ПОДОЛАННЯ ГЛОБАЛЬНИХ ДИСБАЛАНСІВ У СВІТОВІЙ ЕКОНОМІЦІ В КОНТЕКСТІ ЗАГОСТРЕННЯ СОЦІАЛЬНО-ЕКОНОМІЧНОЇ КРИЗИ

Abstract

The article considers methods of overcoming global imbalances in the world economy in the context of exacerbation of the socio-economic crisis. The definition of the concept of global imbalances formulated and their classification was covered. The article highlights the periodicity of global financial imbalances and global imbalances that affect macroeconomic development. It is determined that in recent decades, global economic development has undergone several economic crises that have created global imbalances in world trade and redistribution of capital and resources of national economies. The G20 premier forum for international economic cooperation must form a list of recommendation that every country should follow in order to overcome global imbalances. In addition, analyzed that all this is happening in the context of the slow growth of world trade since the global financial crisis of 2008 and the recovery of the world's economies from the shock caused by the spread of the COVID-19 epidemic. The article highlights the US deficit relative to gross domestic product and identifies its impact on the structure of global imbalances. It highlights how the US current account deficit affects the formation of current local imbalances between national economics. It analyzed that 2020 was a stage of economic collapse, similar in nature to the Great Depression of the 1930s. In the article was determined that global imbalances are the compound of deficits and surpluses on the current account. It is determined that the significant decline in international trade during the period 2020-2021 caused by the effects of the COVID-19 pandemic. It is determined that the new economic uncertainty is reflected in world capital markets in general and in international financial markets, in particular, in the volatility of capital flows to the economies of developing countries. The paper highlighted measures to support the countries most affected by COVID-19, as an example of cooperation in reducing today's global imbalances. All the above aspects formed and described in the following article with reasonable considerations and supplemented by examples of factual data.