WORLD STRUCTURAL CRISIS AND TRANSFORMATIONS OF THE GLOBAL FINANCIAL SYSTEM Cover Image

МИРОВОЙ СТРУКТУРНЫЙ КРИЗИС И ТРАНСФОРМАЦИИ ГЛОБАЛЬНОЙ ФИНАНСОВОЙ СИСТЕМЫ
WORLD STRUCTURAL CRISIS AND TRANSFORMATIONS OF THE GLOBAL FINANCIAL SYSTEM

Author(s): Oleg Bilorus
Subject(s): Economy
Published by: Institute of Society Transformation
Keywords: world structural crises; financial globalization; financial oligarchy evolution; financial neo-convergence; transformation of global and national financial systems

Summary/Abstract: Problems of the world structural crises under conditions of transition to the social-technological mode of production, based at technetronic-intellectual system, are under the author’s review. The main problems of the world financial-economic system in conditions of the forced globalization and postindustrial system of financial-economic globalism formation are discussed. In the article, problems of present global structural crisis in conditions of transition to the new socially-technological way of manufacture based at technetronic-innovative way are considered. The state-corporate system of globalism is defined as the modern form of economic imperialism, which represents global money power, as well as historically out-of-date economic system of personal profit. It is underlined that Eurasian globalism is one of the specific transitive capitalist systems with totalitarianism tendencies, oligarchism and social injustice. Structural crisis emergence in financial sector of the countries, which have passed from old industrial to new postindustrial economy are analysed. In particular, it is defined that computerisation and internetization of the financial sector have given powerful spur to virtualisation and the whole economy in result. Thus, the financial sector has got off the real economy and the governments lost control under the financial sphere. The urgency to create the global structure (the financial world government) with wide control and coordination functions as the counterbalance to global money power is proved regarding to the deepening and aggravation of currency exchange conflicts between many countries in conditions of financial and economic world-system globalism formation and strengthening of the global competition. It is proved that in the context of global financial world-system transformation, a priority imperative of the Ukrainian state policy is constant strategic orientation on multilateral global financial cooperation, a three-component basket of global currency (dollar, euro, yuan) in full conformity with macroeconomic prospects of the state international cooperation directions (the USA, Europe, Eurasia, Asia). The necessity of the new integrated national strategy of growth until 2030 development is defined under resources and potentials mobilizing as well as endogenous factors for the social and economic development of Ukraine. It will help to increase its domestic economy international competitiveness in the world-system severe constraints of globalism.

  • Issue Year: 2014
  • Issue No: 07-08(1)
  • Page Range: 4-7
  • Page Count: 4
  • Language: Russian