World Politics, sometimes referred to as world diplomacy, refers to both the field which studies the political relationships of the world and the political economic processes that influence global politics. At the heart of this field are the various processes of global politics in reference to issues of global social equity. World Politics covers an array of arenas that include world leadership, international trade, environmental issues, arms control, human rights, security, diplomacy, and political Islam. In addition, world politics also encompasses the politics of the United States, Russia, China, Europe, Japan, South Korea, and oil-rich Middle East.
It is in this context that World Politics is defined in the context of international economic relations. There have been three broad theories on world politics, which predominate in the social science research on world politics. The first of these is the classical theory. In this perspective, world politics is grounded on the concepts of international economic law and the rivalry among powerful states for regional, as well as for global, influence and power. This second theory, realism, maintains that the process of globalization leads to the emergence of multipolarity, wherein multiple powers struggle for influence and power.
The third theory, liberalism, describes the underlying principles of pluralistic liberal global governance, pluralistic international relations, international solidarity, international bargaining, and freedom. All these theories view world politics through the lenses of liberal international economic theory. While they draw their analogies from classical liberal political economy, they also draw on other relevant traditions. For instance, one can compare Machiavellian national egoism with liberal international relations and socialism with classical liberalism. However, there is a vast difference between what some refer to as liberal and socialist revolution.
The study of world politics therefore, seeks to explain the political economy of globalization, its effects on nations, and its effect on the world’s population. In doing so, it attempts to understand the complex phenomenon of globalization and what role the United States and other developed nations have in facilitating the rise of multi-polarity political systems. It thus tries to shed light on the issues of international relations, the evolution of international trade and its relation to the larger political and socio-economic structures of the countries involved. In this light, we can also try to understand the complex relationship between world politics and the nature of international economics, and how they interact and interrelate.
The other important area of study is that of the relationship between the developed nations and the developing countries. Since the globalization phenomenon has opened up a new opportunity for the developing world to industrialize and pursue economic growth, this has posed some problems at the forefront of world politics. One such problem is the question of jurisdiction over international organizations, which are primarily governed by domestic political processes. It is in the context of such issues that the study of political science becomes important.
The study of world politics thus requires us to be conversant with the various theories that are relevant to this domain. Among many such theories that have been very useful in the study of world politics is the notion of nation-state. According to this idea, nations are entities that are organic extensions of statehood. A nation-state is also identified as a political community that may not have a common political identity. Nationstates thus allow for the emergence of coalitions among nations, where there was none before. It has also been postulated that such a model of organization is a significant force in bringing about the changes in the course of world politics.