Global Political Economy: Approaches, Causes of Globalization, Development Prerequisites, and More

GPE 1
Global Political Economy

GPE 2
Table of Contents
Introduction......................................................................................................................................3
Question 1: Global, Political, and Economy approaches................................................................4
Question 2: Causes of Globalization...............................................................................................5
Question 3: Important Prerequisites for Development....................................................................6
Question 4: Role of Global Trade in illustrating tensions between national political structures and
international economy.....................................................................................................................7
Question 5: Relationship between borders and regions...................................................................8
Question 6: Reasons of Lack of Efforts for Overcoming Gender Bias...........................................9
Question 7: Reconciliation of Tensions between Economic Growth and Environmentalism.......10
Question 8: Cause of the 'Resource Curse' in Australia................................................................11
Question 9: Impact of NGO/GSM on GPE...................................................................................11
Question 10: Justification about Hegemon towards stability of IFS.............................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14

GPE 3
Introduction
This report is designed for developing understanding about different concepts related to global
political economy. It is helpful to understand the approaches to global political economy. Further
the report emphasizes on discussion over reasons of globalization. Different concepts being
included in this report for discussion are perquisites of development, assessment of tensions
between national political structure and international economy, the relationship between regions
and borders etc. In addition to this, the report provides ways that can be used to mitigate the
tensions between economic growth and environmentalism. Final section of this report facilitates
knowledge about causes of economic and political resource curse, and the relevance of a
hegemon for the attainment of a stable international financial system.

GPE 4
Question 1: Global, Political, and Economy approaches
In Australia, Global Political and Economy (GPE) is characterised by level of growth, innovation
and transformation. The three basic approaches to Australian GPE in the current era are
Marxism, Realism and Liberalism, which assist the government in national integration and
cooperation. According to Marxism approach, class struggles take place at the global level and
include competition for colonial territories (Hodge, 2018). It considers the relationships with
capitalists being exploitative. It sees transitional corporations as the way of exploiting the
working class due to the concentration and centralization of power and capital. It becomes the
main feature of monarchy in Australia.
Another GPE approach used in Australia is Realism which considers world polity as a ‘scuffle
between states for self-interest and power’. Under this approach of global revolution, the
government rules out the territories and the public. Realism makes the achievement of economic
power as a source to dominate the political area or region and to set the roles of international
institutions.
Third approach to GPE is Liberalism which is associated with different economic and political
actors in Australia from an individual to specific interest groups, enterprises and corporations.
This approach is applied in Australia to incorporate individual needs and ideas for the benefit of
all. Hence, through liberalism, the Australian government evaluates the states’ actions and design
economic policies accordingly. It becomes different from Marxism and Realism by increasing
the value of the global relations and autonomous bodies within the international framework.