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Theories of Global Political Economy
Theories of global political economy
Introduction

Globalization presents us with a wealth of information about the global system. Yet, without theoretical guidance, it is difficult to know where to begin our analysis and where to end. Consider the following pieces of information. Trade is very high as a proportion of gross domestic product (GDP) and it has been growing, though not nearly as fast as capital mobility across borders. From 1980 to 2003, the stock of foreign direct investment (investment in physical plant, machinery, factories, etc.) as a share of GDP increased 240 per cent (Guillen, 2006, cited in Alcacer and Ingram, 2008: 3). While these figures just catch up to or marginally surpass the levels achieved in 1914, the comparison is ...

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