Globalization as a leading trend in global development and its consequences at the end of the 20th and the beginning of the 21st centuries

The subject of the study is globalization processes actively occurring in the global economy in the late 20th and early 21st centuries. The focus of the research is the socio-economic and political consequences of globalization processes for world development. The goal of this work is a systematic theoretical investigation of globalization processes and their consequences for the global economy. In this study, the authors analyze the costs of globalization, manifested in the intensification of inter-country differentiation in levels of socio-economic development, marginalization of certain states and regions, a slowdown in their economic growth rates, an increase in conflict potential and associated military expenditures, which have prompted the activation of deglobalization trends in the world. The informational foundation for writing this work was provided by official data from the World Bank, the international information platform Statista, international analytical centers, information published in periodic scientific publications, and online resources. The research was based on a systematic approach to studying multi-level and hierarchical socio-economic systems. In the process of developing the research problem, the authors used dynamic, structural, and comparative analyses, synthesis, logical modeling, ranking, generalization, analogy, induction, and deduction. The theoretical basis of the presented research consists of fundamental analytical works dedicated to the analysis of globalization processes in the global economy. The authors reveal the stages of the development of globalization processes and present their theoretical foundation. The authors conclude that despite existing beliefs that globalization should lead to higher growth rates and improve the standard of living, this has not occurred in practice. While some countries managed to benefit from globalization, the economic situation in other countries has practically not changed or even worsened. The costs of globalization have been systematized: the marginalization of certain countries and regions accompanied by increasing unemployment, poverty, and inequality; the growing conflict potential in the world and associated military expenditures. The conclusion is substantiated about the significant slowdown in the dynamics of global trade and foreign direct investment after 2008, alongside the rise in tariff and non-tariff trade restrictions, and the widespread use of sanctions in international relations. A trend towards dynamically developing regionalization has been established, representing a fragmentation of the global economic space.

globalization, socio-economic development, liberalism, openness of the economy, regionalization, deglobalization trends, costs of globalization, marginalization of regions, increasing conflictogenicity, deglobalization