Trends in the development of the world monetary and financial system

The article analyzes some trends in the development of the global monetary and financial system. As the first trend, the system's desire for currency polycentrism and de-dollarization is examined. Further, the paper considers trends related to the changing strengths of global financial centers and the influence of the green agenda, which is expressed in a strong gap between Western and other countries in terms of compliance with the principles of Environmental, Social and Corporate Governance, the requirements of the Paris Agreement, as well as the adherence to the goals of sustainable development. Particular attention is paid to the potential looping of Western capital associated with this. The final part of the analysis is devoted to the digitalization of the global economy and the development of central bank digital currencies. The author identifies currency polycentrism, the regionalization of the world economy, the change in the strength of world financial centers, the growing gap between countries in terms of the green agenda, the emergence of digital currencies and more fierce technological rivalry between countries as trends in the decentralization of the world monetary and financial system.