This study examines how international economic and political matters are interrelated within the context of the Covid-19 pandemic's outbreak as well as its serious effects on global economy. It argues that the International Political Economy (IPE) may provide answers to how the pandemic shapes (or fails to shape) international economic relations. The paper explores how, as a transdisciplinary field, IPE helps to understand patterns of change and continuity in global economics and politics in the wake of the pandemic, and IPE's contribution to global health research as well. The study defends the hypothesis that the state has been and is still present at the heart of neoliberal capitalism, and that it has preserved its foundations within a heterodoxy neoliberal trend heading towards more authoritarian neoliberalism, and steadily moves from market to state neoliberalism. The study also advocates positioning the Political Economy of Health at the center of health research; as long as health is considered a transnational issue. It goes on to discuss the failure of international institutions to enable international cooperation to confront the pandemic, a failure forged by the rise of nationalist populism.