The Restoration of the World Economy: the international economy since 1945

Author(s):  
Anthony Harrison
Author(s):  
Ndubuisi Ekekwe

For many centuries, the gross world product was flat. But as technology penetrated many economies, over time, the world economy has expanded. Technology will continue to shape the future of commerce, industry and culture with likes of nanotechnology and microelectronics directly or indirectly playing major roles in redesigning the global economic structures. These technologies will drive other industries and will be central to a new international economy where technology capability will determine national competitiveness. Technology-intensive firms will emerge and new innovations will evolve a new dawn in wealth creation. Nations that create or adopt and then diffuse these technologies will profit. Those that fail to use technology as a means to compete internationally will find it difficult to progress economically. This chapter provides insights on global technology diffusion, the drivers and impacts with specific focus on nanotechnology and microelectronics. It also discusses the science of these technologies along with the trends, realities and possibilities, and the barriers which must be overcome for higher global penetration rates.


1982 ◽  
Vol 36 (4) ◽  
pp. 687-713 ◽  
Author(s):  
David D. Laitin

Certain relationships among hegemony, international openness, capitalism, and state formation are stipulated by Polanyi, Kindleberger, Gilpin, Krasner, and Wallerstein. Here they are put to question through an examination of the rise and fall of the Yoruba state in the 18th and 19th centuries. In contrast to what widely held theories would predict, the Yoruba state was strengthened through greater exposure to international commerce. Second, from the point of view of African traders, the rise of British hegemony meant a decline in freedom to trade. Third, although the remnants of the Yoruba state were on the periphery of the world economy, its traders were able to penetrate international markets, even during periods of international economic crisis, with considerable success. In light of these findings, some suggestions are made for the reformulation of conventional theories;


Author(s):  
M. V. Milonova ◽  
S. V. Baranov

The article discusses issues related to the general decline in the world economy on the background of coronavirus infection. The authors attempt to analyze the consequences of the introduction of quarantine and isolation for the population of most countries, as a measure to constrain the pandemic. The article presents changes in the gross domestic product of the countries most affected by the COVID-19 pandemic in April 2020 compared to the same period in 2019, and a special place there is given to Russia. The authors also consider the crucial changes in the international pension system and suggest possible solutions to this problem. The article puts forward and substantiates the hypothesis that the reasons for such a significant drop in the economy include hard economic problems formed long before the pandemic. This includes an analysis of the recession on the income of large international corporations included in the S & P 500 international index. This article identifies the main key problems of the international economy and suggests the main ways to solve them. It also provides a forecast of further development of the economic situation, with regard to the current state.


Author(s):  
Ndubuisi Ekekwe

For many centuries, the gross world product was flat. But as technology penetrated many economies, over time, the world economy has expanded. Technology will continue to shape the future of commerce, industry and culture with likes of nanotechnology and microelectronics directly or indirectly playing major roles in redesigning the global economic structures. These technologies will drive other industries and will be central to a new international economy where technology capability will determine national competitiveness. Technology-intensive firms will emerge and new innovations will evolve a new dawn in wealth creation. Nations that create or adopt and then diffuse these technologies will profit. Those that fail to use technology as a means to compete internationally will find it difficult to progress economically. This article provides insights on global technology diffusion, the drivers and impacts with specific focus on nanotechnology and microelectronics. It also discusses the science of these technologies along with the trends, realities and possibilities, and the barriers which must be overcome for higher global penetration rates.


Author(s):  
Svitlana E. TKACHENKO

Introduction. The article highlights the problems and prospects of globalization of international economic relations, identifies the importance of globalization for the sectors of the world economy structure, determines the impact of globalization on different groups of countries, examines the state and actual tasks of the globalization process of the international economy in conditions of innovation and integration, to positive and negative effects. One of the main problems of globalization is the potential global instability due to the national economies interdependence of the countries at the global level. The purpose of this article is to investigate the impact form of economic globalization on the competitiveness factors modification; the globalization conditions justification of national and world economic relations. Results. The study of the problem and perspectives in the context of the globalization concept disclosure of the world economy made it possible to define this process as a transformational internationalization of the world economy into a global system of international scale on the principles of openness, universality and interdependence. The essential features that lead to the globalization development of the world economy are at the present stage: the formation of the world information space, scientific and technological progress; economic integration; a new system of labor international division; the implementation of universal liberal-democratic values. Conclusions. Given the uneven distribution of the globalization benefits, of course, the negative effects of globalization processes in a particular country will significantly depend of the place, that this country occupies in the world economy. In this regard, three groups of threats, dangers, and potential problems have been identified, that arise at the present stage of development of economic activity internationalization, depending on which countries they may reach. Keywords: globalization, integration, international economy, competition, world economy, economic development, national economy, socio-economic relations.


2010 ◽  
Vol 211 ◽  
pp. F4-F11
Author(s):  
Ray Barrell ◽  
Martin Weale

When protection is discussed people normally have policies designed to restrict imports in mind. But the way in which the international economy has been affected by toxic financial assets issued in the United States suggests that countries might face problems not only because of the goods and services trade but also because of the financial assets they import. Thus, in discussing the case for protection, we consider first whether there is a case for protection to prevent economies importing some types of financial instrument and, secondly, whether there is a case for more traditional protection as a way of resolving the global imbalances of the world economy. We conclude that financial protection is a sensible way for countries to protect themselves from risky assets if the production and testing of such assets is not regulated internationally.


2004 ◽  
pp. 113-122
Author(s):  
L. Kabir

This article considers the basic tendencies of development of trade and economic cooperation of the two countries with accent on increasing volumes and consolidating trade and economic ties in Russian-Chinese relations. The author compares Russian and Chinese participation in the world economy and analyzes the counter trade from the point of view of basic commodity groups.


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