System Of World Economic Relations Research Articles

The Problem of Asymmetric Development of the Global Financial Market

The transformation of the modern global monetary and financial system involves the elimination of institutional and functional contradictions existing at various levels. Some contradictions arose as a result of the asymmetric development of the global financial market (GFM). The aim of the article is to substantiate the asymmetry of the GFM development as an organic phenomenon, which, on the one hand, becomes a serious obstacle to the functioning and progressive development of the world economy, and, on the other hand, is the driving force behind this development. The authors apply general logical, theoretical, empirical, and special research methods. The origins of the asymmetric development of the GFM are determined. Endogenous and exogenous factors of GFM asymmetry were revealed. The article considers examples of asymmetry in various GFM segments. The negative impact of the global financial and economic crisis of 2008–2009 and the coronavirus pandemic on increasing the asymmetry of the GFM development has been determined. Based on the analysis of the key macroeconomic indicators of the top 20 countries in terms of GDP, the asymmetric nature and the absence of stable patterns that determine the country’s position in the world ranking are revealed. The authors conclude that the asymmetry of the GFM development is an organic phenomenon, caused by a wide range of causes of endogenous and exogenous nature. Endogenous asymmetries can be partially compensated either through complete economic isolation, which is likely to lead to a slowdown in development and lagging behind other countries in the future or through active involvement in a system of world economic relations based on fair partnerships. Exogenous asymmetry, due to the peculiarities of the historically established world order, is destructive for all participants in the global economic system, including those whose interests must be protected in the first place.

Russian economy in the face of new sanctions challenges

The year 2022 was characterized by a number of significant processes and events that made it possible to reveal the stability of the Russian and world economies. Thirty years ago Russia started moving to the market that marked the beginning of radical changes and transformations of the Russian economy and laid the basis for long-term trends that we are still observing. The liberalization of prices and the subsequent introduction of a single exchange rate regime, large-scale entry into the global financial system, and the strengthening of market principles of interaction of economic agents determined the contours of further development of the Russian economy. This was followed by a real test of strength — through a period of local and global crises, and in the sanctions of 2022, this “testing” has reached its apogee. The pandemic shock was replaced by a large-scale geopolitical tension due to the events in Ukraine. Russian assets were frozen, the existing system of world economic relations was massively deformed, and the Russian economy is forced to rebuild the mechanisms and foundations of its domestic and international development. At the same time, RF has the potential for forming new points of support, and it should be used more actively.

The Trends Changing the Economies of Latin America

At the turn of the second and third decades of the 21st century, new trends began to form in the economies of Latin America, which had experienced deep crisis shocks. In the future the development of these trends can adjust and strengthen the place and role of the region in the system of world economic relations. One of these trends is the rapid growth of the technology sector based on innovation and digitalization, which is able to ensure the transition of the region to a “new business normal,” understanding by this term consistent structural modernization and organic adaptation of the economies of Latin American countries to post-Covid realities. The main actors in this transition to the new economy are Latin American transnational corporations, the so-called multilatinas, and their avant-garde form, technolatinas, which are associated with innovations and high technology. At the same time, it is critically important to achieve a systemic relationship between the economic policy of the state and the business strategy of technologically advanced private companies. An effective public–private partnership seems to be a necessary condition for long-overdue institutional and structural reforms, the purpose of which should be to turn Latin America into a “region of start-ups” and a space of high-tech ecosystems. This article shows that the strategic task at the stage of a macroeconomic transition is to expand the domestic and foreign markets of the countries of the region for all types of Latin American goods and services, including technological and high-tech. According to the author, the best way to achieve this goal lies in the formation of a triple circulation economy or, in other words, the parallel and balanced development of national and regional markets with the simultaneous activation and diversification of foreign economic relations far beyond Latin America. It goes without saying that it is a long process, and the countries of the region are only at the very beginning of a marked transformation.

Роль международных валютно-кредитных отношений в системе мирового хозяйства и тенденции их развития в современных условиях

The article is devoted to the study of the essence of international monetary and credit relations, determining their place and role in the system of world economic relations based on the study of theoretical approaches to the interpretation of this multi-component term, forms of interaction between the participants in these relations, as well as building a conceptual model for positioning monetary and credit relations in the global economic system.
 The article presents the main trends in the development of monetary and credit relations in the world space, including: the transformation of international money circulation, currency globalization, currency polycentrism and regionalization, the universalization of the activity of participants in the loan capital markets and the transformation of traditional forms of credit operations, as well as the reasons that caused such changes. The article analyzes statistical data that clearly demonstrate the ongoing processes in the monetary and credit sphere, which determined the methodological tools of the study.

