From Global Crisis to Crash of World System

DOI: 10.20542/0131-2227-2011-2-100-108

L. Myasnikova, St. Petersburg State Economic University, 21, Sadovaya Str., St. Petersburg, 191023, Russian Federation (

Abstract. The financial crisis of 2008 turned into a global crisis of trans-capitalism that had formed in the last quarter of the XXth century in three dimensions: economic, energy security and climate (environmental). The measures undertaken today by the United States and other countries that form the core of the global financial system are focused on preservation of it and do not affect the major institutional sources of the crisis. The emphasis is made on the fire-fighting methods that are based on the monetary dogmas prescribing fast and unsecured issuance of US the dollars. This creates highly dangerous imbalances in the global economy. The United States is turning from a generator of controlled chaos in the world into a generator of unmanaged chaos. In 2006-2007, China overtook the United States in terms of the real GDP. This means a change of the world's economic leader, and the current global crisis is a consequence of this fact. Still, despite the decline of its power, the United States remains an undisputed project, information, scientific and technological and military-political leader of the modern world.

Keywords: global crisis, world economy, United States, China, Russia, credit “hysterics”, externalization of costs, world-system disaster

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For citation:
Myasnikova L. From Global Crisis to Crash of World System. World Eonomy and International Relations, 2011, no. 2, pp. 100-108.

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