Implications of the economic crisis on the balance of power, world governance and economic paradigm

The paper presents the new dimensions of globalization during the first two decades of 21st century. These dimensions include new centers of economic power, new meanings for regionalization and new decision structures such as G- 20. Starting from the fact that the economic crisis that began in 2008 affected in a different way various countries of the world economy the authors show that a true multi-polar structure emerges and this requires a new development paradigm. This new paradigm has to depart from the quantitative dimension and propose a new set of values that will accommodate both the increase in the number of population and the limits of the existing resources. The authors conclude that a significant part of the new paradigm should be a new type of world governance involving all significant actors.