POSTCOLONIAL INTERNATIONAL TRADE AS A TRIGGER OF INEQUALITY AND UNDERMINING OF GLOBAL SECURITY

Keywords: postcolonial international trade, international economic relations, global inequality, global security

Abstract

The article shows the impact of postcolonial practices of international trade on economic inequality, which in recent years has reached impressive proportions not only in former colonies, but also in developed Western countries, in particular the USA, becoming a trigger for the undermining of global security. There is an increase in subsidies, increased export controls and the introduction of investment restrictions due to the digital, debt and payment fragmentation of the countries of the world, which in turn deepens inequality, especially in former colonies. The colonial past continues to influence modern economic structures, contributing to inequalities between metropolises, former colonies and developing countries. These inequalities are manifested through unfair trade agreements, financial and economic asymmetries, as well as structural restrictions that negatively affect the industrial development of less developed countries, deepening inequality and preserving poverty. The G20 countries cannot demonstrate global leadership in trade openness according to the International Chamber of Commerce (ICC) Open Markets Index, but instead demand it from the least developed countries, which in many cases does not lead to job creation and economic growth. These policies consolidate the appropriate division of labor and contribute to the exploitation of natural and human resources in developing countries. Both phenomena - trade wars and economic selfishness contribute to the "fragility" of the geopolitical space. The use of the main ideas of postcolonial analysis allowed us to critically reflect on the consequences of international trade liberalization for the security of developing countries and global security in general. The relevance of these studies intensified during the Russian-Ukrainian war, which most researchers call the first colonial war of the 21st century. It is proposed that international organizations, in particular the WTO, monitor trade agreements to prevent asymmetric unilateral benefits for developed countries, which leads to a deepening of inequality.

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Published
2024-10-28
How to Cite
Sokhatskyi, O. (2024). POSTCOLONIAL INTERNATIONAL TRADE AS A TRIGGER OF INEQUALITY AND UNDERMINING OF GLOBAL SECURITY. Economy and Society, (68). https://doi.org/10.32782/2524-0072/2024-68-189
Section
ECONOMICS