Confronting the coming five decades from our present conjuncture demands – to paraphrase Antonio Gramsci’s famous mantra – both critical pessimism and a wilful politics of hope. In this article, we engage with the politics of climate breakdown and the responses to wider socio-ecological crises with a necessary critical pessimism. Specifically, we confront the capture of green transition imperatives by finance capital, as well as the troubling orientation of transition towards building new structures of accumulation around the vision of an electrified consumer society. We also see the coming decades being marked by the ever-increasing wealth of global asset-owning classes – who, by definition, enclose the atmospheric commons faster than any other community. Against this dystopian picture of increasingly concentrated wealth, corporate excess, and terrestrial crisis, we focus on the stubborn reproduction of socio-ecological life through various grounded projects across the world. We engage with communities who work against structural constraints to reproduce life from below through urban commoning, food sovereignty, Indigenous organising, and caretaking economies – all of which are scaling out their visions through alternative internationals. All of these projects, we argue, present a planetary and multiscalar political economy in practice, which connects grounded experience with resistance to the dynamics of capitalism at the state, corporate, and transnational levels. With lessons from these communities in mind, we call for a ‘planetary political economy of the global majority’, which prioritises the reproduction of socio-ecological life according to the visions of grounded anti-systemic projects.

Why do firms demand antidumping protectionism? Contemporary literature highlights a plethora of causal mechanisms within the data-generating process, including retaliatory motives, exchange rate appreciations, business cycles, and deindustrialization. I argue that countries that are economically integrated into global markets should be associated with less demand for antidumping trade remedies. In particular, countries with higher levels of trade and financial flows should receive fewer petitions for antidumping trade remedies from firms overall, ceteris paribus. I test this theoretical argument with a series of de facto globalization indicators collected from thirty-three countries between 1978 and 2022, finding support for these arguments.

This article assesses the initial contacts between the People’s Republic of China (PRC) and the World Bank during the early 1980s, following China’s admission to the institution in 1980. In the late 1970s, the PRC launched a new phase of economic reforms aimed at re-modelling its economic outlook. Collaboration with multilateral economic institutions such as the World Bank was a key part of its “opening up” strategy. By drawing on newly available records from World Bank archives, the article reveals how the Bank’s approach to China's economic development was tailored to meet Beijing’s specific economic conditions and needs, and welcomed gradualism as the best path for China's reform strategy. At times of free market triumphalism and heavy structural adjustment towards developing countries, the China case, the article stresses, shows a World Bank behaving not quite in line with what many would expect. Therefore, the article provides not only an account of a bilateral relationship but offers a new perspective and reflection of the history of the international political economy of the early 1980s.

What happens to a public, domestic institution when its authority is delegated to a privately run, transnational institution? I argue that outsourcing traditionally national legal responsibilities to transnational bodies can lead to the stagnation of domestic institutional capacity. I examine this through a study of international commercial arbitration (ICA), a widely used system of cross-border commercial dispute resolution. I argue that ICA provides commercial actors an “exit option” from weak public institutions, reducing pressure on the state to invest in capacity-enhancing reform. I find that the enactment of strong protections for ICA leads to the gradual erosion of the capacity of domestic legal institutions, particularly in countries with already weak legal systems. I test the mechanism driving this dynamic using dispute data from the International Chamber of Commerce. I find that pro-arbitration laws increase the use of international arbitration by national firms, suggesting that firms use ICA as an escape from domestic institutions. This article contributes to debates on globalization and development as well as work on the second-order effects of global governance institutions.

Japan has long strived to acquire a more influential voice in trade negotiations but failed because of the lack of decisiveness rooted in the resistance from those who have vested interests. However, a series of domestic reforms undertaken since the 1990s have made it possible for Japan to play a leadership role in the new rulemaking of international trade. After the Trump administration withdrew the United States from the Trans-Pacific Partnership, Japan took the initiative to conclude a new agreement called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. How have domestic factors pushed Japan to step up as a new leader in the rulemaking of international trade? How have the economic rise of China and the relative decline of US hegemonic power impacted Japanese domestic politics and economics? What implications do Japan's new roles have for the security and prosperity of the Asia-Pacific region? By exploring empirical evidence drawn from five new books, we argue that the commitment to domestic economic reforms has enabled Japan to play a leadership role in the rulemaking of the international economic order.

How does trade openness affect individuals’ social policy preferences in emerging markets? Drawing upon the theories of economic openness, risk, and social policy preference, we examine how trade openness and job sectors jointly shape preferences on social protection in China, the largest emerging market. Using the World Value Survey (WVS) Wave VI and archival macroeconomic indicators in 2012, we find that trade openness is associated with higher demands for government responsibility in social protection. We also find, compared with public-sector employees, private-sector employees exhibit lower levels of support to the role of government in social protection. The public–private divide in policy preferences, nevertheless, diminishes in regions with high levels of trade openness. This research provides new evidence to the risk-model of social policy preferences in the Chinese context. It also highlights the importance of considering the significant differences between public and private-sector employees in their social policy preferences.

