The Global Economy in a Significant Transforming Process of the Power Centers

Simona Moagar Poladian

Revista de Economie Mondiala / The Journal of Global Economics, 2010, vol. 2, issue 3

Abstract: The financial crisis that ongoing in 2008 had relocated the power centers from the developed countries to the emerging ones. China, Brazil, India and Russia would become recognized powers of the world in only one decade from now on. In the last 3 years, the governments of the most important world countries have given the test of crisis management. The modifications that have been positioned on the world level had enhanced the economic powers map. Over 3 decades of continuous growth, China has surpassed the Japan GDP volume and is the second biggest power after USA on the world level. IMF confirmed that the financial system is the Achilles heel for the world economic development. IMF analysts recommend to all states to maintain their support for financial sector. At the world level, the rate of economic growth substantially differs from one region to another, showing an unequal distribution. The rate of growth in the developed countries reached between 1 and 3.5 per cent and in the same time the emerging countries recorded a more advanced rate of growth up to 6 per cent to 9.5 per cent in Latin America and some countries from South East Asia.

Keywords: financial crisis; emerging countries; IMF; Latin America; South East Asia (search for similar items in EconPapers)
JEL-codes: F01 F60 O11 O50 (search for similar items in EconPapers)
Date: 2010
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