World Economy and International Business: Theories, Trends, and Challenges (Contributions to Economics) by Alexander Bulatov

World and Global Economy

World and Global Economy, Global 
Business Environment, and International 
Business: Nature, Formation, 
and Structure 
Alexander Bulatov 
Abstract This chapter provides some notions that will be often used in the subse-

quent chapters, distinguishes major actors of the global economy, analyzes the histor-

ical evolution of the global economy and international business, and gives a brief 
typology of the world economy and international business. In the end, some clues to 
the statistics of the world economy and global business environment are provided. 
1 Introduction 
When we study the world, we are typologizing it. This chapter provides some notions 
that will be often used throughout the book, distinguishes major actors of the global 
economy, analyzes the historical evolution of the global economy and international 
business, and gives a brief typology of the world economy and international business. 
In the end, some clues to the statistics of the world economy and global business 
environment are provided. 
2 Notions of the World Economy and Global Economy, 
International Business, and Global Business Environment 
2.1 The Notion of the World Economy and Global Economy 
The world economy, in the shortest definition, means a set of all the national 
economies of the world. If the world economy is measured on the basis of annual 
volumes of all national GDP, then in 2021 it was close to $90 trillion (about $140 
trillion at purchasing power parity—see below).

World Economy and International Business: Theories, Trends, and Challenges (Contributions to Economics) by Alexander Bulatov