New Trends in Globalization and TNCs from Asian Countries

Abstract

New trends in globalization are considered: some authors state that globalization is under threat, with the rise of protectionism and new labor-saving technologies. New trends in globalization of the 2000s include the increasing role of Asian countries in the world economy. In the first half of the 2010s, we can point out the growing importance of regional economic integration, including negotiations on the creation of regional mega-groups such as the Trans-Pacific Partnership. Possible future variants of the new world economic order, such as Globalization 3.0, Polarization, Islandization, and “Commonization” (version of E. Petersen and P. Laudicina), are depicted. Transnationals from Asian countries play an increasing role in the world economy. The author makes an attempt to show that TNCs from Asian countries are involved in these new trends in globalization: the increasing importance of internal and regional markets, the rise of robotics and automation, and the transfer of labor-intensive industries from Asian countries to “frontier” economies (some African countries).