Possible Changes in the World Economic Order with the Transformation of Globalization and the “Middle Corridor”
Abstract
The paper examines the features of changes in the world economic order, changes mainly caused by the transformation of globalization. It is shown that the COVID-19 pandemic put an end to hyperglobalization and was replaced by turbulent globalization, which then gave way to conformational globalization due to Russia’s war in Ukraine and the West’s economic sanctions against Russia. It is suggested that confrontational globalization will be replaced by globalization with economic security. In this case, the future contours of the world economic order will be based on such a configuration that a multipolar system will be created in which no one country will occupy a hegemonic position. The paper also examines the significance of the so-called “Middle Corridor”, one of the corridors of the Chinese ‘One Road, One Belt’ project, which will pass through Azerbaijan and Georgia. Countries both supporting and opposing the implementation of the “Middle Corridor” have been identified.
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