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Characteristics of globalization in the first decades of the 21st century

Author

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  • Florin Bonciu

Abstract

The paper aims to identify the main characteristics of globalization that are specific to the first decades of the 21st century. These characteristics reflect significant differences compared to previous periods, both because of certain processes of quantitative accumulation (primarily in the fields of economy and technology) and shifts in the global balance of power, and the manifestation of some phenomena with profound implications, such as those generated by deepening inequality and extreme polarization of wealth. The identification of the new characteristics of globalization and of their interaction leads to the idea of the need for a new world economic order, with features substantially different from the existing one.

Suggested Citation

  • Florin Bonciu, 2017. "Characteristics of globalization in the first decades of the 21st century," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 9(1).
    • Handle: RePEc:iem:journl:v:9:y:2017:i:1:id:2822000009636003
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    File URL: http://iem.ro/rem/index.php/REM/article/view/553/618
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    More about this item

    Keywords

    globalization; globality; new world economic order; balance of power;
    All these keywords.

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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