THE SHIFTS IN INTERNATIONAL TRADE AND WORLD PRODUCTION IN THE LIGHT OF GLOBALIZATION NEW TRENDS
Journal Title: Medzinárodné vzťahy - Year 2017, Vol 15, Issue 1
Abstract
The article analyses globalization in relation to the current international trade and production shifts. The traditional globalization form culminated in the 1990s under favourable political and economic conditions. Nevertheless, nowadays, some barriers to the process have arisen suggesting the changes of globalization towards its new multipolar scenario. The multipolar system concentrates production back to particular domestic locations, which results in offshoring decrease and slows down trade dynamics in comparison with the world GDP growth. Therefore, globalization shifts might be determinated not only by cyclical changes but also by structural ones. Thus the multipolar scenario may become an competitive alternative to the traditional globalization scheme.
Authors and Affiliations
Pavel Neumann
Keywords
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