DIAGNOSTICS OF CURRENT PROCESSES IN THE WORLD ECONOMY IN THE CONDITIONS OF GLOBALIZATION

Abstract

One of the key aspects of the evolution of the world economy is the active spread of globalization, which signifies a new qualitative stage in the process of international integration of economic activity. The process of globalization of international economic relations can be defined as the strengthening of interdependence and mutual influence of various sectors of the economy at the global level. This means that any commercial transaction will inevitably affect the domestic economy, production processes, ecology, social sphere, politics and other key aspects. Today, globalization has become one of the most important characteristics of the modern world system, the impact of which can be observed in all regions and sectors of the world economy. Its action changes the balance between external and internal factors affecting the development of the national economy. The structures of national production and finance are becoming closely intertwined, and the number of international agreements is dynamically increasing. In such conditions, no national economy, regardless of its size or level of development, can any longer exist autonomously. The limitations of their own resources, production capabilities, technologies or capital force countries to seek ways of cooperation and integration. The unfair distribution of the benefits of globalization creates the risk of conflicts at the regional, national and international levels. Instead of reducing income inequality, it is becoming even more stratified. In this process, countries that demonstrate rapid development are falling into the circle of richer states, while poor countries are increasingly left behind. Instead of reducing or eliminating inequality, the integration of national economies into the world system only exacerbates these imbalances, making them more acute in many respects. In the modern conditions of a globalized economy, the main distinguishing characteristic of which is the strengthening of interdependence between states and a high level of openness of national markets, the action of the fundamental economic laws of supply and demand is no longer total or indisputable. Instead, they manifest themselves to a greater extent as a general trend, which is accompanied by significant transformations of the traditional market mechanism of price setting. In the modern global economic reality, the process of convergence of the internal price structure of national markets with the levels a nd dynamics of prices formed on the world market is becoming increasingly obvious. In conditions of uncertainty, nonlinear dynamics of global development and the complication of long-term forecasts, when economic problems accumulate gradually, and the moment of their critical exacerbation remains unknown, it is necessary to study the key trends and challenges for the world community in more depth. This study becomes the basis for determining the strategic imperatives of the development of individual countries. Modern reality, characterized by complexity, heterogeneity, asymmetric redistribution of world resources and nonlinearity of processes, creates new conditions for a number of countries. For them, economic globalization appears as a qualitatively different dimension of development. These conditions require mandatory consideration, even if it is possible to influence their formation less and less.