The Impact of the Digital Economy on Globalization

Abstract

The article explores the main directions and trends of the modern economy – digital and its impact on globalization processes taking place in the modern world. Digital economy entered the modern definition is not so long ago, having gone through the difficult path of becoming both in the world and in Ukraine. Forming as a modern science, digital economy is becoming a feature of modern times: new terms, categories, concepts, tools are emerging and being introduced into scientific modernity. Some terms have been proposed for use in modern economic science, including: digital co-working center, cross-platform with digital industry, digital hub studio, hub association, hackathon, internet of things; some of them have been interpreted by the author. The contemporary impact of the digital economy on globalization has been investigated and some trends, implications, which can positively affect the further development of the IT industry in the economy of the world and Ukraine, especially the development of small and medium-sized enterprises basis of economic development for the coming period, especially as the next wave of the global economic crisis approaches. Although the term "digital economy" has long been used in the economic community of the world, not all its characteristics have been described in terms of theoretical economics, and even more so, those specific terms that accompany it in the economic studies of scientists. The digital economy is determined by a number of aspects in the technological, global, digitized, social fields. This article shows and substantiates ways to form some terms used in this direction and justifies (in some cases propose own) the formulation of terms that are either used in foreign-language sources or come from other fields, especially technical terms, economic substantiation of which is necessary for modern theoretical thought.

The Impact of Digitization of the Economy on Changes in Supply Chains in Modern Conditions

“…We offer a quick implementation of this idea, because it is important for Ukraine today also because the so-called third wave of globalization, which is called inclusive, means that thanks to the development of the digital economy, and precisely the processes of digitization in it, small and medium-sized businesses have received an inaccessible earlier, the opportunity to become global, to join supply chains and the world economy, especially the European one. If the first wave of globalization in the 19th and early 20th centuries was controlled by large states (mainly their rulers), the second by transnational corporations, then the third wave will take place thanks to individual, first of all, small companies, and therefore it is beyond the power and expediency of each of them develop digital supply chains, they are already developed and should be used by such companies, and IT specialists should help them in this [20].…”