The national economy always acts in a dual capacity - as a life support mechanism for the population living in the relevant territory, and as a link in the global production chain. On the one hand, the international division of labor can be considered as the division of labor between nation-states. At the same time, the national economy is an open system that exchanges goods, services, capital and labor with the outside world to varying degrees and cannot exist without such an exchange. It is an integral part of the global reproductive system. In modern conditions, the deepening of the international division of labor is a simultaneous process of intensification and differentiation of exchange between such links. TWO ASPECTS OF WORLD ECONOMIC ANALYSIS The dual understanding of the modern world economy - as a single global production complex and as a set of national economies-has led to the emergence of the so-called geo-economic approach in the economic literature. It involves considering the world economy as a common geo-economic space that can be explored from different angles. On the one hand, it can be considered in the organizational and economic aspect. In this case, the global technical and economic division of labor, the subjects of which are individual enterprises, comes to the fore. In this context, the key subject of analysis is transnational production chains. Accordingly, in this case, the global system is conceived as a general system of production structures, regardless of their geographical location. From this point of view, there is no fundamental difference between trade and other types of economic interaction within and outside a particular State. Cross-border transactions differ from intra-national ones only in the additional costs that overcoming national barriers requires. On the other hand, it is possible to interpret the world economy in the commodity-value aspect, considering it as a set of national and regional economies, as a " set... marke ... Read more

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China Online
Beijing, China
24.06.2024 (21 days ago)
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