ADVANTAGES AND HAZARDS OF GLOBALIZATION TO THE WORLD ECONOMIC ORDER (Korzysci i zagrozenia wynikajace z globalizacji dla swiatowego ladu gospodarczego)

An analysis of the process of globalization enables an estimation of the benefits and losses that can affect the stability of the world economic order. The basic influences on the system of world economy include a variety of socio-economic and civilizational-cultural issues. Among them of special importance in recent years is the asymmetry in the development of particular countries and consequences of the world crisis for financial globalization. The presented considerations show that it is difficult to trace a clear boundary between the benefits and hazards that result from globalization. The building of harmony in world economy is hampered by the fact that globalization is as yet incomplete and unfinished. Moreover, numerous political, social and economic problems emerge, the overriding one being the improvement of the fate of two billion people who live in poverty. Unfortunately, there is at present no one universal mechanism that would eventually eliminate the hazards entailed by globalization and stabilize the world's economic system.