The essence and stages of formation of the modern world economy

This article examines the essence of the modern world economy, its stages of formation, and its development processes. The historical stages of the world economy—from the period of traditional international trade to industrialization, capital export, the post-war regulatory system, globalization, and the digital and innovative economy—are consistently analyzed. The paper also explores the concept of the world economy, the international division of labor, and the classification of countries according to their level of economic development. Furthermore, the economies of leading industrialized countries such as the United States, Japan, Germany, France, the United Kingdom, and Italy are analyzed in terms of gross domestic product (GDP) and their role in the global economy. Special attention is given to the impact of globalization, innovation, and digital technologies on the modern world economy.

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