Global politics, sometimes also called world politics or world civilization, refers to both the field which studies the political and economical patterns of the world as a whole and the inter-related field of politics which arise out of this study. Within this complex field of politics, there are the myriad processes of political globalization as a result of historical and socio-economic factors. The emergence of democratic societies from the beginning of the Industrial Revolution in the nineteenth century, the opening up of China and the Soviet Union to the West, the downfall of Imperial Japan and the post-World War II World economy have all helped to change the course of world politics. Today, this complex field of politics has produced leaders from all over the world, each with unique political strategies and interests.
Comparative political economy tries to give equal weight to the contributions of different countries to the development of the world economy. Thereby it attempts to underline the notion of world politics as a system of values which is based on cooperation and mutual interest rather than the race to dominate the entire world. Comparative political economy attempts to give equal weight to the contributions of different countries to the development of the world economy.
Comparative political economy traces its origins to the early nineties when the concept of globalisation and the belief in the liberalization of the economy took shape. Since then the conception of world politics and economics has evolved and taken many twists and turns. With the coming of the Bretton Woods system in the early nineteen eighties, international trade became possible and political organizations were able to make more room for the flourishing of economic diplomacy.
A new theory of global politics and international economic relations was developed by Richard Kaunitz in the early nineties. This concept is characterized by the rejection of absolute rights and privileges and by the emphasizing of sovereign nation states over other suzerainty nations. This idea of world politics is different from the traditional ideologies of world politics in that there is no inherent territoriality or monopoly on the attainment of political power. The underlying principle is that each state has the right to defend its sovereign capacity and rights in terms of the maintenance of its system of government, as is required by the security of its statehood and as is required by its membership in various international organizations. The principle of world politics and international economics does not advocate or insist on the exclusive ownership of the political systems of other states.
The other important development in the history of world politics and foreign policies is the growth of multilateralism, characterized by the efforts of member states of the World Trade Organization to pool economic resources in order to reduce trade barriers and increase trade liberalization. In other words, by negotiating with one another for the reduction of trade barriers, the members of the World Trade Organization are able to ensure that their respective domestic policies do not affect the overall performance of the global system. However, this does not mean that other aspects of world politics and international relations have been neglected. Throughout the history of world politics and international relations, the other important development has been the evolution of diplomacy. Today, when it comes to the art of diplomacy, many people believe that it is at the service of world politics and the international economy that the best education, the best techniques, and the most effective approaches are learned.
No matter how these aspects of world politics and international relations have developed throughout time, there is no doubt that they are present today. World politics and international relations are deeply interwoven with economic interests, and they are present in all dimensions of the world politics. The interaction between world politics and international economics has created a dynamic process whereby one ends up affecting the other. The existence and development of world politics and international relations have made possible the emergence of different international institutions, such as the World Trade Organization and the World Tradeatories. At the same time, the development of these institutions has led to the liberalization of the international system and has allowed political leaders and politicians to come together to solve major problems, such as those relating to the global fight against poverty, terrorism, and drugs.