SIMULATION MODELLING OF THE ALGORITHM OF STATE REGULATION OF FINANCIAL STABILITY OF AN INSURANCE COMPANY

At present, Ukraine as a whole underestimates the possibilities of insurance as an influential tool for the development of the national economy. The potential of insurance, which is aimed at creating a market system of protection of property rights and interests of owners, maintaining socio-economic stability in society, is not used at full capacity. Insurance, as an integral part of the financial sector of the economy, accounts for a very small share in the structure of GDP. Ukraine's entry into the system of world economic relations and restructuring of its economy on a market basis requires the development of insurance business in Ukraine. The author proceeds from the fact that the most effective step in solving these problems should be the state regulation of insurance activities in Ukraine. Article main unresolved theoretical and practical issues of Government regulation insurance activities in Ukraine. It proposes ways and orientations of increasing the efficiency of insurance activities in Ukraine. Role of public institutions in formation and regulation of insurance market are investigated. Functioning of system of state regulation of insurance activities is analysed; ways and possibilities of its improvements are found. Peculiarities of official insurance policy are revealed. Main methods and instruments of state regulation of insurance activities are considered. Existing in world practice systems of organization of regulation and control over insurance activities are covered. Foreign experience of state regulation of insurance activities is evaluated in terms of possibilities of its adaptation to national economy of Ukraine under present conditions of its national insurance market. Moreover, is justifies that without continuing active role of the Government it is impossible to successfully resolve urgent issues of economic and social nature focused on the development of insurance activities, increasing its effectiveness and impact on the economy.

TRANSFORMATION OF OLD INDUSTRIAL REGIONS IN A RECESSION

The article substantiates a systematic approach to the transformation of old industrial regions in a recession, which, in contrast to existing ones, allows to detail the conceptual and categorical apparatus on the formation of old industrial regions; to structure the main features of the old industrial regions; to form ways of transformation of old industrial regions in the conditions of recession; is based on special research methods: abstract-logical analysis, systematization and combination, terminological analysis, method of theoretical generalization, method of monitoring, statistical analysis, graphical and tabular approach. The conceptual and categorical apparatus on the formation of old industrial regions is detailed and it is determined that the old industrial region is a socio-economic system that has a retrospective historical period of formation in which it could not move from production to production of ideas, operates in a recession with degraded structure, physically depreciated fixed assets and constant lack of capital and current financing. The main features of old industrial regions are determined: branch, regional, infrastructural, investment-innovative. Monitoring of the state and trends of development of old industrial regions of Eastern Ukraine was performed: analysis of general indicators of development of old industrial regions (population dynamics, migration growth, natural increase, poverty rate, unemployment rate); the development trends of industrial enterprises were monitored on the basis of absolute and relative indicators (number of industrial enterprises, % of unprofitable enterprises, volume of output, volume of sold products, profit, loss, number of employees). The ways of transformation of old industrial regions in the conditions of recession are offered: definition of anti-crisis strategy on the basis of monitoring of retrospective periods; formation of own regional policy and investment base for its implementation; support of old industrial regions and cities based on innovative aspects of the industrial revolution 4.0, integration of regions into the system of world economic relations based on the experience of post-industrial countries.

EVALUATION OF IT SERVICES MARKET DEVELOPMENT IN UKRAINE AND THE WORLD

Objective. The main goal of the research is to identify current trends and prospects for the Ukrainian and global IT services market in the deepening of digitalization processes, to investigate statistical indicators of the Ukrainian IT market and further possible vectors of development taking into account global trends in the digital technology sector. The objective is to investigate the role of the state in stimulating the development of domestic IT companies and attracting foreign investments. Methods. In the process of the study, the authors turn to general scientific methods of theoretical and empirical knowledge, such as systems analysis, observation, comparison, analysis, synthesis, modeling and formalization. Economic-statistical, tabular, graphical and econometric methods, as well as forecasting methods are applied for quantitative analysis. Results. The most important trends in the domestic and global IT services market are identified. They include: growth of revenues from the use of cloud technologies, growth of average mergers and acquisitions in the IT services market, growth of the market of mobile applications and platforms, increasing demand for open source software , increasing the requirements for the security of custom software, development of IT outsourcing, development and implementation of new technologies for IT installation and support of business processes; growing demand for digital and blended learning. The impact of IT sector development on the economy of Ukraine is studied. The peculiarities of the development of the Ukrainian segment of the IT services market in the system of world economic relations are revealed. The role of the state in stimulating the development of domestic IT companies and attracting foreign investment is considered. It is found out that the IT sector of Ukraine is showing a growing export orientation.

