World Political Economy Research Articles

The Big Four: Multiple Functions and Power in Global Value Chains

ABSTRACTMany believe that the Big Four are simply global accounting firms with a large menu of additional services. Using both quantitative and qualitative data, we show that their role in the world political economy extends much beyond such description. We argue that the Big Four play a coordinating role in the organization and expansion of global value chain (GVC) in multiple territories, value‐chain segments and at multiple scales. Building on the literature of the multidimensionality of power in the GVC, we investigate the multiple dimensions through which the power of the Big Four is exercised. Uncovering the power manifestations of the Big Four as global actors, the article contributes both empirically and conceptually to the dialogue among the literatures on the international political economy, critical accounting and GVC.

The Use of Strategies in Diplomatic Translation

With the continuous development of the world's political economy, global communication and dialogue in the post-pandemic era have returned to normal, and the demand for diplomatic translation has also increased. The dialectical unity of precision and ambiguity is a common linguistic feature of diplomatic language usage in various countries. As the important official access to cross-cultural communication, if some expressions in diplomatic translation cannot be properly handled, they may lead to serious diplomatic accidents. Restricted by the influence of national psychological traits, historical and cultural backgrounds, and values, there is a significant linguistic and cultural distance between Chinese and Western languages, causing the different translation methods adopted in translation. With specific language registers and translation strategies, countries have developed different diplomatic images and sought communication and cooperation This article mainly compares the translation skills taken by China and the US in the diplomatic context and analyzes the underlying reasons, exploring the impact of political stances on diplomatic translation.

“An Imperial Clearing House for Commercial Information and Suggestions:” The British Imperial Council of Commerce, 1911–1925

AbstractThis paper departs from the preoccupation in the literature with the pressure group activity of single chambers of commerce by examining an influential but previously neglected federated business pressure group, the British Imperial Council of Commerce (BICC). Set within interlocking dynamics of British Imperial and global history and the clamour for imperial preference, it focuses on BICC's interface with the British government and its overseas dependencies in the context and vortex of Imperial economic policy, the First World War, interimperial competition, especially Anglo–German rivalry, and the vagaries of the world political economy. This essay provides insights into the internal affairs of the BICC, business–government relations in the British Empire, and the political economy of the Empire between 1911 and 1925. It demonstrates how the BICC, focused on Imperial economic governance, navigated the conflict between the prevailing ideology of laissez faire (free trade) and the clamour for xenophobic protectionism during the First World War and its aftermath. The paper highlights the limits of business pressure group activity, and the impact of the war and its aftermath on the BICC.

Upaya Meti (The Japanese Ministry Of Economy, Trade And Industry) dalam Mempertahankan Dominasi Perusahaan Otomotif Jepang di Indonesia

The development of the world political economy cannot be separated from the role of the industrial sectors. Japan is ones countries that the relies on the industrak sectors to support the national economy is namely the automotive industry. Indonesian has been a market for the Japan automotive industyry since the 1960 decade and the situation continued unitil the decade 2000 years. On 2015-2020 years period is representation of development of the Indonesian automotive market is was mor complex when competitor appeared from China dan South Korean which caused concern from Japan because it could reduces that had been foprmed to so far. In Dealing with attack by automotive industry South Korean and China on Indonesian on national market, the Japanese Government, throught METI (The Japanese Monistry of Economy and Trade and Industry) then the provided mediation and the un-financial support to deal with competition in he automotive industry market with impresife strategy of automotive industry from China dan South Korean.

A Review of Iran's Developmental Challenges in the Contemporary International System: A Non-Iranian Perspective

This research looked at the hurdles to Iran's growth plans in the modern world political economy. The data for this study was gathered from secondary sources such as textbooks, magazine articles, and online sources, and the data was analysed using content analysis. According to this study, Iran has been plagued by violent strife for many years. Furthermore, the mistaken economic policies of earlier Iranian leaders, as well as a reluctance to open the economy to international investors, have contributed to the country's economic stagnation throughout the years. Finally, this study suggests, among other things, that a total shutdown of the Iranian economy in the current global economy will continue to deprive Iran of the myriad economic gains associated with globalisation.
 
