The global conflict process and the global economy are viewed as being interconnected at the global level through a process that has distinctive characteristics and a momentum of its own. This political economy of global conflict is examined from a broad-gauged, historical, and dynamic perspective. Evidence is presented from the 1954-1980 time period that supports the viewpoint that changes in civil war, international war, size of the global economy, economic interdependence, and economic hegemony are interrelated in a complex behavioral pattern with higher order lag structures, autoregressive components, and multivariate relationships involving some feedback mechanisms.