The expeditions of Columbus, Vasco DA Gama, Magellan, Ermaca have extended the boundaries of the planetmarket persistently, adding new regions to that. Economic ties with these regions were strong when the start of mass manufactory production of finished product within the XIX century. initial in Western Europe, and so in North America, Russia and Japan. These were straightforward and low cost goods. Steamships, railways and telegraphs contributed to their sale. As a result, by the tip of the nineteenth century, a worldwide marketplace forproduct and services had emerged.
At constant time, the movement of things of production (capital, labor, entrepreneurial skills, technology) magnified within the world. Flows of economic resources went in one direction - from the foremost developed countries to less developed ones. British, French, Belgian, Dutch and German capitals were an evident componentof capital accumulation in America and Russia, and European emigrants down the expanses of North America, African nation and Australia.
Then, the method of economic resource movement became a lot of complex: capital, entrepreneurial skills and technology began not solely to be foreign, however conjointly to be exported by medium developed countries, and underdeveloped countries actively participated within the export of proletariat. As a result, the international movement of things of production becomes mutual.
After the planet economy was fashioned at the flip of the XIX-XX centuries, it's undergone vital changes. within the method of evolution of the fashionable world economy, many stages square measure singled out:
1) The tip of the nineteenth century was before the primary war. This can be the stage of strengthening the openness of the planet economy. The staple orientation of world trade prevailed. However, the share of exports was perpetually growing;
2) The amount between the primary and Second World Wars. it had been characterised by instability and crises that accompanied the event of the planet economy. The trend towards disorder of national economies and economic policy, similarly because the decline within the role of exports, increased;
3) The amount 1950-70-ies of the 20th century. The stage is characterised by the emergence of integration teams (EU, CMEA), the method of trans nationalization, the active movement of technology, entrepreneurial skills and capital, and also the recovery of the world loan capital market. Socialist and developing countries have begun to say a special role within the world economy.
4) the Nineteen Eighties and Nineties. Developed countries square measure stepping into the age of post-industrialization, several developing countries square measure bridging the economic gap (China and also theNIS), and former socialist countries square measure moving to a free enterprise.
5) The tip of the twentieth century — the start of the twenty first century — the fashionable stage of the planeteconomy formation. it's characterised by Associate in Nursing magnified degree of geographic development, the formation of international productive forces, and also the strengthening of economic interaction and reciprocity. The entry of the planet economy into a replacement stage of development is in the middle of the intensification of cooperation between the countries within the economic sphere.
Indicators of world economic development
To analyze the economic state of affairs of the planet economy, a system of indicators characterizing the state and dynamics of the fashionable world economy is employed. the foremost necessary of them are:
1) The national wealthTof the country as an entire and per capita. National wealth is that the mixture of accumulated resources of the country reduced by the price of its monetary obligations.
In the world follow, it's customary to incorporate such parts as productive assets, non-productive assets (land, homes and used natural resources), basic intangible assets (intellectual property) and monetary assets (money, gold, securities, etc.) within the national wealth.
2) Gross domestic product (GDP) — value of ultimate product and services created on the territory of a given country for a year — one in all the foremost oft applied indicators of the planet economy. Value per capita is that the most vital indicator of the planet economy and is sometimes calculated in United States of Americagreenbacks. value rate of growth is additionally calculable because the most vital indicator of the country's economic process, most frequently on Associate in Nursing annual average. The indicator of 3-4% could be atraditional rate of economic process of the country. value rate of growth of 6-10% per annum is high;
3) indicators of the country's participation in international economic relations. They're numerous. Among them, the foremost oft used indicator is that the foreign trade quota — the proportion of exports and imports to value. Another indicator is foreign trade turnover per capita, calculated because the average worth of a country's exports per subject.