Publications - Monographs and Scientific Edited Books

The global economy is more or less, always influenced by geopolitical factors, and its development and direction are in the hands of political representatives, especially key countries, which are often the source of decisions that have a positive or negative global impact. The contribution of the geopolitical factor to the development of the global economy this year (2019) is evident in the form of a significant increase in protectionist and retaliatory measures, which have grown into so-called "protectionist" measures trade war, especially between the US and China. The introduction of import duties by the USA and countermeasures by China have had a negative impact on global trade and investment and, ultimately, on global output.

In the current interconnected global economy, the economic stalemate between the two largest exporters of goods in the world has devastating wave effects. As a result of the trade war, China is facing major economic problems, manifested by cautious consumer spending, relying on economic growth supported by government spending and debt, and in addition, the country recorded its lowest production in seventeen years this year (Willis Towers Watson, 2019). ).

The direct or indirect negative impact of this trade war can also be registered in many major economies of developed or emerging and developing countries. The German economy, the economic locomotive of Europe, experienced a decline in gross domestic product in the second quarter of 2019 and Germany's economic activity is expected to decline again in the third quarter and enter a technical recession (Bilbao-Osorio, 2019). In any case, we should not underestimate the gravity of the risks involved in the world trade and currency war, the brexit confusion process or the financial vulnerabilities in some companies because of the high level of debt accumulated.

The aim of this monograph, which is the thirteenth in a series of publications of the Institute of Economics of the Slovak Academy of Sciences on the Development and Perspectives of the World Economy, is to analyze various economic events in the world from national, regional and global points. resulting from their long-term investigation. In the individual chapters, the team of authors used both primary and secondary available and licensed information drawn from international institutions (WB, IMF, WTO, FAO, ILO, UNCTAD, Eurostat, CPB, etc.) and other reputable scientific organizations and multinationals. The content of the presented monograph is intended not only for the professional and business public, but also for students of economical orientation of at least the 2nd and 3rd degree of study.

This year's scientific monograph is divided into eleven chapters. The first seven chapters deal with the evolution of global output and trade and the macroeconomic development of the three key economic centers within the developed and some emerging BRICS countries (China, India and the Russian Federation) due to their increasing importance in the world economy. In the last four chapters it analyzes selected current global and regional problems at the geopolitical and economic level and their impact on the global economy and selected topical issues that currently have a key multiplier effect on the global economy.