By Outlining the Current Global Political Economy, Discuss...

TABLE OF CONTENT EXPLANATION AND DEFINITION OF TERMS 03 INTRODUCTION 04 HISTORICAL CONTEXT OF GLOBALIZATION 05 †¢ THE CURRENT GLOBAL POLITICAL ECONOMY 06 IMPACT OF GLOBALIZATION ON THE NATIONAL DEVELOPEMENT IN THE SOUTH 07 †¢ IMPERIALISM AND GLOBALIZATION 08 †¢ SOCIAL AND CULTURAL IMPACT 07 †¢ POLITICAL AND ECONOMICAL IMPACT 07 CONCLUSION 09 BIBLIOGRAPHY 10 EXPLANATION AND DEFINITION OF TERMS Political Economy Political economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and†¦show more content†¦I am tasked in this paper to give the main features of the Global Political Economy, its implications and effects on the national development in the South. The South, in this case, is being defined as the third world . Many scholars, opinion leaders and political analysts etc. have expressed divergent and dissenting views regarding the effects of globalization on individuals, nations and the world at large. While globalization is a highly contested concept, it is widely viewed to involve a process of rapid intensification of economic, political, and cultural interconnectedness among the different actors and geographic areas in the global system. The current global political economic situation is a good lens for thinking about the Souths place in the world. Linden’s views in the new map of the world states:†The growing power of the multinational corporations (MNCs) was and is acknowledged as the most obvious force building a new globalising economy. Defined simply as corporations controlling assets –factories, mines, marketing offices – in more than two countries, MNCs are major bearers of the ‘soft power’ that is shaping the structures of a new world† (Linden:2003). 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