 Received: 11 October 2022 / Accepted: 30 December 2022 / Published: 5 January 2023

Analysis of the impact of COVID-19 on the global political economy

The current COVID-19 pandemic has caused people all over the world to consider how each nation has responded to the outbreak. The effects of the COVID-19 pandemic have had a significant impact on the global political economy. It has been stated that the COVID-19 pandemic has altered the characteristics and environments of individuals across the planet (Lomperis, 2020). The aim of this paper is to focus on and analyse the impacts of the COVID-19 pandemic into three different theoretical perspectives on international political economy which are liberalism, structuralism, and mercantilism. This study employed qualitative research for the renowned three theories in international political economy. Data for this study came from already-published works on the political economy of the world. The methodology substantially drew from the body of prior research on the topic at hand. This research showed the correlation between the political and economic aspects of international political economy with the current situation. The theoretical framework and impacts of the COVID-19 pandemic on the world political economy have been discussed in this paper. The impact of the COVID-19 pandemic is more towards the economic sectors rather than politics. However, all leaders should be prepared to have a contingency plan to avoid their country’s getting worst.

The Role of the United Nations Female Army in Geopolitical Stabilization of the Middle East

The Middle East is an area that has many geopolitical interests, which has resulted in the emergence of political instability in the region. This has affected the security conditions and the world's political economy. Female peacekeepers are sent by intergovernmental organizations, such as the United Nations (UN), to carry out political stabilization programs in the Middle East. Significant effort has been made by the United Nations to carry out female soldiers’ operations as peacekeepers. This study focuses on the role of female UN soldiers in the geopolitical stabilization efforts in the Middle East. This study uses the concept of the role of inter-governmental organizations (IGO), female military, and geopolitical interests. This research uses a qualitative-explanatory analysis that study the crucial role of female soldiers in IGO's efforts for geopolitical stabilization in the region. This study reveals that female soldiers sent by the UN have a positive contribution to the keeping of peace in the Middle East region.

Winners of the Distinguished Achievement Award of World Political Economy of the Twenty-First Century (2021)

Winners of the Distinguished Achievement Award of World Political Economy of the Twenty-First Century (2021)

A Study on Robert Keohane’s Idea of “Power”

Robert Keohane is a leading contemporary international relations scholar. His ideas and doctrines are important parts of neoliberal institutionalism. In his books Power and Interdependence, and After Hegemony: Cooperation and Discord in the World Political Economy, he has a unique perspective on power, a core concept of international relations, that differs from realism and constructivism. This paper uses documentary analysis to distill and summarize the discussion of power in Robert Keohane’s work, which helps to systematically study the neoliberal institutionalist view of power and to make the classic theory show its charm beyond its time.

A Study on Robert Keohane’s Idea of “Power”

Robert Keohane is a leading contemporary international relations scholar. His ideas and doctrines are important parts of neoliberal institutionalism. In his books Power and Interdependence, and After Hegemony: Cooperation and Discord in the World Political Economy, he has a unique perspective on power, a core concept of international relations, that differs from realism and constructivism. This paper uses documentary analysis to distill and summarize the discussion of power in Robert Keohane’s work, which helps to systematically study the neoliberal institutionalist view of power and to make the classic theory show its charm beyond its time.

The Complexity and Instability of Policy Conditionality and Transfer: IMF Interventions in the Political Economy of South America.

International Monetary Fund (IMF) interventions have evolved in the last sixty years based on the predominant orthodoxy in world political economy with a focus in recent decades on encouraging liberal market conditions to secure inward investment and capital flows. This has resulted in a dominant model of policy conditions and transfer, but with a debate about the contextual relevance. This paper uses an innovative approach to longitudinal research, called Dynamic Pattern Synthesis, to compare the economic performance of South American nations between 2000-2015. The results from using this method illustrates multifinality in the IMF outcome of encouraging foreign direct investment. A complex configuration of influences on this outcome are evidenced. Complexity theory is used to explain the results, with the continent defined as a complex system that does not respond to simple causal policy mechanisms, but rather displays different patterns of political and economic influence in the context of global market instability. Different foreign direct investment configurations result, and these illustrate that international monetary and policy interventions need to be contextual and cannot make simplistic and universal assumptions about policy problems and their mechanistic solutions.

