TENDENCIES OF THE GLOBAL ECONOMY IN THE SECOND DECADE OF THE 21ST CENTURY

Abstract

According to World Bank recent report global GDP is projected to grow from 2.4% in 2013 to 3.2% this year, stabilizing at 3.4% and 3.5% in 2015 and 2016, respectively, with much of the initial acceleration reflecting a pick-up in highincome economies. The outlook for most rich countries is brightening and 2014 holds the prospect of synchronised expansion in the US, the euro zone and Japan for the first time since 2010. This will boost demand in emerging markets and push aggregate global GDP growth in 2014 to its fastest rate in four years.

The financial and then the economic crisis of the late 2000s dramatically undermine existing global forms of power. Indicators show that China's economic power will surpass the U.S. (at the beginning of the next decade), but despite that the U.S. will remain the leading global power and over the next decade, thanks to its strong diplomacy, network of global alliances, military supremacy and the dominant cultural pattern. Europe will continue to be focused on itself - on issues such as EU enlargement and repairment of the effects of crisis. Asia will remain the fastest growing region in the coming years as the economic indicators of the continent are in very good condition.