Question

Discuss at least 2 theories of international political economy

in your answer.
China is the world's second-largest economy, and its economy continues to grow strongly. Some argue that "with the rise of China and the relative decline of the United States, the international system will become less stable and peaceful." Do you agree with this statement?

Answer 1

Two theories of international political economy are liberalism and realism. The statement about China's rise and the decline of the United States leading to less stability and peace can be understood from both perspectives.

Step-by-step explanation:

International political economy encompasses different theories that analyze the relationship between politics and economics in the global arena. Two prominent theories in this field include liberalism and realism.

Liberalism emphasizes cooperation and interdependence among states. It argues that economic integration, such as trade and investment, fosters stability and peace. In the context of China's rise, proponents of this theory may argue that as the Chinese economy grows and becomes more interconnected with other countries, it will promote stability and peaceful relations.

Realism focuses on power dynamics and self-interest among states. It suggests that the rise of a new economic power like China could disrupt the existing balance of power, leading to instability and potential conflict. Realists may contend that China's growing economic influence could challenge the dominance of the United States, potentially leading to a less stable and peaceful international system.

As for whether one agrees with the statement, it depends on their interpretation of these theories and assessment of the current global context.