THE PROCESS OF GLOBALIZATION BEFORE AND AFTER THE 2008 FINANCIAL CRISIS
Big financial crisis from 2008 has dramatically changed globalization process by reducing cross-border flow of capital, to a large degree. Crisis has shown numerous deficiencies and negative sides of this process, and there was a big displacement of world economy from developed western countri...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Faculty of Applied Management, Economics and Finance – MEF, Belgrade, University Business Academy in Novi Sad
2020-10-01
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| Series: | Journal of Process Management and New Technologies |
| Subjects: | |
| Online Access: | http://www.japmnt.com/images/Volume8/issue-4/4.%20THE%20PROCESS%20OF%20GLOBALIZATION%20BEFORE%20AND%20AFTER%20THE%202008%20FINANCIAL%20CRISIS.pdf |
| Summary: | Big financial crisis from 2008 has
dramatically changed globalization process by
reducing cross-border flow of capital, to a large
degree. Crisis has shown numerous deficiencies and
negative sides of this process, and there was a big
displacement of world economy from developed
western countries towards China and other countries
in accelerated development. Symptoms of deglobalization, such as populism, economic
protectionism and similar, haven’t significantly
changed the picture of constant integrative processes
worldwide. Undoubtedly, in future, globalization will
mostly be dependent on the three biggest and most
significant economic, political and social entities in
the world – USA, EU and China. Tail wind to an
overall globalization process is given by
Globalization 4.0, which is based on automatization
by digital technologies with use in not only
production processes, but in health care, education,
transport, supply industry as well. |
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| ISSN: | 2334-735X 2334-7449 |