I.

The main actor of the world economy the world economy is a unity formed by the interconnection and mutual restriction of sovereign states, regional economic groups, enterprise units, commercial and financial institutions and organizations.

Sovereign states, transnational corporations, international organizations and national groups constitute the main actors of the world economy.

Their various economic links established through international production division, trade, finance and other ties and mechanisms constitute the main content of the contemporary world economic system and promote the operation of the world economy.

In the world economic system, sovereign states are still the basic actors, the status and role of multinational corporations have increased significantly, and international economic organizations have become an important role in contemporary world economic coordination and cooperation.

(I) state actors in the contemporary world economy since the formation of the modern world system, sovereign states have been the basic actors of the international system and the international community.

Sovereign states are not only the absolute and most important actors in the international political system, but also the basic actors in the world economic system.

There are more than 200 sovereign countries in the world today.

According to the social system, they can be roughly divided into socialist countries and capitalist countries.

According to economic types, there are developed capitalist countries, socialist countries and developing countries.

The economy of developed capitalist countries still occupies a leading position in the contemporary world economy.

After the war, due to the adjustment of production relations, the promotion of scientific and technological revolution and the basic stability of the world political situation, the productivity of developed capitalist countries has developed rapidly.

Although there are serious internal contradictions in the economy of capitalist countries and many economic crises have occurred, the reality shows that the capitalist relations of production still have considerable vitality.

On the basis of international division of labor and economic globalization, their economic relations and economic coordination are becoming closer and more frequent.

At the same time, it also expands the space for the development of capitalist economy.

The economy of socialist countries has experienced ups and downs after the war, and its development and changes are the most intense and complex.

During the post-war period, the socialist countries developed rapidly and their economic strength was continuously strengthened.

However, due to the system and the separation from the world market, they gradually lost the opportunity to make use of the international economic division of labor and interdependence and the new scientific and technological revolution, which led to the slow and stagnation of economic development and eventually led to political and social disasters.

The drastic changes in Eastern Europe and the disintegration of the Soviet Union in the late 1980s and early 1990s have seriously frustrated the economic development of socialist countries.

Among the few remaining socialist countries, only China has found the way to develop the socialist market economy on the basis of summing up experience and lessons, and has boldly explored and reformed ownership relations and market operation mechanism, so as to achieve great achievements in economic development in a relatively short time, At present, the economic status of socialist countries in the world economic system has been quite weak, and it still needs quite arduous efforts to make their national systems mature and stable through reform.

The economies of developing countries are an emerging force in the world economic system.

Due to historical reasons, most developing countries have serious dependence on developed capitalist countries.

After the war, developing countries as a whole have made gratifying achievements through unremitting efforts.

However, after the 1980s, developing countries generally fell into serious economic difficulties and crises and were forced to carry out adjustment and reform.

Different regions and countries in Asia, Africa and Latin America also began to embark on different roads.

The different speed of its development has led to the widening gap in the development level of developing countries.

By the end of 1980s, a number of newly industrialized countries and regions had begun to step into the ranks of developed countries and regions.

A number of newly industrialized countries are accelerating their development and rising rapidly.

Some least developed countries are mired in economic difficulties and debt.

Three different types of national economies cooperate and compete in the world economic system.

Developed capitalist countries have always occupied the dominant position, while socialist countries and developing countries are at a disadvantage.

After the cold war, with the development of world economic globalization and integration, the economic relationship between developed capitalist countries and socialist countries has become closer and closer, and gradually integrated.

Now, although developed countries can no longer rely on political privileges to directly plunder developing countries, they still exploit and control developing countries through economic means such as international trade, technology transfer and capital export by relying on their strong advantages in production, technology, trade, capital, market and so on.

For a long time, developing countries have launched an active struggle to oppose the control and deprivation of international monopoly capital, get rid of dependence on developed countries and strive for the establishment of a new international economic order.

However, there are still many difficulties and twists and turns in realizing the comprehensive improvement of North South relations.

(II) transnational corporations are the main market players in the operation of the contemporary world economy.

Multinational corporations refer to companies and enterprises that conduct business activities in two or more countries at the same time.

They include parent companies and their branches set up abroad.

They are market subjects integrating investment, trade, finance, services and other economic functions on the world economic stage.

Multinational corporations were born in the 16th and 17th centuries.

Until the end of the 19th century and the beginning of the 20th century, industrial monopoly enterprises that really have the organizational form of modern multinational corporations appeared.

They are mainly concentrated in manufacturing, mining and oil production sectors.

Compared with the whole economic activities, the proportion is very small and the impact is not large.

After World War II, multinational corporations flourished.

In 1970, there were about 7000 transnational corporations in the world, which increased to 36600 in the early 1990s, and their foreign subsidiaries were 174900.