Critical Analysis of the Significance of Tax Incentives for the Cultural Industry in the Pre-digital Era and in the Context of Digitalization

The article is devoted to the assessment of historical experience, modern solutions and prospects for the use of tax instruments to influence the cultural industry as a creative component of national economic systems, as well as the world economy. The purpose of the article is to conduct a critical analysis of the significance of fiscal measures to promote the development of culture both at the pre-digital stage of the formation of the system of world economic relations, and in the modern digital world. The article verifies two hypotheses: (H1) the postulate about the need for tax support for culture in order to obtain noticeable material and intangible results of the cultural industry in the context of the transition to a digital economy; (H2) the assumption that tax incentives stimulate research and development activities in the cultural industry. The authors reveal the consistency and continuity of the use of appropriate methods throughout the history of the development of human civilization in civilizations and states of different degrees and levels of their economic and institutional development. It is concluded that from the time of the emergence of ancient classical states to the present, the tools of tax policy necessarily include mechanisms of tax benefits in the cultural industry. At the same time, the fiscal function of taxes in the sphere of culture is insignificant in terms of its economic consequences; the highest priority here is given to tax incentive measures, which include, first and foremost, corresponding tax benefits. The importance of tax incentives as leading instruments in this context is empirically substantiated by the example of China. In the modern digital world, the cultural industry is under the influence of regulatory tax measures that are transforming under new conditions, which include both innovative taxes (a tax on digital services) and new forms of fiscal interaction (interstate cooperation that has spread to the field of cultural interaction in the field of activities of transnational corporations in the digital sector).

SEARCH FOR NEW MARKETS OF UKRAINIAN HONEY UNDER THE CONDITIONS OF THE COVID-19 PANDEMIC

Ukraine produces more honey than the domestic market consume, which means that Ukraine has sufficient potential for honey exports. The main problems of the honey market of Ukraine are the shadowing of the market, low export price of honey and low consumer awareness of honey of Ukrainian origin. Due to the spread of the Covid-19 pandemic on the world market, the demand for honey rises. This is an opportunity for Ukraine to increase honey exports and enter new markets. It will help maintain a leading position in the world market in honey exports, increase the competitiveness of local honey producers and consumer awareness of Ukrainian honey and the build of the country’s brand as a reliable and responsible producer. The Middle East market was identified as a potential market for exit. This article examines the honey market of Ukraine, identifies the problems of the honey market and market’s prospects in the context of the spread of Сovid-19. The attractiveness of the international business environment of the Middle East is estimated in order to find potential markets for Ukrainian honey producers. An analysis of the Middle East countries for export of honey of Ukrainian producers based on a filter model. In the process of analyzing the Middle East market on the basis of a filter model, countries were selected by factors of macromarketing environment and introindustry environment. Moreover, each of the factors that helped determine potential market in the final of the research was assessed by author. The analysis of key filters revealed a high level of the Middle East integration into the system of world economic relations, the constant expansion of their cooperation with other countries, positive dynamics of economic growth indicators.

MECHANISM FOR THE EFFECTIVE PREPARATION OF BUSINESS PLANS USING PRICING CRITERIA WHEN IMPLEMENTING INVESTMENT STRATEGIES IN THE INTERNATIONAL CAPITAL MARKET

The article analyzes the shortcomings related to the temporary disposal of income, income from real assets or financial investments in securities transactions, and the decisions made on the suitability of a particular project for investment. The issues of implementation of relevant opportunities for involvement were investigated. Favorable investment opportunities were assessed, issues of differentiation of capital investments, hierarchical system of world economic relations, investment efficiency and methodological issues of efficiency were analyzed. Keywords: securities, investment strategy, financial instruments, commercial efficiency, net discounted income, project risk accounting.

