Rising Economic Powers among Economies in Transition: Is There Enough Space on the Global Market?

Abstract

The chapter covers contemporary global developments, particularly international trade and economic integration, with involvement of the economies in transition, BRICS countries, and new rising powers of Latin America and Asia. The issues, addressed in the chapter, are related to the concept of globalization in general; specific challenges of globalization for the economies in transition, and application of those general challenges in selected countries (China, Russia, Brazil, etc.). Chapter is concluded with investigations of regional trade integration as a response to threats of globalization and expectations of a new global order with growing involvement of economies in transition (particularly, BRICS, the CIS, the EAEU, and other countries of Latin America and Asia).