ТЕМА 4 . Ukraine’s role in the process of globalization and labour division

Globalization is a relatively recent phenomenon that has an enormous influence on the future of our planet. It elicits contradictory reactions from economists, politicians, scientists and ordinary people. In addition to its benefits, globalization has dangers and risks. It is responsible for environmental problems, the population explosion, extreme poverty, mass unemployment, etc. Ukraine must choose which globalization path to take.

Ukraine does not have macroeconomic stability. It is obvious to everyone that Ukraine is now in the economical, political and industrial crisis and the whole world is waiting to see how the country will emerge from it. Ukrainian choice was caused by economic turmoil and political upheaval. Metallurgy is one of the main industrial branches that provided the considerable growth in our country and before metallurgy has fallen into decay. There is a sharp increase it the inflation level. The prices began to rise fast, a lot of people are dismissed on grounds of redundancy, that’s why most people are thrown far beyond the poverty level.

All these above-mentioned problems seem to be very complicated. Thus, it should be mentioned that taxes are the necessary link of economic relations in society. Taxes and tax system are not only sources of budget revenues but are also basic structural elements of economy of market type. Obviously, without forming the rational tax system, not depressing entrepreneurial activity and allowing to pursue an effective budget policy, further valuable transformations of economy of Ukraine are impossible.

It would be good if the IMF and the World Bank cancel all loans given to developing countries with “emerging” economies for the sake of the world’s safety. Otherwise their economies would be doomed to be destroyed because of the short term debts, which these countries need to pay back. But on the other hand, if it have had cancelled, no organization including the IMF would have been looking forward to further negotiation with such countries and provided them with credits.

The developed world would like to see a strong Ukraine, one that is an integral member of the international community. For its part, Ukraine must do all it can, to meet the challenges of transition and become a valued and constructive player. Ultimately, our fate depends on us. If we take advantage of our opportunities, we will benefit greatly and so will others.