China and the International Political Economy Essay

INTRODUCTION In depicting the International Political Economy, Susan Strange, 1988 in her work â€Å"States and Markets† portrays it as a concern of social, political and economic arrangements that affect global systems of production, exchange and distribution and the mix of values reflected therein. International Political Economy is defined as the interplay of economics and politics in world affairs. A dynamic and pivotal force within the global political economy which shows a definite interplay between politics and economics is the country of China; a country whose political system is primarily that of a communist state. Although this is so and has some hardnosed ruling, China has been able to be an example of a country whose has the†¦show more content†¦BODY More so known and the People’s Republic of China, was once a complete an individualized country and has come a long way in its political structure from a solely communist state to one which places itself as a major competitor in the global market to one that can be called a merging of both an industrialized, free market, communist state. With its main focus on the production of goods and services and import export transactions with the world, China from the dynasties of Mao (1950’s) to its present ruling of state by President Hu Jinato plays an intricate part in the development of its country as well as increasing trading practices with the rest of the world. Even in its communist regime China has been able to make a name for itself as it is seen as state for which many countries would like to conduct business with. One can also make mention as the years have gone by that at present China is ranked as the second most influential trading state, second only to the United States of America (Williams, Kesselman and Krieger, 2010 pg 71). China can be classified as a more market-oriented economy primarily having its focus on manufacturing and production and has also had an increase in foreign direct investment. With reference to FDI, not only major states have welcomed China to their ports but small countries such asShow MoreRelatedThe World Economic Crisis Of 20081701 Words   |  7 Pagesrecession of 1929-30. The most affected economies from the crisis are western European countries. The economic crisis sub sequentially lowers the growth rate of the economies. A large number of American companies incurred heavy losses and it declines in the gross domestic product widely known as GDP of the country. China plays a significant role during the economic crises (Lardy Subramanian, 2012). 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