International Economics Essay Example | Topics and Well Written Essays - 3000 words

International Economics - Essay Example The major elements of the transition process comprise macro-stabilization, price and market liberalization (including international trade), restructuring and privatizing state enterprises, and redefining the role of the state" (IMF, 2002, pp. 90-91). The major problem of more and more interdependent world is the interaction of world structures, which are characterized not only by different levels of development, but also by different extent of an involvement in the world division of labour and the world economy. Waltz on expressing his neorealist conceptualization of the determinants of international behaviour claims, "International structure emerges from the interaction of states and then constrains them from taking certain actions while propelling them toward others" (Waltz, 2000, p. 11). The analysis of modern economic and integration processes allows allocating two basic tendencies. One of them is quantitative growth of countries incorporated in the various international economic unions and other international economic alliances that is the evidence of increase of globalization of economy. The other tendency is continuous perfection of forms and methods of realization of world economic integration that speaks about deep qualitative changes occurring in this process. At the present stage the international economic integration has reached global scales. Globalization of economy represents the maximum form of the international economic integration. It is expressed in formation and activity of interstate and international economic associations, and also in occurrence and development in modern community of the international economic institutes and trans-national corporations. The changing global economy is also "providing challenges to the European Union. Globalization of production, procurement, and distribution; e-logistics and e-transport; and outsourcing of what traditionally had occurred internal to a company or country have caused many government and private sector officials to rethink what types of investment and at what levels are necessary to remain competitive" (Caldwell, 2002, p 7). Each state is expressed in "structural and quantitative characteristics. For the world economy the international monetary system (IMS) will be considered as a structural characteristic. The growth rate of the gross national product of countries participating in international economic relations will be regarded as a quantitative characteristic" (NATO, 2006, p. 101). If early stages of the international economic integration have had only one form of its realization - the international trade, the stage of globalization alongside with it assumes moving of labour, capital, scientific and technical knowledge, and information in planetary scale. Thus, at a stage of globalization the international economic integration gets not only more significant quantitative char