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Reading: Who are the subjects of the global economy?
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Who are the subjects of the global economy?

February 25, 2025
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Subjects of the global economy are structures and individuals that influence the global economy as a whole. Among them are the following.

States. They establish rules for conducting economic activity on their territory, and also form the global economic structure.

International economic organizations (IEO). Through participation in them, states regulate international economic relations. IEOs are divided into universal and specialized. Universal ones include, for example, the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC), etc.

Specialized IEOs regulate a certain economic sphere. For example, the Organization of the Petroleum Exporting Countries (OPEC), which includes many oil-producing countries. There are also IEOs that deal only with financial activities. These are the International Monetary Fund, the European Bank for Reconstruction and Development, and others.

Transnational corporations (TNCs). These are global corporations whose divisions are located on the territory of several states. The largest global TNCs include, for example, Walmart, Apple, Amazon, Exxon Mobil.

Transnational banks (TNB). These are large financial organizations that have a wide network of representative offices in different countries and control currency and credit operations on the world market. Often, it is their financial services that TNCs use. Such banks include, for example, Bank of America, Citigroup, Sberbank.

Financial-industrial groups. These are associations of companies and banking institutions for joint activities. TNCs and TNBs often join such groups. These include, for example, Gazprom.

Individuals who can personally influence global economic processes. These are heads of state and transnational corporations, large investors.

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