Current Globalization Trends

Abstract

This article deals with the issue of globalization and its impact on economic processes in countries worldwide with different economic systems; analyzes the current state of the world economy and the contribution of national and foreign researches to the development of economic science. * Akademia Polonijna w Częstochowie 1 Валлерстайн И. Конец знакомого мира, социологии ХХІ века. / Пер. с англ. / Москва, 2003. -348 с.

Problems of Instability of the World Economy Under Globalization

“… uneven distribution of the benefits from globalization in terms of individual industries of a national economy;  possibility of de-industrialization of national economies;  possibility of transferring the control over the economy of some countries from sovereign governments to other hands, including more powerful states, multinational corporations or international organizations;  possibility of destabilizing the financial sector -financialization, which reflects the dramatic shifts in the structure of the modern world economy concerning the exaggerated dominance of the financial sector;  potential regional or global instability due to the worldwide interdependence of national economies. Local economic fluctuations and crises in one country may cause regional or even global consequences (Kulishov, 2014). Less developed countries which belong to the so-called "world periphery" may feel the most negative consequences of globalization.…”

“…Globalization in its present version leads to "reformatting" the structure of the modern world, and as a result -the adjustment of national systems of public business activities, changes in strategies of economic, political and spiritual development, which generate a continuous interdependence of the world, which is the basis for its functioning. The growing interdependence unifies and standardizes conditions and factors of the development of individual countries and constitutes the peculiar indicator which determines the level of sustainability of national states and consequently their capacity to deal with the challenges of globalization processes, which today are the main criterion for the consolidation of states in the relevant global or regional structure (Kulishov, 2014).…”