Chapter 1 IPE notes
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Date Created: 01/22/15
E Chapter 1 Notes 1 What is IPE IPE is concerned with the interaction between the state a sovereign territorial unit and the market a mechanism where buyers and sellers exchange goods and services at prices determined by supply and demand CUSFTA CanadaUS free trade agreement in 1988 established an open market between Canada and US many Canadians saw this as a threat to their national sovereignty in energy foreign investment and cultural industries NAFTA North American Free Trade Agreement replaced CUSFTA in 1994 this led to Mexicans being concerned on issues of sovereignty in energy and agriculture many American s feared that NAFTA would limit their control over employment and the environment 2 The IPE Theoretical Perspectives 0 IPE emerged in the 1970 s the three main components to IPE were realism Aka Economic Nationalism liberalism and Marxism IPE theorist tend to view them as separate ideologies Realists tend to view IR International Relations as a self help system and they see IR as a zero sum game in which one states gain is another one s lost Liberalism the most important IPE perspective they are more optimistic about the prospects for cooperation among states and they believe that international institutions promotes cooperation While realists see IR as a zero sum game liberalists see it as a positive sum game where all states benefit but not equally 3 The first theme of this book is Globalization Globalization involves the broadening and deepening of interdependence between states and people 4 Different Definitions of Globalization 0 Hyper globalist believe that globalization involves the creation of a borderless world in which MNC S Multinational Corporations lose their national identities and regional and economic markets replace national economies 0 Internationalists recognize the interdependence and non state actors have a role in IPE they believe that the world is no more global than it was in the 19th century 0 Moderate Globalists believe that global linkages in finance trade investment and communications have existed in the past but they now occur more frequently intensely and on a wider scale 1 North North relations Second theme of this book and its relations with the economically developed countries in the north The DC s in the Western Europe North America and Japan are the only group of states with wealth to be able to look after international management of the global economy The USS was the leader or Hegemon in early post world war II when it came to economic and military power The way one can measure economic power is Gross Domestic Product GDP GDP the total value of goods and services produced within a countries borders during a given year During the 1960 s the US relative economic position in relation to other DC S began to decline as Western Europe and japan recovered from the war The United States went from having annual balance of trade surpluses to having balance of trade deficit imports greater than exports this led to a loss in confidence of the US dollar In 2004 the US Accounted for 25 of world GDP 2 North South Relations the south includes Latin America Caribbean Asia Oceania and Africa and the Middle east These countries are mostly Low developed countries which usually means lower per capita incomes inadequate infrastructure limited access to modern technology etc 0 NIE Newly Industrialized Economies east Asian NIE S South Korea Taiwan Singapore and Hong Kong 0 Transition Economies BRIC Brazil Russia India China
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