International Economics

THE “NEW WORLD ORDER” – OLD PHENOMENON OF THE MODERN TIME

Velcho Stoyanov - University of National and World Economy
Received: 22 Jun 2022
Revised:
Published:
Downloads: 0
Citations: 0
Issue 7/2008
JEL F02 F01

Abstract

"New world order" (declared by George Bush Senior and the Club of Rome in the end of 20th century) is not a novice concept but is deeply rooted in history. New, however, are the unique circumstances under which it is constructed: wide-range and dynamic liberal globalization, collapse (in 1989) of the two-polarities world with two main leaders and the reign of a single super-powerful hegemony (USA) but with emerging new rivals (separate states or coalitions); growing role and importance of regional economic formations (with the EU as a prototype) and global corporations in the context of growing and intensifying environmental and cultural crisis; the economic (crisis) regularly reminds if itself too ... The discrepancy and/or disparity between the emerging liberal global society and the lack of global governance is intensifying well, being expected to overcome the "new world order".

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