Eastern Vector of Transformation of the World Monetary System

The article discusses the crisis-prone nature of functioning modern monetary system, which is manifested by low efficiency large-scale financial measures aimed at stabilizing international economic and relations. Based on analysis historical role countries East in world economy, objective reasons for transformation system are revealed. It shown that potential dominance economy largely determined dependence previous development. significant size wealth, territory population allowed eastern monarchies until middle 19th century to develop their economies a relatively isolated mode from outside world. However, voluntary rejection introduction own technological achievements neglect conduct foreign trade has made chronically dependent West. inability Great Britain (as outgoing hegemonic country) abandon first quarter 20th use its national currency as money transfer this privilege United States new leader economy) led destruction order. subsequent period coexistence two parallel systems, independently serving alternative socio-economic models conditions bipolar order, once again proved possibility making high-quality scientific, breakthrough without direct interaction between West arena. On contrary, return unipolar model globalization another rule-based At present time, order stabilize relations, it objectively necessary form standard, taking into account enduring significance global interests most dynamically developing East. inclusion management processes seems quite natural, given growing GDP, exports assets. problem, however, that, despite undeniable power, not yet able offer unique (different Western) development shared other This increases risks joint drift towards adoption universal Western (Anglo-Saxon) simulacrum institutional interaction.