Transformational Processes in Today’s Global Industry: Global North via Global South

Abstract

The paper proves that the dynamics and nature of structural transformations in the modern world economy are largely determined by the collision of industrialization 2.0 in the Global South and attempts to launch new industrialization in the Global North. To confirm this suggestion, basing on the World Bank data 3 ratings of the 50 largest industrial economies in the world for 2004-2020-2021 were compiled and examined for the first time. The research findings show the doubling of the Global South’s contribution to global industrial production for 2004-2021 and its dominance in the production and reserves of basic energy resources and key minerals for energy transition. The main constraints to industrial development in the Global South and its doubleedged consequences for the Global North are considered.