FOREIGN ECONOMIC ACTIVITY IN THE CONTEXT OF THE CURRENT STAGE OF GLOBALIZATION AND POST-WAR RECONSTRUCTION OF THE DOMESTIC ECONOMY

Abstract

Since Ukrainian economy is an open one, all major global-trade trends apply to it as well. The serious losses of the country's export potential during the war and the need to prioritize post-war development add the importance, of this research. After the Great Recession, world trade was growing slower than the world output. Subsequent events: the US-China trade war, the pandemic, and, finally, Russian aggression against Ukraine, only strengthened this trend. The main goal of the article is to analyze the existing forms, of the modern stage of globalization (deglobalization, slowbalisation, onshoring, friendshoring), to check how the slowdown of international economic integration was reflected in the indicators of Ukraine's foreign economic activity. The dynamics of the main indicators was analyzed: the volume of foreign trade, the balance of payments, the volume of private remittances and direct foreign investments. The results of the study do not allow us to draw an unequivocal conclusion about the reflection in the given indicators of the slowdown in the expansion of world trade. This once again shows the complex and contradictory nature of the new type of globalization. It is likely that in the short- and medium-run periods, the consequences of these world processes are still barely noticeable, so they should remain one of the directions of further research. A detailed analysis showed that multidirectional trends coexist currently. For example, the globalization in trade in the EU countries and world trade in services have not reached their peaks. Taking this into account, Ukraine has a good opportunity to take advantage of the opportunities and fundamentally change the structure of its exports, increasing the share of information and communication services in it. Under these conditions, Ukraine's course towards European integration appears to be well-founded and unmistakable. The deglobalization trend absolutely rightly affected the aggressor country, which has become more closed to the rest of the world and has already felt a reduction in exports, imports, a drop in the technological level, and labor productivity. Speaking in terms of the global-trade buzzwords, friendshoring for Ukraine will prevail over the neighborhood effect for a long time.