Globalization of Economy: qualis es et quo vadis?

DOI: 10.20542/0131-2227-2011-1-16-24

V. Pan’kov, National Research University Higher School of Economics, 20, Myasnitskaya Str., Moscow, 101000, Russian Federation (

Abstract. In a long historical perspective, the globalization of the economy is, no doubt, the future of the mankind. However, we should not overlook the contradiction that has dramatically intensified as a result of the 2008-2009 recession. This is the contradiction between globalization as an objective process with mostly positive effects and its model that is being implemented today (namely, the policy of globalization). Furthermore, we can propose a number of important arguments in favor of a statement that at the current state of affairs the globalization has exhausted itself. Nobody can exclude a short-term braking down of the globalization progress nor even a U-turn, albeit temporary, to a de-globalization. Under unfavorable circumstances such a reverse movement can cover the entire period up to 2020. The author states that transnational corporations are the main subject of the world economy which will the most actively oppose such a development.

Keywords: globalization, economic globalization, internationalization of world economy, homogenization of economic space, transnationalization of capital, TNC

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For citation:
Pan'kov V. Globalization of Economy: qualis es et quo vadis?. World Eonomy and International Relations, 2011, no. 1, pp. 16-24.

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