In understanding the context of the contemporary global political economy, it can be analysed that competition between countries in a complex structure has led to changes in the dynamics of certain events. However, the model adopted by many countries in achieving their national interests cannot be separated from the historical context and background as well as the main goal of the existence of a nation-state. It can also be observed from the changes of Central European civilization particularly in the political-economic and security structure in 1648 within the framework of the Westphalian peace treaties.

In the course of international politics, competition between countries remains visible. It is not only involving military power expansion (high politics) but also engaging in economic and trade (low politics) expansion through the transnational corporation's model. Several approaches within the framework of the analysis in International Relations disciplines such as Realism and Neo-realism as well as Liberalism and Neo-liberalism perspectives have often been employed as mainstream theories that are considered capable of explaining behaviour between countries in achieving their goals. More practical and critical approaches are certainly needed to open up new academic discourses that can function as analytical tools in providing explanations and alternative policy recommendations that can contribute to the realization of perpetual peace.

Perceptions and approaches of modern great powers tend to be more unilateralistic and expansionist. World War I, World War II and the Cold War have proven that the construction of international relations is considered egoistic and pragmatic. The political-economic ideology and the desire for hegemony (military and economic interests) are often laid as the main reasons for war. The competition not only involved great power competition but also impacted middle and lower power countries in specific regions. Debates often occur among scholars and experts in analysing state behaviour, especially to examine the foreign policy model from institutional to individual analysis frameworks.

In addition, the shift in the security paradigm which has changed to a non-traditional direction such as issues of terrorism, economic crises, environmental degradation, health problems, human security, and others that occur in the global environment have also brought threats to each country. However, addressing these non-traditional security issues, it requires collaboration and cooperation between countries in a bilateral or multilateral fabrication. For this reason, the framework for regional and global cooperation that is carried out through multilateral organizations such as the United Nations, European Union, ASEAN, etc, and others need to be more relevant in responding to the existing challenges.

On the other hand, the failure to exercise effective diplomacy as well as a deficit of strategic partnership and rising tensions between the U.S. and China which are involved in the so-called Trade War, have also affected the global geopolitical, geostrategic and geo-economic stability. A war between countries in the contemporary definition does not only come from a conventional form (military occupation). However, the paradigm of war itself in the international order has shifted towards war in the economy, technology, capital, services, sources of production, etc. The merging of the two forces between Hard Power and Soft Power, known as Smart Power, has been adopted as a new method in the implementation of great power policies in achieving their national interests.  

In the context of global economic order, the imbalance in the distribution of wealth between developed countries and developing and underdeveloped countries is even more pronounced. The dependence between developing and poor countries on the technology and production of developed countries shows that the economic-political relationship between countries is exploitative and manipulative. In fact, on the one hand, the natural resources in developing and poor countries are sometimes controlled by developed (industrial) countries. This is certainly a legacy of the political-economic models of European countries in the 15th to 18th centuries, where their foreign economic policies tended to be Mercantilist, Imperialist and expansionist.

Likewise, with the shift of the classical economic model of mercantilism towards a liberal model of capitalism. This is expected to bring a positive impact, such as rapid economic growth through an international trade model that is considered more balanced within the framework of free trade. However, critical theorists, especially those who emphasize the study of relations between classes and between states, assume that the liberal economic model of capitalism exacerbates the exploitation of natural resources and human resources (workers) especially by referring to the policies implemented by developed countries through certain corporations against semi-periphery and periphery states.

Questions, how to ensure that the global political-economic system can work perfectly to achieve global geopolitical, geostrategic and geo-economic stability? Could the current global political-economic system that tends to be exploitative transform towards a more collaborative and inclusive direction? How can the global community and state actors contribute to creating sustainable perpetual peace? It is envisaged that this conference would address those issues.

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