THEORETICAL FUNDAMENTALS OF GLOBALIZATION AND INTEGRATION PROCESSES IN THE WORLD ECONOMY

Abstract

The success of the economic development of any country in the world is determined by the successful or unsuccessful actions of government leadership. Such actions are based on macroeconomic policy, which in the conditions of ever-increasing openness of national economies is determined not least by the country's position in the global economic space. The article analyzes the essence of globalization and integration processes in the economy, in particular, highlights the forms of manifestation of the impact of globalization and integration processes on national economies. Globalization does open up the greatest opportunities for development, but the pace of its spread is uneven. The process of integration into the world economy is faster in some countries than in others. Those who have succeeded in achieving integration have higher rates of growth and poverty reduction. Improving living standards has created opportunities for the development of democracy and progress in solving problems such as protecting the economic security of the state. Economic "globalization" is a historical process that is the result of innovation in society and technological progress. This term refers to the ever-increasing degree of integration of the world, mainly through trade and financial flows. It is clear that globalization affects all aspects of socio-economic life in almost every country in the world, and this process is objective and irreversible. In a globalizing world economy, there is less and less space for national economic autonomy, which means that national governments are gradually losing control over the country's economic development.