V. Khoros, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAN), 23 Profsoyuznaya Str., Moscow, 117997, Russian Federation (email@example.com)
For the last half-a-century important changes are taking place in the process of globalization, as the countries belonging to the Center are entering the post-industrial stage. The transfer of some industrial production from the post-industrial North (West) to the South (East) is creating not just new elements of interdependence, but new forms of the Periphery’s dependence on the Center. The disproportional growth of finance and the dominance of financial institutions in the world economy have resulted in a number of serious crises in Asia and Latin America, as well as similar events on a global scale.
globalization; modernization; postindustrial phase; Center; Periphery; tertiary industrialization; financialization; liberalism; etatism
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