mainly by parameters like, political stability, lack of agitations in the society or industrial sectors and also the country’s ability to mobilize the internal resources along with attracting foreign direct investments (FDI). The people’s living standards, unemployment problems, educational levels, infrastructure developments, overall domestic peace levels and also the relationships with the neighboring countries all will reflect the economic growth of a nation.
According to the article China’s Economic Rise—Fact and Fiction, by Albert Keidel (2008), China’s economy will surpass that of the United States by 2035 and be twice its size by midcentury (Keidel). Even though...
12 Pages(3000 words)Term Paper
Save Your Time for More Important Things
Let us write or edit the case study on your topic
"The Relationship between Economic Systems and Political Systems in the International Arena"
with a personal 20% discount.