Global economy after the shock of the first semester of 2020: old problems in new conditions

The events of the first semester of 2020 exposed even the deeper crisis of the global economy than pessimists of all sorts predicted. The COVID-19 pandemic combined with the crash of oil prices and volatility of all branch and regional markets are to be a subject of studies for many years. However, it is already evident that the pandemic served no more than a trigger for the old problems existing long before 2020. The era of “Globalization-1” achieved its official closing date. Starting from the second quarter of 2020 we face the formation of the new global economy where old development trends in new combinations would define the novel worldview. The article on the one hand shall reveal the causes of the current economic crisis, and on the other - prove that the pre-pandemic economy anyhow had been in such a vulnerable state that any large-scale influence would have led to a full-blown crisis.