Akademik Məlumat İdarəetmə Sistemi
Economic and Social Development 56 the International Scientific Conference on Economic and Social Development - Book of Proceedings. Aveiro, (Portugal) , vol.15, pp.402-413, 2020 (Conference Book)
The article discusses the globalization of the world economy in the process of changing the world space, transforming it into a single zone, opening for the unhindered movement of goods, services, information, capital. It is also easy to spread ideas and carriers in this space, contributing to the development of relevant institutional formations and setting up systems of interaction between them. The consequence of globalization of world systems in this way is the emergence at the international level of a single space: cultural, informational, legal and economic. In other words, the phenomenon of globalization is not limited to the sphere of the economy, but to a large extent affects all key areas of society - ideology, culture and politics. Without a doubt, this phenomenon has been given a central role in the global economy of the new century, which consists in catalyzing the formation of an updated world system of relations in politics and economics adapted to globalization. One of the problems of globalization is potential global instability due to the interdependence of national economies at the global level. As a result, local economic fluctuations or crises in one country can have regional or even global consequences. The negative aspects of globalization are associated with the potential conflicts it is fraught with, although they can be mitigated by developing global cooperation based on political agreements or creating new international institutions. The globalization of the global economy has an impact on all states, in particular, determining the development and diffusion of technologies between countries, the use of labor, the manufacture of goods and the offer of services and investments. As a result, such parameters as competitiveness, labor productivity and production efficiency as a whole change.