China's Role in the Global Political Economy

What is the Global Political Economy? According to O’Brien & Williams (2010) this is a term used to describe the interrelationship between national and international, politics and economics. It basically shows the interplay of powerful states, regions, and global institutions which fall under the realm of politics with global trade, global finance, investing and capital movements comprising economics. This ideology does not look at politics and economics in isolation but it draws from other fields such as geography, sociology, women studies and history as these disciplines play an important role in explaining how politics and economics interrelate (O'Brien & Wlilliams, 2010). Nevertheless, the question is where China stands within this global political economy. Hobden (2008) stated that “China is awakening from a slumber that has lasted half a millennium” he believed that in the past China was not considered as one of those countries that actively played a role in global affairs, however; over the last two decades this has all changed. Although this essay will be drawing from examples of China, showcasing its emergence as one of the fastest growing economies in this global atmosphere; its main aim is to evaluate the merits and demerits of two important ideologies in the study of the international political economy, that of Economic Nationalism and Liberalism.

Ultimately this essay will be discussing areas of wealth, power, poverty and who gets what in the international economic and political system under two vastly different, however in some ways interrelated, perspectives (Burnell & Randall, 2008). Firstly, what is economic nationalism? This ideology focuses in the roles of the state specifically its hierarchical role in shapin...

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