International economical system: tendencies and challenges of modernity




international relationship, international economical system, international trading, globalization, economical regionalization, finance crisis


In the article the main tendencies and challenges in the context of international economical system at the modern stage are considered.

It is pointed that the driving force of globalization of trading and technological evolution essentially have changed the international trading cards, low the costs of distance, increasing the efficiency of trading and international distribution of labour, especially as for the market of high technological products on the base of innovative development. It is observed the tariff reduction and raising standards. Tendency to the costs' reduction in international trading simply eliminates the traditional paradigm concerning the remoteness of the inhabitants of the planet from each other, which hinders trade. Trading obstacles have less in common with customs duties or administrative costs of boards crossing in comparison with regulatory differences in various areas such as health, safety or the environment. Safety precautions in international trading make new problems which are dissonant with ideological neutrality which regulates making obstacles for the mercantile world.

It is focused attention that together with acceleration, strengthening, promoting better integration and moving to a new level of development, globalization weakens the ability of a sovereign state to carry out independent political actions which are actually in real of economical policy. It more and more subordinates national economic policies to the logic of the world market, contributing to a radical transformation of existing economic and political structures into international relations, where systems of effective thinking and action are not limited to geographical boundaries. Among big number of disadvantages it can be highlighted two more significant: anti-democracy and the deepening of the division of powers in economic and political aspects on mainstream (progressive) and marginal which testify to the uneven distribution of globalization processes.

It is affirmed that in contrast to the uneven globalization, the phenomenon of economic regionalism emerged in the second half of the last century, reflecting the dynamic aspects of regional cooperation (the growth of socio-economic interaction, regional identity and consciousness) and is caused by an increase in the flow of goods, people and ideas within the local spatial unit. Peculiarities of new "open" regionalism in making international formal (institutes) and informal integration groups, purpose of which not only the liquidation of economical barriers but also increasing volumes of trading and scientific-technical, socio-cultural and financial co-operation. International regional co-operation becomes a factor of strengthening democratic and political stabilization, ensuring economic progress and improving life.

It is underlined the fact that impossible to ignore the influence of world finance crisis on the international economical relationships, systematical measures as for overcoming the consequences of which are being carried out today. The countries which suffer least from this and will become stronger in the future, transforming their economic potential into an important instrument of international politics.

Author Biography

Anatoliy Revenko, Kyiv National University of Culture and Arts, Kyiv

Сandidate of economic sciences, associate professor


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How to Cite

Revenko, A. (2018). International economical system: tendencies and challenges of modernity. Skhid, (2(154), 38–47.