This chapter examines the transformation of the international political economy from the middle of the 20th century into a global political economy in the first decade and a half of the 21st century. The first section examines the period 1945–89 when international relations were marked by Cold War divisions and distinct political economies. The second section highlights developments that have taken on increasing significance since the end of the Cold War. These include competing capitalisms and state transformation, the information revolution, and developments in international organization and global governance. It is common to refer to the Cold War system of 1945–89 as being composed of three worlds. The First World comprised the US and its allies in western Europe, Canada, Australia, New Zealand and later Japan. The Second World comprised the communist states of Eastern Europe and the Soviet Union.
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- Growing a Global Economy: 1945–2015
- Macmillan Education UK
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- Chapter 5