Piskovets
L. A., Rieznik M. A.
GLOBALIZATION
IN THE INTERNATIONAL ECONOMIC RELATIONS
Stating the problem. Globalization can
be regarded as general broadening and deepening of processes of international investment,
production, supply and distribution, finance, scientific and technical progress
and education. It covers all spheres of public life, and, as a result, the social
and economic process in one country becomes an integral part of the
international or world process. Although the researchers do not have a unified
definition of this phenomenon and their assessments of its consequences are ambiguous,
the literature is dominated by the idea of globalization as the spread of
economic, political and cultural processes outside of the countries and
formation of a new integrity of the world space on this basis. The processes of
globalization are manifested in all spheres of human activity and they determine
the gradual formation of a global economic space. Thus, the likelihood of
preserving the autonomy of national economies is decreasing.
Relevance of the topic. The urgency
of the research lies in the fact that every state is a subject of some
direction of activities of transnational financial structures, external borders,
strategies and priorities of international organizations and institutions. In contemporary
scientific literature there are no answers to a number of issues that arise in
connection with globalization, and the authors’ attention is focused mostly on
the economic and cultural components of globalization. Therefore, the relevance
of the research topic is determined not only by the need to deepen theoretical
knowledge about the phenomenon being studied and systematize scientific
achievements with social and geographical positions, but also by the practical
significance of the problem.
The aim of the study is to disclose the essence, main stages of globalization and the impact of
globalization on economic processes within countries.
The research object is modern international economic relations in the conditions of
globalization.
So, the globalization of international relations is the increase in
interdependence and mutual influence of different spheres of social life and
activity in the field of international relations. It concerns virtually all
spheres of public life, including economy, politics, ideology, social sphere,
culture, ecology, safety, lifestyle, as well as conditions of human life.
The development of global markets for goods, services, labour and capital
is at the core of globalization. This process is marked by the increased movement
of assets in the most profitable branches of national economies and fast
development of financial markets that generate strong financial flows; and the
intensification of the financial innovation market and of the process of
innovation involves creating, developing and spreading innovations.
Rapid globalization and intellectualization of production, of market and of
economic activity is caused by the unprecedented growth rate and scale of
innovations that radically change the socio-economic structure of the society
and relations of production. It becomes obvious that the solution to economic
problems requires new approaches and progressive quality changes. Continuously
arising in time and space, such changes are a characteristic feature of the
innovation process, and serve the basis for the information technologies to
develop, in particular, the global network Internet which connects different
technologies, patterns, components, systems, services, offers, etc, alongside
with the communicative and functional environment.
The most characteristic features of globalization in the international
economic relations are the increase in international trade and investment, liberalization
and deregulation of capital flows, tangible growth of the role of transnational
corporations in the international economic processes, increased global
competition, the emergence of systems of global, strategic management and the
enhancement of the role of information and communication technologies for
economic development.
Globalization has positive and negative consequences. The positive effects include the increased productivity resulting from rationalization of
production, extremely high growth rates of foreign direct investment, the
direction of capital flows into developing countries, especially those ones
that require financial resources, intensive development of scientific and
technological progress, and creation of transnational corporations and other
various alliances.
Negative effects include the loss of competitive advantage due to increased market openness,
the outflow of capital and labour from sectors associated with exports, the
fact that the TNC budget exceeds the budget of some countries, the reduction of
state sovereignty as the attribute of power, etc.
Thus, we can conclude that one of the main features of the behavior of countries
in the context of globalization and the basic pattern of development of social
and political relations at the global level in general is the fact that international
relations are not orderly, not regular, owing to the asymmetric development of
subjects and the uneven distribution of resources. Due to the objective steps
of the processes of internationalization, transnationalization and
globalization, as well as under the influence of scientific and technological
progress the new environment for functioning of national economies is generated.
It determines the necessity of search of new approaches to the development of
the strategy of integration into the world economy. Therefore, the change of
the concept of foreign economic strategy should be focused on being able to
enter the international division of labor organically and maximize the benefits
of integration into the world economy as a result of the obvious
interdependence of national economies and the international economic space.
The list of references:
1.
Owens P., Baylis J.,
Smith S. The Globalization of World Politics / P. Owens, J. Baylis, S. Smith. –
An Introduction to International Relations (4th education). –
2.
Stiglitz J. E. Globalization
and Its Discontents / J. E. Stiglitz. –