THE ECONOMIC RACE. ANALYSIS FROM THE DAYS OF THE COLD WAR TO TODAY

Abstract

After the First World War, a process of qualitative changes in the world economy began, which ended with the fall of the colonial system. During this period, the market economy was significantly transformed into social governance. Market instruments began to become more closely intertwined with macro-level government regulation. With the development of productive forces and economic relations, a mixed economy was actively created. The market system of the world economy was formed in the mid1980s by more than 160 countries, including more than 30 industrially developed countries. Late 80s, early 90s of XX century. The formation of the world economy in the 90s of the 20th century was influenced by the separation of most of the Eastern European countries from the socialist economic system. In general, the world economy at the end of the 20th century, at the beginning of the 21st century, while maintaining diversity, is nevertheless more complete, global, integrated and dynamic than in the middle of the 20th century. New economic ties and relations became characteristic of it, customs and political unions expanded. The formation process was not over yet, as the deep development of all the factors predetermining it continues. The main trend in the development of the modern world economy is the internationalization of production. Its main factor is the transition of developed countries to a super-high-tech base dominated by information technologies in the 60s-80s of the 20th century.