The rise of China in economic cooperation International in the East Asia Region

East Asian economic characteristics that involve the role of the state as well as the development of the industry, has been relatively creates confidence in the market so that the flow of capital, goods, and services began to lead to the region since the late 20th century. The excess of the advance of China as the new political economic power is also growing wider market in Southeast Asia. The emergence of China as the dominant country in the world political economy are not purely derived from the ability of domestic governance, but also factor disclosure strategy in East Asian economies led by the extractive industry transformation towards manufacturing industry. This expansion translates into core industry sectors in East Asia.This article is intended as a preliminary study on the degree of China's industrial sector expansion in East Asia, as well as identifying the internal factors in the expansion of China's influence. By using the approach as well as the extended behavioralism regionalism as a tool of analysis , this article finds that China is a state actor who is more emphasis on manufacturing and trade sectors of consumer goods as a strategy into an economic hegemon in its own region , formerly controlled by Japan

The rise of China in economic cooperation International in the East Asia Region

East Asian economic characteristics that involve the role of the state as well as the development of the industry, has been relatively creates confidence in the market so that the flow of capital, goods, and services began to lead to the region since the late 20th century. The excess of the advance of China as the new political economic power is also growing wider market in Southeast Asia. The emergence of China as the dominant country in the world political economy are not purely derived from the ability of domestic governance, but also factor disclosure strategy in East Asian economies led by the extractive industry transformation towards manufacturing industry. This expansion translates into core industry sectors in East Asia.This article is intended as a preliminary study on the degree of China's industrial sector expansion in East Asia, as well as identifying the internal factors in the expansion of China's influence. By using the approach as well as the extended behavioralism regionalism as a tool of analysis , this article finds that China is a state actor who is more emphasis on manufacturing and trade sectors of consumer goods as a strategy into an economic hegemon in its own region , formerly controlled by Japan

A Dimensão internacional da obra de Celso Furtado

Esse artigo tem como objetivo central considerar a obra do economista brasileiro Celso Furtado como um internacionalista. Através da análise de várias de suas obras, chegamos a conclusão de que questões abordadas por Furtado – a economia política mundial, desenvolvimento e subdesenvolvimento, a dinâmica do capitalismo, a ciência e tecnologia, os investimentos militares, a financeirização e as crises, inclusive a crise ambiental – são temas pertinentes e que tratam da natureza da economia política. A segunda parte do artigo introduz uma reflexão teórica sobre o por que da não existência de teorias não-Ocidentais nas relações internacionais? Para tanto, nos valemos das reflexões de autores, a exemplo de Amitab Acharya, Achille Mbembe, Partha Chaterjee entre outros que, ao lado de Celso Furtado, representam saberes e narrativas de maior diversidade e expressão cultural global.

Trickle-down gender at the International Monetary Fund: the contradictions of “femina economica” in global capitalist governance

ABSTRACT What forms do gender equity arguments take in major international institutions? What broader struggles do these reflect? What contradictions does gender mainstreaming reproduce and what feminist possibilities does it open up? This contribution describes, critiques, and tentatively explains the recent understudied “gender turn” in the International Monetary Fund (IMF) or the Fund, a major international financial institution. The IMF's concern with gender is late compared to other multilateral institutions, like the United Nations and the World Bank. Nonetheless, since 2013, the IMF has published more than 2,900 documents, videos, and podcasts specifically about women, alerting the public to gender equity matters through a dedicated “Gender and IMF” homepage and through Twitter, via the hashtags #Women4Growth and #IMFGender. In so doing, the IMF draws on existing, economistic “women's empowerment” initiatives by major finance and corporate enterprises, in newly opened policy space following the 2008–09 crisis, under unprecedented feminist leadership at the highest level of the Fund. The IMF's attentiveness to gender, pursued alongside market-led economic efficiency aims, produces a new actor, “femina economica.” This elastic figure is symptomatic of tensions within the organization and of broader contradictions in the current, uncertain moment of the capitalist world political economy.

