The Importance Role of IPE Towards Dinamic Change of Global Economy

on Region Perspective

Introductions

In historical development, it turns out that the philosophies that underlie the economic concepts
of penance change. Development occurs New concepts replace old concepts because they often
go through a long transition period. On the one hand, this is due to by the orientation of people's
lives that are changing and on the other hand it is reinforced by new challenges and opportunities
that arise in society, which give rise to several concepts of economic development globally.
Developed countries and countries develop in the face of various forms of economic
development. This fact can be seen in the field of domestic, regional and international trade. The
global economic crisis that occurred a while ago, indeed really degrading the climate economy in
this universe.

Liberalization in the political economy sphere refers to democracy, or the promotion of regular
and genuine elections, constitutional constraints on the use of governmental authority, and
respect for fundamental civil liberties, such as freedom of expression and conscience. In the
context of economics, liberalization refers to marketization or a shift toward a market-oriented
economic model that includes policies aimed at limiting government intervention in the economy
and maximizing the freedom of individual investors, producers, and consumers to pursue their
own economic goals. Although the fourteen peacebuilding operations conducted between 1989
and 1999 differed in many ways, the most obvious similarity was that they all intended to
quickly transform war-torn countries into liberal market democracies.

The operations were designed and carried out in the hope and expectation that democratization
would shift societal conflict away from the battlefield and into the peaceful arena of electoral
politics, thus replacing the breaking of heads with the counting of heads, and that marketization
would promote a long-term economic process that would help to reduce tensions. In this way,
peacebuilding is a form of engineering that is based on a set of assumptions about how to
achieve long-term domestic peace. Peacebuilders evidently felt that democracy and
marketization would promote internal peace, and this notion is partially supported by a large
amount of empirical research. Promoting democratization and marketization has the potential to
increase societal competitiveness at a time when states are least prepared to keep such tensions
within peaceful bounds.

Analysis

By marking the meaning of the existence of a globalization which is also very influential on the
global economy and international business, it will have an interesting discussion as well as
regarding the quality of a product, the efficiency of the operational process to make it a
competition in the current world economy and market. this. In the previous era of economics, we
can understand that one aspect of the economy is to have something that has value, such as
natural resources, islands, goods, to currency values, making the value in the economy relevant
and an asset in running a business.

Even though there are many definitions globalization, but this concept is more right to be
interpreted as growth in economic activity cross the political boundaries of the country or region.
Globalization is a the process that puts the world community can reach each other or each other
connected in all aspects their life, both in culture, economy, politics, technology and the
environment (Winarno, 2006: 39). The globalization of trade is caused by the tremendous
increase in global trade activity then cause each other dependency of parts global economy.
Economically This development is caused by there is a tendency to specialize strong competition
between companies or between countries, as well as progress in transportation and
communication lately. For a country, The result of this symptom is growing dependency of the
country's economy to trading activity.

The presence of globalized economic business and international competition, consumer demand
for more critical, high-quality products, short waiting times, intense business competition,
increased technological capabilities, and shorter product life cycles characterize the development
of the world economy at this time. In summary, businesses must create a technologically driven
business environment. If the previous economy was heavily reliant on resources such as land,
natural resources, equipment, and money to create value, the millennial economy is heavily
reliant on information, which has greater value than physical assets for the business. A concrete
example that we face today is the COVID-19 Plague that has a wide-ranging impact on the
Global economy. Some international business companies from abroad experienced a decrease in
income, so they took steps to reduce the level of risk by reducing the number of workers and
reducing salaries that should be paid normally. This is precisely a severe blow to the
International Business people both from the top to bottom level. Then what is the right solution
to deal with this unexpected factor in terms of the risks faced at the present time. There is a
restriction on the existing population with its implementation in the field and it aims to
quarantine so that the virus does not spread widely so as to make anything change that affects all
aspects, especially in the business aspect and also the market because at the beginning of the
pandemic everyone is obliged and It is recommended not to do many activities outside the home.

Lockouts in China have started to affect production and supply chains in areas such as
automotive, travel & tourism, health, high-tech manufacturing, and retail. The car sector was
completely destroyed. Hubei Province, which is in the epicenter of the outbreak, is one of
China's five major automotive manufacturing regions, accounting for approximately 9% of the
country's total vehicle production. It's also a hub for auto component production and domestic
and international vehicle manufacturers. The global automotive supply chain has grown as a
result of factory closures.
With stock levels rapidly depleting, a global shortage of auto parts is on the horizon, which will
have an impact on production numbers in 2020. Recommends deferring the purchase of the
desired smartphone this year since plant closures disrupt the supply chain, causing delays in the
launch of new goods and a reduction in production in the high-tech manufacturing sector. It is
not a good time to be in the travel and tourist industry right now. Airlines, hoteliers, tour
operators, restaurant owners and transportation service providers have all been devastated as a
result of travel restrictions on the busy Chinese sector. Countries that depend on tourism such as
Thailand and Malaysia are also struggling economically because fearful tourists decide not to go.
While the aviation industry suffered a crushing blow, the private business jet aviation industry
saw growth because the rich and rich used their jets for business trips and also to exclude top
executives and important products from China.

Conclusion

Changes in the global market economy have made it possible for this to be influenced by the
liberalization process and also the political aspects of the world economy. Of course, it is not
impossible that it will cause several potential problems and regional conflicts that result in
regional disharmony as a result of problems from the growing global economy. Then, on the
basic aspect, there will be institutions that regulate and give authority to the growing global
market in the future. This is one of the things that we can understand that the International
Political Economy is very broad and its scope can focus on certain aspects such as regional
developments in the world economy. Globalization also from an economic perspective is a
process that puts the world community can reach one with another other or connected to each
other in all aspects of their life, good in culture, economics, politics, technology and the
environment. Economic globalization has poses new challenges for the national economy,
namely the more strong competition.

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