კონფერენცია

∘ Vladimer Papava ∘ Tamar Tapladze ∘
ON THE POSSIBLE CONTOURS OF THE WORLD ECONOMIC ORDER FOLLOWING THE END OF HYPERGLOBALIZATION

Summary

The paper examines the issue of the world economic order changing following completion of the hyperglobalization process, a process which came about due to Russia’s war in Ukraine and the introduction of economic sanctions against Russia by the West. It is shown that, in the conditions of confrontational globalization, it is impossible, in principle, to maintain the hegemony of any one country. Confrontational globalization, and the subsequent globalization with economic security, will lead the world order to multipolarity. At this stage, it is premature to talk about countries, with the exception of the United States and, most likely, China, that might become poles in this multipolar system.

Keywords: world economic order, hyperglobalization, turbulent globalization, confrontational globalization, globalization with economic security.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Vladimer Papava ∘ Tamar Tapladze ∘ ON THE POSSIBLE CONTOURS OF THE WORLD ECONOMIC ORDER FOLLOWING THE END OF HYPERGLOBALIZATION Summary The paper examines the issue of the world economic order changing following completion of the hyperglobalization process, a process which came about due to Russia’s war in Ukraine and the introduction of economic sanctions against Russia by the West. It is shown that, in the conditions of confrontational globalization, it is impossible, in principle, to maintain the hegemony of any one country. Confrontational globalization, and the subsequent globalization with economic security, will lead the world order to multipolarity. At this stage, it is premature to talk about countries, with the exception of the United States and, most likely, China, that might become poles in this multipolar system. *Keywords:* world economic order, hyperglobalization, turbulent globalization, confrontational globalization, globalization with economic security.