The modern world economy is not governed by markets alone. It is shaped by political power, institutional rules, and strategic competition between states. ⭐ While globalization has not ended, it has entered a new phase in which economic interdependence is increasingly weaponized, supply chains are reorganized for security, and the global system is fragmenting into rival blocs while remaining deeply interconnected. Understanding today’s world economy, therefore, requires analyzing not only trade and production, but also power, geopolitics, institutions, and domestic political conflict. [1][2]