Nowadays, countries that are not dependent on world development economically, politically and culturally are rarely found. In particular, the global economy and economic relations at the global level affect the economy of each state individually. The only difference is how much a particular power is able to apply measures in a timely manner so that its foreign exchange market and labor market do not suffer from external influence.
What is the global economy?
Under the global (or international) economy understand the global economic system, which has many levels and unites the economies of different countries of the world. This association takes place on the basis of the international division of labor through a system where interethnic economic relations play a major role.
More briefly, the world economy is defined as a combination of farms of different nations, as well as non-state structures, which are united by international relations.
The concept of an international economy appeared due to the emergence of an international division of labor. Experts note that this entailed, on the one hand, the distribution of production between different powers, and on the other, the unification of specializations. At the same time, economic relations between the countries have been and remain to this day.
The concept of economic relations
In a general sense, economic relations are understood to mean such relations between people that take shape in the process of exchange and consumption of goods, production, distribution of goods, etc. If we are talking about international economic relations, then international economy and international economic relations go hand in hand. (MEO).
As for the latter, in the process of relations in the economic sphere, transnational corporations, international subjects of the world economy, as well as entire countries, regions or regional groups can be involved.
Forms of MEO
Economists have identified the following main forms of international economic relations:
- international cooperation in the production of goods;
- exchange of scientific and technical achievements;
- international specialization of production and work of a scientific and technical nature;
- international trade;
- relations between states, among which the most important are monetary, information, credit;
- cooperation of powers in resolving global problems.
International economic relations are dependent on the international division of labor (MRI). Based on this, the main forms and directions of MEO are determined by the fact that this division of labor is gradually moving to a new level and acquiring a new type.
Types of the international division of labor
It is worth noting that there is a significant difference between the different types of MRI. So, the general type implies trade and exchange of goods of manufacturing and mining industries between specific states. If MRI is of a private nature, then this will lead to the predominance of trade in finished products of various industries. And they single out the division of labor of a single type: this refers to specialization at some stages of production and stages of the technological cycle. Thus, conditions are created for a more dynamic growth in trade volumes and the exchange of products at the global level.
Currency and credit relations
Leader among various forms international relations in the field of economics, monetary-financial or monetary-credit relations are rightfully considered. What are they? This is a relationship of a financial nature that develops between subjects of various powers. In other words, a given economic relationship may arise between by residents and non-residents.
There are also cases when monetary relations develop between the subjects of law of the same state. Here we are talking about currency values, to which the right of ownership passes. In addition, other property rights may be related to foreign exchange transactions.
international trade
At the moment, almost all countries of the world are participating in foreign trade, that is, they are directly related to the system of international commodity-money relations. In simple words, international trade is understood as a combination foreign trade different states.
For the first time, Italian economists in the 12th century spoke of trade at the world level. Trade development is a critical factor in the development of the entire global economy. There is an opinion that participation in trade provides its participants with a lot of advantages. One of the most important advantages is that there is international competition, which leads to the need to improve enterprises and manufactured products.
Problems of MEO
According to experts, today the following main problems of economic relations can be distinguished:
- creation of international transport corridors;
- creation of free economic zones;
- problems of the internet economy.
Under the international transport corridor we understand such a transport system that concentrates various types of transport on general directions, including road, rail, sea, pipeline, as well as telecommunications. Such transport corridors contribute to the development of global economic and international economic relations.
Free economic zones (or special economic zones) are certain territories that have favorable economic conditions for local and foreign entrepreneurs. Such zones are created with the aim of developing a power as a whole or a specific territory separately, where foreign trade, social, general economic and regional problems are being solved.
As for the Internet economy, new economic relations are developing here that are aimed at solving many global problems. It raises questions about the security of data of business entities in the global Internet space, about the possibility of simplifying trade and product exchange.