Russia and Latin America: Constants and Variables in Trade and Economic Relations

The article shows that during the two decades of the 21st century, a new reality of trade and economic relations between the Russian Federation and Latin America (Latin-Caribbean America – LCA) has been formed and filled with concrete content, which, it can be argued, has passed the test of complementarity, and in a number of cases reached the level of large-scale partnership. According to the author, these relations are not artificially done geoeconomic construction, but a consequence of both objective factors that bring Russia and the LCA closer together (including in approaches to achieving the sustainable development goals and restructuring of the existing system of world economic relations), and the efforts of state bodies, business circles, representatives of the expert community interested in the development of Russian-Latin American cooperation. Of course, over the past decades the dynamics of trade and economic relations between Russia and Latin America has not always been stable, at some point it was largely lost, there was some pullback and “surrender” of some significant positions. This happened in large part because in the conditions of increased turbulence in the international markets and rapid global changes, the parties sometimes lost a promising vision of the future of Russian-Latin American economic cooperation, did not find opportunely new areas of cooperation attractive to both sides. In fact, positive introductory approaches to strengthening relations on the principles of strategic partnership have been periodically tested, especially in times of renewed international instability that has eroded the established world order. But each time the parties mobilized existing internal reserves and offered extraordinary areas of interaction. An example of the most recent time is the Russian vaccine Sputnik V, which has crossed political boundaries on the map of Latin-Caribbean America, became the core of the so called “vaccine diplomacy” and opened a “second breath” in the relationship between Russia and the LСA in the key area of business cooperation.

IMPACT OF FREE ECONOMIC ZONES ON REGIONAL ECONOMIC DEVELOPMENT: THE CASE OF KLAIPEDA FREE ECONOMIC ZONE IN LITHUANIA

The rapid growth of cooperation among countries, globalization, and integration has been some of the most significant indicators for the growing importance of free economic zones [FEZs] in the system of world economic relations. However, despite the advantages provided by FEZs, not all countries can successfully exploit the potential of FEZs. It is noticed that state institutions are hesitant to establish special purpose economic zones due to the difficulty of measuring the benefits of FEZs. This article aims to explain the phenomenon of the FEZ impact on regional economic development. In this article, based on the correlation analysis an algorithm is developed according to the interfaces illustrating the highest determination coefficient. The algorithm provides an opportunity to reveal the dependence on regional economic development from FEZs activity. The study reveals that the most critical FEZs activities that significantly impact regional economic development are the amount of attracted foreign direct investments [FDI], the number of companies operating in FEZ and jobs created in the zone.

ІМІДЖ УКРАЇНИ В ГЛОБАЛЬНОМУ ЕКОНОМІЧНОМУ ПРОСТОРІ

The article examines the image of Ukraine in the global economic space by assessing and comparing the world's leading ratings in the field of national branding, ratings that affect the image of Ukraine and some industry ratings. The transformation of the country's foreign economic priorities in the direction of purposeful promotion of its interests and the formation of a national brand in the global economic space are all due to intensified international competition, globalization of the world economy in terms of intensification of innovation processes and rapid growth of scientific and technological progress. In a difficult socio-economic and geopolitical situation for Ukraine, the issues of forming a national brand are very relevant, and its research has a considerable scientific interest. In this context, the national brand can become one of the ways to integrate the Ukrainian economy into the global economic space and support it at the appropriate level in the system of world economic relations. The role of the national brand in the positioning of the state in the international arena is analyzed. The interdependence of internal and external image of Ukraine is revealed. It is very important to intensify Ukraine's role in the world stage and strengthen its global competitiveness. Ukraine's place in the leading research on the national brand has been identified such as: the competitiveness index, the global innovation index, the economic freedom index, the ease of doing business index, etc. The strengths and weaknesses of positioning the image of Ukraine in the global economic space are analyzed. Prospects and recommendations for the development of the national brand of Ukraine are highlighted. The purpose of this work is to analyze the image of Ukraine in the global economic space and the peculiarities of the development of its national brand to gain a competitive advantage in the face of increasing international competition. Ukraine has every opportunity to rise in the system rankings. If we analyze their individual elements then we can see that the country receives the lowest values estimations in that direction that is characterized by the governance quality.