Winners of the Distinguished Achievement Award of World Political Economy of the Twenty-First Century (2019)

Winners of the Distinguished Achievement Award of World Political Economy of the Twenty-First Century (2019)

Nicolas Gueudeville's Enlightenment Utopia

Nicolas Gueudeville's 1715 French translation of Utopia is often dismissed as a “belle infidèle,” an elegant but unfaithful work of translation. Gueudeville does indeed expand the text to nearly twice its original length. But he presents Utopia as a contribution to emergent debates on tolerance, natural religion, and political anthropology, directly addressing the concerns of many early advocates of the ideas we associate with Enlightenment. In this sense, it is not as much an “unfaithful” presentation of More's project as it is an attempt to introduce Utopia to eighteenth-century francophone audiences—readers for whom theses on political economy and natural religion were much more salient than More's own preoccupations with rhetoric and English law. This paper introduces Gueudeville and his oeuvre, paying particular attention to his revisions to Louis-Armand de Lom d'Arce, Baron de Lahontan's 1703 Nouveaux Voyages dans l'Amérique Septentrionale. Published in 1705, Gueudeville's “revised, corrected, & augmented” version of Lahontan's Voyages foregrounds the rational and natural religion of the Huron as well as their constitutive aversion to property, to concepts of “mine” and “yours.” Gueudeville's revised version of Lahontan's Voyages purports to be an anthropological investigation as well as a study of New World political economy; it looks forward, moreover, to his edition of Utopia, framing More's work as a comparable study of political economy and anthropology. Gueudeville, in other words, renders More's Utopia legible to Enlightenment audiences, depicting Utopia not in terms of impossibility and irony but rather as a study of natural religion and attendant forms of political, devotional, and economic life. Gueudeville's edition of Utopia even proved controversial due, in part, to his insistence on the rationality as well as the possibility of Utopia.

Winners of Distinguished Achievement Award of World Political Economy of the 21st Century (2017)

Winners of Distinguished Achievement Award of World Political Economy of the 21st Century (2017)

Chinese Medicine on the Move into Central Europe: A Contribution to the Debate on Correlativity and Decentering STS

Contributing to the ongoing debate on decentering science, technology, and society (STS) from Western contexts, this article elaborates on and reconsiders Wen-yuan Lin and John Law’s proposal for correlative STS (“A Correlative STS” 2014). Like them, we empirically draw on Chinese medicine (CM) and its relation to biomedicine, but we explore the modes by which CM was enacted in the historical, political, and sociomaterial settings of socialist and postsocialist Central Europe. We show that not only specific correlations but also correlativity itself—as the ontological stance of the actors—are situated and can shift. Our argument regarding STS is twofold. First, while Lin and Law argue that STS needs to develop an appropriate mode of betrayal when translating across ontological differences from a source language to a destination language (Western analytics), we show that in our case an ethnographer cannot find any single source language. Consequently, we argue that STS should study actors’ modes and moves of betrayal and their doing ontology as an open process. Second, unlike Lin and Law, who postulate the Chinese mode of international as “subtle” and “minimalist” and an alternative to the Western mode (Lin and Law 2013), we argue that with the rise of China and the changing world political economy, STS needs to be more attentive to dominating expansions that come from non-Western locations as much as from the West.

Making sense of low private returns in MENA: A human capital approach

Several scholars and media outlets have identified the low rate of return to education in the Arab World as a root cause of unrest and upheaval (Fargues, 2011; Adams and Winthrop, 2011; Rhoads and Liu, 2009; Shafiq and Vignoles, 2015). Yet, a close inspection of extant literature reveals that there is a limited theoretical or practical understanding of why returns in the region are so low. This paper aims to begin filling that void by empirically examining the relationship between four salient features of Arab World political economy and returns to education. My findings are not causal, nor are they exhaustive or conclusive. Rather, they are suggestive, and hopefully intriguing. It is my hope that this analysis might serve as a roadmap to those who might drill down into an understudied regional issue with global consequences.