DEGLOBALIZATION, SLOWBALIZATION AND TRANSFORMATION OF THE GLOBAL ECONOMIC ORDER: THE END OF NEOLIBERALISM
Abstract
In recent decades, globalization has established itself as a leading process determining economic, political and cultural interactions on a global scale. The dominant framework in which this process developed was neoliberalism – an ideology and practice based on the principle of free markets, deregulation, privatization and limiting state intervention in the economy. However, since the beginning of the 21st century, there has been an accumulation of systemic tensions that are gradually undermining the foundations of the neoliberal global order.
This article analyzes the processes of deglobalization in the context of the decline of the neoliberal paradigm that has dominated the global economic and political order since the end of the 20th century. The main research question is whether the observed manifestations of deglobalization represent a temporary deviation, conditioned by successive global crises, or evidence a structural transition beyond neoliberalism. The theoretical framework is based on liberal, realist and critical approaches in international political economy, with particular attention to the conceptual contributions of K. Polanyi and I. Wallerstein. The methodology includes historical and comparative analysis, drawing on statistical indicators, international reports and peer-reviewed academic research.
The empirical analysis shows that the 2008 financial crisis, the deepening of social inequalities, the COVID-19 pandemic and current geopolitical conflicts accelerate the breakdown of global value chains, stimulate the revival of protectionism and catalyze processes of regionalization. These trends erode the foundations of the neoliberal global order, built on the primacy of free trade, deregulation and minimized state intervention.
The conclusion supports the thesis that deglobalization should be viewed not as a cyclical phenomenon, but as an indicator of a transition to a new, multipolar and post-neoliberal world order. The consequences of this transformation pose significant challenges to international institutions and nation-states, while simultaneously revealing the potential for alternative political and economic models.
Keywords
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