Exploring if/how lobbying patterns differ by political regime, this paper uses data from the World Bank's Enterprise Surveys with about 29,000 firms across 83 country/years to test the hypothesis that this political activity should be greater in democracies. Considering a variety of democracy indicators and different lobbying measures, it finds strong support for this expected positive relationship. It then employs these data to consider the trade and currency policy preferences of firms within the special interest channel, comparing democracies with non-democracies. These results show a greater percentage of exporting firms, a lesser percentage of import-competing firms, and a greater percentage of non-tradable firms within the democratic special interest channel, helping to build a lobbying-based explanation for why democracies tend to have more open trade policies and more flexible exchange rate regimes.

This article asks whether there is a discrepancy between the field of International Political Economy (IPE) as we know it from recent debates about its role, distinctiveness, and contribution compared to the experience of its practitioners on the ground? Intellectually IPE is needed more than ever to engage real world events but faces constraining institutional imperatives. We have two interrelated objectives related to this: (1) to assess the extent to which the patterns in recent interventions are replicated when you ask those who self-identify as IPE scholars in the UK (2) to appraise survey data on the reproduction of a particular community of practice within the field as it evolves intellectually and institutionally. Rather than imposing our interpretation of IPE through publications, citation practices, conference attendance, or textbook content we offer two distinct contributions. First, to report new empirical data on IPE as a ‘field of inquiry’ in UK universities; and, second, to develop a critical intervention on the indisciplined nature of IPE as a field of inquiry in the UK. We conclude that the widely acknowledged and long-standing fertile intellectual advantages of IPE's ‘open range’, unlimited intellectual borders and transgressive enquiry bring institutional disadvantages with them.

Many, especially low-skilled workers, blame globalization for their economic woes. Robots and machines, which have led to job market polarization, rising income inequality, and labor displacement, are often viewed much more forgivingly. This paper argues that citizens have a tendency to misattribute blame for economic dislocations toward immigrants and workers abroad, while discounting the effects of technology. Using the 2016 American National Elections Studies, a nationally representative survey, I show that workers facing higher risks of automation are more likely to oppose free trade agreements and favor immigration restrictions, even controlling for standard explanations for these attitudes. Although pocket-book concerns do influence attitudes toward globalization, this study calls into question the standard assumption that individuals understand and can correctly identify the sources of their economic anxieties. Accelerated automation may have intensified attempts to resist globalization.

Do world politics affect the adoption of new technology? States overwhelmingly rely on technology invented abroad, and their differential intensity of technology use accounts for many of their differences in economic development. Much of the literature on technology adoption focuses on domestic conditions. The authors argue instead that the structure of the international system is critical because it affects the level of competition among states, which in turn affects leaders’ willingness to enact policies that speed technology adoption. Countries adopt new technology as they seek to avoid being vulnerable to attack or coercion by other countries. By systematically examining states’ adoption of technology over the past two hundred years, the authors find that countries adopt new technologies faster when the international system is less concentrated, that changes in systemic concentration have a temporally causal effect on technology adoption, and that government policies to promote technology adoption are related to concerns about rising international competition. A competitive international system is an important incentive for technological change and may underlie global technology waves.

Disciplinary debates within IPE often leave as an open question how contemporary scholars may build on and incorporate insights from its rich intellectual history. In this article I examine the work of three scholars who are rarely grouped together, but who should be recognised today as engaged in an IPE-inflected debate: Karl Polanyi, E. H. Carr, and David Mitrany. They advanced distinct IPE-centred ways of framing the central problems of the post-1945 world, which are remarkable for how they prefigure important themes in modern IPE scholarship. By assembling and considering their work collectively, I make two arguments: (1) we should recognise their contributions as a precursor to modern IPE; and (2) their work, with certain caveats, provides valuable intellectual resources for contemporary scholars. Their combined work should be considered as part of the common heritage of IPE.

This article asks how costly targeted trade sanctions imposed by the US government are for domestic firms. I argue that, as a result of sanctions, the firm value of US companies that have supply relationships with sanctioned entities is likely to suffer from lost revenue, reputational damage, and business model uncertainty. I test this expectation by applying an event study to the important case of targeted trade sanctions against Chinese technology companies. I find that sanctions against these companies reduced their US suppliers’ risk-adjusted stock returns by 220 basis points. Firm-level cross-sectional analysis shows that businesses with stronger ties to the sanctioned entities are more negatively affected, which supports the direct connection between sanctions and relevant suppliers. Measuring the domestic economic ramifications of sanctions for the sender country has been elusive. These findings, which are statistically and economically significant, indicate that US companies face notable costs from sanctions against internationally active firms.

Multinational firms operate in multiple national jurisdictions, making them difficult for any one government to regulate. For this reason the firms themselves are often in charge of their own regulation, increasingly in conjunction with international organizations by way of public-private governance initiatives. Prior research has claimed that such initiatives are too weak to meaningfully change firms’ behavior. Can public-private governance initiatives help firms self-regulate, even if they lack strong monitoring or enforcement mechanisms? I take two steps toward answering this question. First, I introduce a new measure of firms’ performance on ESG (environmental, social, and governance) issues: the extent to which the firms issue public responses to claims of misconduct from civil society actors. Second, I argue that public-private governance initiatives allow firms to benefit from the legitimacy of their public partners, lowering the reputational cost of transparent response. Employing novel data on firm responses to human rights allegations from the Business and Human Rights Resource Center, I find that membership in the largest and most prominent initiative, the United Nations Global Compact, significantly increases firms’ propensity to respond transparently to stakeholder allegations. These results suggest a limited but important role for public-private initiatives in global governance.