Globalization: Development of International Political economy & emerging Economic Giants (BRIC & SANE)

• Main Author: Upasana Giri
• Format: Article
• Language: English
• Published: Srusti Academy of Management 2012-06-01
• Series: Srusti Management Review
• Subjects: globalization; regionalism; economic blocs; eras of globalization
• Online Access: http://www.srustimanagementreview.ac.in/paperfile/862825073_Globalization%20Development%20of%20International%20Political-Upasana%20Giri-Vol.%20-%20V%20%20%20Issue%20I%20%20%20Jan%202012.pdf

This paper deals with radical changes happening worldwide to bring developments in international trade. Major eras of globalization led to the generation of complex interdependence and integration of world economies. The emergence of International Political Economy (IPE) as a major subfield of study international trade relations. Major economies are classified as economic or trade Blocs in order to bring up new reforms in the trade affairs. Regionalism and Protectionism are tool drivers to boost up the developments in trade associations. Every country has to develop its comparative advantage in its products and trade them with other members. Trade unions and economic blocs foresee strategic approach to the challenges and opportunities era of globalization. Out of BRIC nations India & China are emerged as Economic Giants and market leaders.