Structural and Logical Model of Contemporary Global Economic System

Abstract

Introduction Contemporary global economy is a comprehensive system consisting of interconnected elements. All modern economic systems are--to a certain extent--involved into international economic activities and contribute into its development. The recent global financial crisis showed a strong connection between economies of various countries. Under the conditions of close interdependence, economic systems cannot seek only their own interests and are obliged to correspond to global priorities of economic development. In order to understand which strategic landmarks should be set in the global scale and which global tasks should be solved first, it is necessary to know the state of things in the global economic system, as well as possibilities and perspectives of its development. This predetermines high actuality of modeling of current state of the global economy and future tendencies of its development--which is viewed in this research, aiming at building structural and logical model of contemporary global economic system, forecasting of its development in future, and development of recommendation for maximization of advantages and minimization of negative aspects of this development. The authors focus on the problem of deepening contradictions of interests of various members of global economic system with development of integration processes and problem of strengthening of global economic problems with economic development of the global economic systems. While initially the most important economic problem was limitation of production capacities, and key task--increase of production capacities for satisfaction of unlimited needs, at the modern stage production capacities reached such level of development that there's a necessity for artificial creation of needs and stimulation of demand. Thus, relations between humankind and environment are aggravated. The most economically developed countries implement various limitations for economic activities for the purpose of preservation of fragile balance of interests of production and keeping favorable conditions for living. Developing countries, on the contrary, continue to grow rates of industrial production, which aggravates living standards in these countries and, together with overpopulation, leads to growth of migration flows into developed countries, living standards of which also reduce under the influence of this process. The above contradictions are only some of the global economic problems of modern times, which have to solved as soon as possible. Thus, the article is aimed at regulation of disputable situations and balance of interests of members of contemporary global economic system, which determines its practical direction and high social significance. Materials and methods Theoretical basis of the research includes works of modern authors in the sphere of study of sense and specifics of functioning of contemporary global economic system, its evolution and structure, and factors and determinants of its development at present and future, which include the works by (Aslam &Azhar, 2013), (Jahfer & Inoue, 2014), (Savic et al., 2014), (Md. Al & Sohag, 2015), (Eltejaei, 2015), (Kokodey, 2013), (Isabel, 2015), (Qoboa & Dubeb, 2015), (Drezner, 2014), (Bilorus, 2013), (Pulselli et al., 2015), (Klinov, 2015), (Galbraith, 2015), etc. According to the latest research, contemporary global economy develops dynamically (Ghartey, 2015), which stipulates its periodical restructuring (Othman et al., 2014) and change of growth poles (Popkova, 2014). Certain scientists distinguish in the structure of global economic system the countries of core, semi-periphery, and periphery (Inglesi-Lotz et al., 2014). Others distinguish developed and developing countries which also have their own structure (Maswana &Farooki, 2013), which, according to the authors of this research, is the most authentic. …