THREAT OF GLOBAL ECONOMIC DOWNTURN AS A RESULT OF "DOMINO EFFECT"

Abstract

The paper defines the evolution and main features of the post-war global economic recession in North America, Western Europe, Japan and Ukraine in the second half of the twentieth century until the present stage; clarifies the reasons that pushed one of the most powerful world economies – the Chinese economy – into the crisis; analyzes China’s place in the global economic system; estimates the impact of China’s decline on the stability of the global economic system and worsening the crisis processes in Ukraine.

Keywords

• social and economic crisis
• the global recession
• “Domino Effect” (chain reaction)
• countercyclical policy