Оцінка маркетингового потенціалу підприємства та обґрунтування заходів з його підвищення

The article estimates the marketing potential of enterprise and substantiates the measures to increase it. The economic potential of marketing activity is the final economic result of the introduction of relevant marketing measures, derived from achieving a positive result from the implementation of marketing solutions at optimal costs in therms of both material and financial funds, taking into account the accomplishment of planned tasks. The deployment of processes of international economic integration in the course of globalization of the system of world economic relations causes the inter-penetrating of individual national economies, coordination of government actions in the development of economic policy that corresponds to the interests of all parties involved in the integration process, also with regard to third countries. Integration is ensured by the concentration and intertwining of various capital. Integration processes are rational in nature, gaining the form of associations aimed at achieving the overall economic targets of the participants. Competitive advantages arise as a result of rivalry in the projecting, production, sale and operation of products. Their formation is seriously influenced by the competitive environment: potential and current competitors, consumers of products and suppliers, manufacturers of substitute goods, as well as the State regulation. Under these conditions, the formation of competitive advantages is transformed into the task of active adaptation of the enterprise management system to changes in the competitive environment. Although, real positive results are achieved where this work is brought to the level of management technologies.

ТЕОРЕТИКО-МЕТОДИЧНІ АСПЕКТИ ВИЗНАЧЕННЯ ВПЛИВУ ГЛОБАЛІЗАЦІЙНИХ ПРОЦЕСІВ НА РОЗВИТОК ЕКОНОМІКИ УКРАЇНИ

The paper proposes a scientific approach to determining the impact of globalization processes on the development of Ukraine’s economy based on the analysis of the dynamics and modeling of indicators of the degree of integration of Ukraine’s economy into the system of world economic relations. Globalization is seen as a modern trend in the world economy as a system of interconnected and interdependent economic entities, among which a significant place is occupied by countries. The authors determine the degree of Ukraine's integration into the world economic space by its place in the ratings of globalization and economic openness. Analysis of the dynamics of the degree of integration of Ukraine's economy into the global economy is based on GDP, export and import quotas during 2006 – 2020. Based on the results of the analysis, the authors developed an econometric model for assessing the impact of factors on the globalization index of Ukraine, identified the most significant positive factors, namely the volume of exports of goods and services as a percentage of GDP, GDP, the ratio of foreign direct investment to GDP, the share of innovative exports export of goods and services of the country. The import quota and the corporate income tax rate have been identified as negative factors. Based on the results obtained during the modeling, the authors have developed and proposed a sequence of measures to increase the level of openness of Ukraine's economy in the context of its globalization. Perspective forms of globalization in the context of forming a new perspective of the international community on changing the vector of world economy - from globalization to regionalization and nationalization which have materialized in increasing the volume and diversification of the structure of international trade, intensification of international financial transactions, the emergence of transnational business, a sharp increase in foreign direct investment and intensification of international labor migration.

Dynamics of the structure of US foreign trade in high - tech manufacturing products

The significant role of the United States in global innovative industrial production and related foreign trade in high-tech products requires studying the interaction between these two phenomena of economic development of the country in the space-time continuum. By studying the dynamics of structural indicators of export-import components of US foreign trade in industrial goods with high knowledge intensity and the nature of their ratio in absolute terms (balance) for the period 1946-2019, long-term trends that determine its sectoral (in this case, by product groups) and territorial (spatial) structure in the global system of world economic relations are revealed. The interrelation of the de-industrialization of the American economy as a whole and the constant growth of the innovative potential of the industrial sector of the US economy with a slowdown in the external economic impact of the country's high-tech industries on the world market is shown, despite the historically established competitive advantages of this group of manufacturing industries and their successful development in the domestic market of the United States.

Analysis of Global Economic and Political Factors and Challenges of the Eurasian Economic Integration

