Tendencies of the leading world economies in the second decade of the 21st century: The global power rebalancing and the consequences for Serbia
The financial and then the economic crisis of the late 2000s dramatically undermine existing global forms of power. For the first time in modern history a nonWestern country (China) became the first industrial power in the world and the largest global exporter. The U.S. still has by far the largest...
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| Format: | Article |
| Language: | English |
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University of Pristina in Kosovska Mitrovica, Faculty of Economics
2013-01-01
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| Series: | Ekonomski Pogledi |
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| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/1450-7951/2013/1450-79511303045N.pdf |
| Summary: | The financial and then the economic crisis of the late 2000s dramatically undermine existing global forms of power. For the first time in modern history a nonWestern country (China) became the first industrial power in the world and the largest global exporter. The U.S. still has by far the largest economy, the magnitude of military power compared with that of potential adversaries is much greater, its level of political influence in the international system is unprecedented. However, indicators show that China's military spending will surpass the United States', its economic power will surpass the United States (at the beginning of the next decade), while the political influence of the U.S. will remain strong, but not nearly as strong as today. All this clearly indicates that the world is entering into some kind of a multipolar international system. The changes on a global scale are of increasing importance for domestic policy makers as well, having in mind multi-vector foreign policy of our country, which involves intense economic and political relations with the EU, Russia, the United States and China. |
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| ISSN: | 1450-7951 2334-7570 |