CRISIS OF GLOBALIZATION AND TRANSFORMATIVE TENDENCIES IN THE GLOBAL ECONOMY (Kryzys globalizacji a tendencje transformacyjne w gospodarce swiatowej)

The severity of the first global crisis of the XXIst century shows its structural character. This is borne out by the nature of the problems it has brought about. Moreover, it has cast doubts over the further progress of globalization. Like any crisis, it has prompted long-term change of the hitherto model of economic development, directing it towards the idea of a sustainable global economy. This, in turn, requires international co-operation on the global scale. That co-operation will be determined by the global economic growth and other related factors such as domestic saving and foreign investments, demographic forecasts, healthcare and education progress, political stability and expectable economic policy, institutional transparency and trade liberalization.