Bìznes Inform (Sep 2015)
The Contemporary Architecture of the Global Economy: an Analysis of Changes and Trends
Abstract
The article is aimed to analyze new trends taking place in the today's global economy, with the purpose of forecasting the future architecture of the world economy and determining roles of various world countries in the global economic system. Contemporary trends of the economic globalization process in terms of both the trade and investment aspects were examined. Characteristics features and elements of economic globalization were allocated. It has been specified that this process is of controversial nature and can bring ambiguous implications for the world countries. A few years ago the developed countries were leaders in both the world trade and global investment, but nowadays there is a change in the architecture of the world economy for the benefit of the developing countries. It has been emphasized that in the developing countries the process of transnationalization is taking place violently: new transnational corporations are being created and developed, which carry out active expansions on the markets of the both developed and developing countries. Rapidly growing are trade and investment flows within the developing countries that provides them with the means of production and large sales markets.
