The global economy is currently undergoing major changes in economic structure, power, and influence. Economies that are commonly referred to as "emerging markets" appear to have finally emerged and are forming themselves on the basis of their contributions to the global economy and financial activities. In redefining the international economy, the forms of international companies and landscapes and the international financial system, and even the shape of the international financial system, are becoming more important in helping this phenomenon. This is for the major developing economies that are at the forefront of this change, as well as Those are the most underdeveloped economies that remain on the periphery. At least from the perspective of global economic history, the phenomenon of shifting growth drivers is not a new phenomenon.
What is truly unique this time is the unprecedented importance of developing countries in mastering this transformation. Economies such as China and India are increasingly paying attention to the global economic growth scene, such as advanced countries such as the United States and Japan. The first major portion of the trade, financial and technical weighted growth shares measured in the constant dollar form is normalized to the maximum and minimum values for the entire period. This translates into more and more polarization in the world and will only continue to do so in the future. In fact, from the perspective of relative economic scale, the world is now more polarized than in the 1960s, and this proliferation trend will continue into the future, specifically to 2025.
What is important, however, recognizes here that the more diffused distribution of global economic activity does not require a more balanced distribution of the relative share of growth contributions, but rather a decline from the highs of the 1970s, but we Life is at its lowest point.
When we left the financial crisis of 2007/2008, the consolidation of economic growth coupled with the expansion of the economies of emerging powers such as China and India meant that the world had actually withdrawn from the multipolarity of the growth contributions we see today. Change. Now, although some people have already transformed in the context of competing languages and developed countries, this change should be considered more because the global distribution of world activities and influences is now less concentrated. Here, this story is not a possibility of a recession in advanced economies or emerging economies. But more economic growth brings more balanced sharing of benefits.
In other words, this is the economic convergence of the output and income that economics has long dreamed of and is therefore elusive. It is now very close to being realized, at least for the largest developing countries.
The future of multi-polar worlds for developing countries is at the forefront of the entire multipolar phenomenon. They are more involved in the future development direction of the global economy, which means more diverse growth activities are transformed into a more equal world.
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Orignal From: Multipolar world economy
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