The core – the periphery in global capitalism: from hegemony to multipolar order

Abstract

The article analyzes the present order, called neoliberal globalization. It serves American corporations from the arms, mining, financial and ICT sectors to accumulate the capital. They made Wall Street the financial center of the world where the surplus of Europe, Japan and Latin American is transformed into the American bonds. This order is embedded in the institutions created and steered by the American state. The competitive advantage in this phase of the evolution of capitalism is given not only by control over so-called intellectual property but also by conquering a possibly large market. That is the reason for the competition between huge mega-corporations such as American GAFA or Chinese BATX. Capitalism is affected by the planetary crisis. A decline of the economic growth rate will take place as a result of natural limits from 3% to the anticipated 1%, including a decreased productivity of the computer revolution. Mechanisms of the functioning of the world economy will change: reconstruction of energy industry and transport, pressure on recycling of minerals, transformation of the labour market together with the use of robotics and artificial intelligence, the end of consumptionism. The daily issues include the problem of supplementing economic globalization with a political control mechanism and including a new civilizational power, which China is becoming. The latter opt for a multipolar order, where local civilizations will preserve their separate character and where they will be able to create a system of supplying their economies with deficit raw material and outlets but without military bases and without following the USA in recognizing certain areas to be the “zones of vested interests”. The world will be different but will it be worse?