According to statistics, at present, the total output value of transnational corporations accounts for about 40% of the world’s total output value, 50% of the world’s total trade, 80% of industrial research and 90% of production technology.

It accounts for about 34% of the world’s total technology trade and 90% of the technology trade to developing countries.

It has become increasingly prominent in international economic activities.

Multinational corporations are highly internationalized monopoly capital organizations, and their business goal is to pursue high monopoly profits to the greatest extent.

Its central activity is outward direct investment.

After the mid-1990s, there has been a new round of climax of international direct investment, and the position of western developed countries as investors has further improvedIt provides a key place for countries to negotiate and mediate trade disputes.

Its establishment and operation has greatly promoted the growth of world trade, is of great significance to the in-depth development of Global trade liberalization, and also effectively promoted the process of economic globalization.

(2) International Finance has become the hub and core of the world economy.

International finance is the international financing of funds, that is, financial institutions operate monetary funds through financial instruments such as stocks, bonds and foreign exchange to realize the circulation of huge monetary funds, so as to maintain the operation of the world economy.

In the early post-war period, according to the Bretton Woods Agreement, the US dollar was basically the only international currency and occupied the dominant position in international finance.

In the late 1950s and early 1960s, with the completion of post-war economic recovery, the major Western capitalist countries successively abolished foreign exchange control and implemented multilateral payment, which greatly improved the openness of financial markets.

The differences in interest rates among countries make private capital flow on a large scale through arbitrage and arbitrage in the international financial market, which inevitably intensifies the “currency war” between governments for gold reserves and limiting capital flow, and eventually leads to the collapse of the Breton forest system with the fixed exchange rate system as the core.

International monetary relations have experienced violent turbulence and global balance of payments imbalances are serious.

Reforming the world monetary system has become a central issue in the field of international finance.

In 1976, the board of Governors of the International Monetary Fund held a meeting in Jamaica and reached the Jamaica agreement amending the International Monetary Fund Agreement.

Since then, Jamaica’s “floating exchange rate system” has formed a new feature, that is, its international monetary system.

On the one hand, it gives governments an important means to solve the imbalance of international payments, that is, the means of exchange rate change, which strengthens the regulation of international payments to a certain extent and is conducive to the normal operation of the world economy.

On the other hand, it also makes the international monetary system more complex and difficult to control.

At present, international finance is the field with the highest degree of integration in the world economy.

The progress of science and technology, the socialization of production and the improvement of internationalization require a perfect financial market to serve financing and investment, thus promoting the expansion of the international financial market.

The development of communication technology and electronic network technology provides a material and technical basis for financial integration.

All financial institutions and financial markets in the world are connected through computers, telephones, telegrams, telexes and other means.

The procedures for international capital settlement and allocation are simplified and the cost is greatly reduced.

An all time zone and all-round integrated international financial market without national boundaries has been formed.

In this context, the financial policies and financial operations of various countries and regions have increasingly transcended national boundaries and become an international policy action.

On the whole, financial integration promotes the internationalization of production and capital, promotes the development of international investment, makes a country’s economic scale not completely subject to its domestic savings and capital accumulation, and creates favorable conditions for newly industrialized countries and regions to realize economic take-off.

However, the rapid development of international finance has also increased economic risks for all countries.

If it is not prevented and resolved in time and effectively, a very destructive financial crisis will break out.

When finance becomes the hub and core of economic operation, the financial crisis will immediately lead to a comprehensive economic crisis and political and social unrest.

Since the 1990s, Mexico’s financial crisis, East Asia’s financial crisis, Russia’s financial crisis and the recent Argentina’s financial crisis have erupted continuously.

The frequency, speed and harmfulness of their outbreak are mostly surprising.

(III) international investment has become a catalyst for the operation of the world economy.

Economic globalization has brought closer economic ties between countries.

The development of international division of labor in breadth and depth, the rapid growth of multinational corporations, the progress of communication and transportation technology, and the expansion of international financial markets have all promoted the flow of capital around the world, which have promoted the rapid expansion of the scale of international investment, In turn, the rapid growth of international investment has become the engine and catalyst to promote the development of contemporary world economic globalization.

During the post-war period, the United States and Britain were the world’s largest investors.

Then Japan and Federal Germany stepped on the stage of the world’s largest investors.

The United States has replaced Britain as the world’s largest investment target.

After the 1980s, the “four little dragons” in Asia became an important member of foreign investment, and international investment was more concentrated in developed countries.

After the 1990s, the clear division of labor between international direct investors and investment target countries was replaced by more balanced regional investment flows.

The trend of intra regional investment surpassing inter regional investment is more obvious.

At the same time, the field of international investment is more diversified, and the investment in service industry is increasing rapidly.

In the mode of international foreign direct investment, it has also shifted from directly setting up factories and “entering and establishing branches” in the 1960s and 1970s to large-scale acquisitions, merging foreign enterprises and raising funds from abroad.