The development of the EAEU takes place in the context of the formation of a new system of world economic relations and the transformation of the rules of world trade. Further areas of multilateral cooperation between states and regional integration associations are emerging (including the digital economy, cryptocurrencies). As a consequence of the aggressive foreign policy of economically developed countries, the regionalization of trade and economic ties is gaining popularity, which makes it urgent to reformat trade relations with regional integration associations. Along with this, the primary integration effect associated with the opening of national markets and the simplification of trade rules, which manifested itself at the first stages of the formation of the customs union and the single economic space (CES), is being exhausted. The volumes of mutual trade of the member states are changing, but its share in the capacity of the common market of the EAEU remains virtually unchanged from year to year. The further growth of trade and economic ties within the EAEU is mainly due to the removal of existing obstacles and the qualitative improvement of the conditions for doing cross-border business. Various negative phenomena distort the integration agenda and substantially neutralize the positive effects of integration. The reasons noted above make the task of a comprehensive study of the economic and geopolitical factors of the integration of member states and new challenges to the integration processes urgent. To develop approaches to strategic planning for the development of the EAEU, adequate assessments of the use of the integration potential of the member states should be made and areas with the most significant reserves for building up integration cooperation should be identified. The full involvement of Armenia and Kyrgyzstan in the orbit of the Eurasian economic integration, as well as severe changes in the external economic situation that have occurred in recent years, require the actualization of possible scenarios for the development of the Eurasian Economic Union and the development of new tactics for the response of the EAEU and the Union member states to newly emerging factors and challenges affecting on integration processes.

METHODOLOGICAL APPROACH OF CLASSIFICATION OF THE ARCTIC’S GLOBAL PROBLEMS

The author describes the role of global problems in global economic relations, which are changing rapidly in the active world that affects the structure of global problems. This process is ongoing: in the course of it, some global problems lose their former importance and are reduced to the level of regional in scale and private in importance and the importance of others, on the contrary, increases. Moreover, new global problems are constantly arising and conceptualizing and some of them grow (upon reaching global, planetary proportions) from regional and private problems, the danger of which was underestimated, at one time. Others arise as a response of the system to sharp changes in its development accompanied by inevitable distortions, errors, miscalculations, modernization, carried out through the destruction and breaking of previous structures and etc. All this creates a kind of cycle of global problems in nature, which makes it difficult to identify and classify them. In the present article, the concept of classification of global problems of the Arctic in the system of world economic relations of the world. The author proposed a methodological approach and its classification of global problems of the Arctic.

FACTORS AFFECTING FRANCHISING DEVELOPMENT IN THE ECONOMY OF THE EUROPEAN COUNTRIES

The purpose of the study is to distinguish and analyze the factors that influence the development of franchising in the globalized system of world economic relations. The usage of franchising as a mechanism to activate the innovative activity in Ukraine will increase the effectiveness of innovation introduction in the economy. Methodology. The research is based on the scientific works and researches of domestic and foreign scientific. The methodological grounds for the study are general scientific and special-scientific methods, knowledge. The comparative method was used to compare the growth rate of franchising in different countries. The statistical method was used to establish data that shows franchising development in different economies. The interpretation was used to explain the results of the empirical study. The method of grouping and classifying was used to characterize the ratio of the leading industries in using franchising and types of franchises. Abstract-logical and graphic interpretation was used in the study of peculiarities of franchising development strategies. Method of analysis and synthesis helped to formulate conclusions. Results. A franchise form of business activity organization will enhance the efficiency of the Ukrainian economy and increase the competitiveness of national products in the European market, therefore the franchising strategies of European companies’ entry on the Ukrainian market were analyzed. In the context of integration, the efficacy of the franchise tool for business in Ukraine was proven. Practical implications. The study is devoted to a detailed analysis of how the network age affects the franchisor’s network size, and it is proven that the older the franchisor is, the more franchise points it has. It is analyzed that with the increase of all these indicators, the network size grows, and the percentage of own points has a little effect; a franchise fee also increases according to the franchise network size; the amount of royalty depends on the investment level and the franchise network size. Value/originality is the theoretical and empirical study of factors influencing the development of franchising. The highlighted positions can be used for further study of franchise development.

СПЕЦИФИКА ФУНКЦИОНИРОВАНИЯ МЕЖДУНАРОДНОГО БИЗНЕСА В КЛЮЧЕВЫХ СТРАНАХ ВОСТОЧНОЙ АЗИИ

The East Asian region plays an important economic role in the system of world economic relations, includ-ing one fifth of the world's population with a rapidly growing middle class and mobility that creates high consumer demand. The specifics of the functioning of international business in the key East Asian countries, including gov-ernment regulation, forms of doing business, characteristic features and stages of the formation of international business, differ significantly from those adopted in Western countries. Due to this, the study of the development and functioning of international business in the region is a relevant area of research. The article discusses the main specific features of the Asian business model, analyzes the specificity and forms of functioning of international business in the East Asian countries.