GEO-ECONOMIC STRUCTURE OF THE GLOBAL MARKET: CHALLENGES AND PROSPECTS (PANDEMIC AND MILITARY&POLITICAL SHOCKS, 2010–2022)

Abstract

Noting that many articles and fundamental reports are devoted to the problems of geo-economic and geopolitical transformations, the author offers his view on some of the main trends of such changes and the causes that determine them. The question of the formation and transformation of geo-economic structure of the world economy in current conditions – in the period after 2008-2009 global financial crisis, with the impact of COVID-19 pandemic and the Russian Federation’s ongoing war against Ukraine – is considered. The actions of the collective West, caused by the historical challenge from countries of Asian and so-called Euro-Asian civilizations in the form of rapid economic growth (sometimes, a "jump") in a number of former "third world" countries, are analyzed. Three groups of main causes that led to the aforementioned changes in the pace and direction of geo-economic restructuring are identified and analyzed: fundamental (civilizational), pandemic (related to the economic consequences of COVID-19 pandemic), and military & political (Russian Federation’s military aggression against Ukraine). Although on the surface the effects of causes that emerged during the last decade are seen, in reality they only boost the effects of the root causes that determine the long-term trends. Given that Ukraine has found itself at the center of a clash of interests between several important actors of global politics and economy at once, inevitable changes in the geo-economic position of Ukraine in the post-war world are expected, which may lead to its qualitatively new role in the global economy, provided that the authorities and society understand new historical prospects and work persistently on relevant priorities.