On the contemporary global economy

Technological development is the decisive factor in the economic processes of the 21st century. That is to say, scientific and technical advances allow substantial progress in the issuance of cryptocurrencies, in financial dynamics, in energy consumption and transport, in short, in industry and services. This implies that the countries that have control of technological production have the lead in economic growth and welfare. And this looks set to be the case for many years to come. There is also the need to change traditional energy consumption patterns in order to reduce climate change and its devastating effects on the planet. Renewable and sustainable energy. This brings with it more efficient, faster and more advanced means of transport, international interconnection, the movement of people, goods and merchandise on a scale hitherto unknown. It is the global economy that is characterised by the modification of familiar patterns and the opening up of new patterns of efficiency and productivity in large-scale production. The transition to a different, innovative globalisation has already begun.