The world economy is now essentially organized around a Tripler, macro-regional structure, whose three pillars are North America, Europe and East Asia.
The USA has been the pre-eminent force is the global economy for almost 100 yrs, having superseded the original industrial leader early in the 20. Century. Europe as a region is the world’s biggest trading area and primary focus of FDI. Without any doubt, the most significant global shift in the geography of the world economy during the past 40yrs has been the resurgence of Asia. ( The rise of Japan after WWII, The rapid growth of what come to be called the four tigers-Hong Kong, Korea, Singapore, Taiwan, The re-emergence of China and the Potential economic dynamism of India)
In the first years of new millennium, the global economic map is vastly more complicated than that of only a few decades ago. Although there are clear elements of continuity, dramatic changes have occurred. The overall trajectory (yörünge) of world economic growth has become increasingly volatile: short-lived surges (dalgalanma) in economic growth punctuated by periods of downturn or even recession. Within this uneven trajectory, however, there has been a substantial reconfiguration of the global economic map. Although a handful of older core economies still dominate international trade and investment flows, the most spectacular recent growth rates have been achieved by the East Asia NIEs. Without doubt, the most important single global shift of recent times has been the emergence of East Asia- including the truly potential giant, China. So, there have been big changes in the contours of the global economic map. The global economy can be described as a mosaic of unevenness in a continuous state of flux...