Defining feature of the international political economy

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Reference no: EM133784468

Assignment:

Global value chains (GVCs) and global production networks (GPNs) have been the defining feature of the international political economy since the 1980s and 1990s, which witnessed widespread trade liberalisation and rapid technological advancements that lowered transportation and distribution costs. However, recent geo-economic and geopolitical events have altered the dynamics and evolution of GVCs/GPNs. Moreover, these value chain networks are also facing unprecedented challenges at the domestic level. All these have led some analysts and scholars to hypothesise a "deglobalised" world.

(a) Reflecting on the international political economy at current times, critically inspect how and to what extent GVCs/GPNs are on the retreat. Importantly, justify your analysis with examples drawn from current affairs. Your answer should address the following prompts:

i. What is the state of the international political economy today?

ii. Provide five (5) reasonings on how and to what extent GVCs/GPNs are on the retreat. Be as evaluative and specific as possible.

iii. What are the implications for Asia? Discuss three (3) consequences.

b. Given the evolving dynamics of GVCs/GPNs at current times, what function does the nation-state play in ensuring value chain resilience? Critically analyse five (5) key roles or functions with examples drawn from Asia.

Reference no: EM133784468

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