A New World Economic order formation

Abstract

Every few decades, the world order changes due to various geopolitical, economic and other circumstances. For example, as a result of globalization, the world order has undergone significant changes in the last forty years. Globalization has led to the destruction of the postwar world order, as well as to world leadership by the United States and the West. However, in recent decades, as a result of globalization, the U.S. and the West began to cede their leadership to developing countries, so there is now a change in the economic structure of relations in the world system. Today the center of economic growth is in the East, namely in Asia. There are no new superpowers in the world at the moment, but the unipolar world will cease to exist due to the weakening of the U. S. leadership, which will lead to a change in the world order. A new leader, which may replace the U. S., will not have as wide range of advantages as the USA has. Most likely, the essence of the new order will be to unite the largest countries and alliances into blocks, for example, the USA together with the Trans-Pacific Partnership, the EU, etc. The article outlines forecasts of GDP growth rates as well as the global energy outlook; analyzes the LNG market as well as the impact of the pandemic on the global oil and gas market; and lists the characteristics of U. S. geopolitics.