GLOBALIZATION AND REGIONALIZATION: INTERACTION, CHALLENGES, AND PROSPECTS FOR THE MODERN WORLD ECONOMY

The article thoroughly examines the interaction between globalization and regionalization processes in the modern global economy, as well as their impact on the economic policies of countries, particularly in the context of global economic changes. It analyzes the role of integration unions, such as the European Union, in forming unified economic spaces, where the importance of synchronizing national economies for more efficient functioning of the common market is emphasized. Special attention is paid to the complexity of unification processes within integration agreements due to the preservation of national interests and cultural identity, which is a significant factor limiting full economic strategy unification among member states. In the context of globalization's impact on developing countries, the article addresses the issue of the dominance of transnational corporations in national markets, their intervention in the economy, and their interaction with local producers. It also discusses the importance of state support for national monopolies, particularly in cases like the activities of the Chinese corporation Huawei and the American company Tesla, to enhance their competitiveness in the global market through government investments, subsidies, and other economic incentives. The interaction between the public and private sectors in these processes, which creates new economic opportunities and challenges for national market development, is also considered. The article evaluates the complex processes of adapting national economies to global competition, especially through the need for consolidation during economic crises, which drives the formation of new economic models and integration structures. The article concludes that effective global governance is essential for maintaining the stability of the global economy, creating conditions for balanced national development within global economic processes. It is concluded that overcoming the challenges posed by globalization requires clear alignment of global and national interests, as well as effective interaction between different levels of economic integration to achieve stability and sustainable development.