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The aim of the study is to study the transformation of India’s industrial policy and the changing role of human capital during its implementation and transition to a model of selfsustaining economic growth. Since 1947, India’s industrial policy has undergone several significant rotations, while a number of provisions remain relevant today, simultaneously affecting and strengthening the role of human capital. One of the key problems considered in the work is the very high share of unorganized business, which employs, according to various estimates, from 90 to 93 % of the total workforce, which entails both social and economic problems. The methodological basis of the research consists of traditional methods used in this type of work, namely: methods of retrospective, induction, deduction, comparison. The industrial policy implemented in the country since 1948 and its transformation were accompanied by mixed results, not only in terms of economic indicators, but also social ones. The main result of the country’s industrialization was the fact that India was faced with a population explosion, and a serious discrepancy between structural changes in output and employment structure - agriculture still employs the overwhelming share of the country’s population, while the share of the agricultural sector in the structure of GDP is about 15 %. Informal employment remains one of the most significant problems in the Indian market. Despite a number of developed and implemented programs for the transition of workers from informal forms to regular jobs, significant changes have not occurred.

The reserch explores multiple approaches to the term “new normality”, which appeared in the scientific economic community after the 2008 crisis, and became relevant again with the proclamation of a “new economic era” in China, the “entry” of the world community into the era of the Anthropocene, and the collision of the world with a problem of global significance - the COVID-19 virus. The relevance of the topic is also due to modern conditions: the turbulence of the world economy, which it has entered not only since the beginning of the pandemic, but also as a result of those “tectonic” shifts in the system of international economic relations that occurred after Russia launched a special military operation. The need to supplement and expand the term “new normality” comes from the questions: “If the term “new normality” or “norm” arises, then what is the “old norm”? In relation to what phenomena or processes is this term used and what is the set of definitions and approaches to it?”. The purpose of this article is to identify the main features of the “new normality” in the context of the growth and development phase that the Chinese economy entered in 2014, in particular. The “new normality” in Chinese is based on achieving a more diversified structure of the national economy, ensuring sustainable growth and a more even distribution of benefits. The etymology and development of the term “new normality” are considered. Despite the multiplicity of approaches, a single definition for the term in question has not developed, neither within the framework of economic science, nor within the framework of other areas. The prerequisites underlying the “new norm” in Chinese are analyzed in detail, including those that served as the basis for revising the country’s economic development model and implementing the model known today as the “double circulation” model. The author raises the question of the need to develop an approach to the term also in the key of current events, tectonic shifts in the world economy and the system of international economic relations, which, objectively, can be characterized as a “crisis” of the modern stage of the development of the world economy, known as globalization, or a transitional period, a transitional stage to a new, a completely different stage in the development of the world economy. The main conclusion of the study is as follows: the current stage of the development of the world economy, that is, globalization, is experiencing an acute phase of turbulence, which obviously began long before the last economic crisis of 2008. The events of the last few years show that the effects of globalization to a certain extent cease to justify themselves: increased international competition, increased protectionism policies and an increase in the number of trade disputes within the WTO, escalation of “trade wars”, COVID-19 and its impact on the entire system of international economic relations, disruption and restructuring of production and logistics chains, as well as the exit of TNCs from the Russian market as a result of a special military operation, all this indicates that the current stage of development of the world economy is now a transitional period not because of the effects and processes that occur under the influence of certain events, but because of the restructuring of the entire global economic and geopolitical architecture. All of the above, in turn, requires an adequate response from the economic schools in the form of the need to develop theoretical approaches to the question of the transitive nature of the current stage of the development of the world economy and the transition to another stage.

Research examines multiple approaches to the term “second economy”, which appeared in the scientific economic community in the 70s of the XX century, and received a diametrically opposite interpretation already in the XXI century. The relevance of the topic is due to the scale of activities and the importance that the activities of American TNCs abroad, have acquired through an extensive and developed system of affiliated enterprises and foreign direct investment. The need to clarify the term “second economy” comes from the presence of many approaches to this concept, diametrically opposed to each other: in fact, there are two approaches, the first of which is based on the fact that the “second economy” or “economy number 2” is an informal, shadow, “gray” economy, the indicators of which are evaluative, and characterize illegal methods of enrichment or gaining access to benefits; the second approach is based on the fact that the “second economy” means a developed and extensive network of international production created through American direct investment - a complex of American enterprises abroad. The retrospective of the formation and development of TNCs and the filial system in the world economy, theoretical and practical approaches to the activities and especially the foreign economic expansion of monopolies during the XX century are considered in detail. The main attention in the work is paid to the peculiarities of the foreign activities of American TNCs and indicators reflecting their presence outside the national economy, so large that they form the “second economy” of the United States: the number of parent and affiliated enterprises, the geography of their presence and specialization, dynamics and other features of American enterprises are analyzed, investments abroad, as well as the impact of economic policy (tax and protectionism policy) on the volume of investment exports abroad.

Energy is an integral part of the economic security of any state, and it is more complex, the lower the degree of provision with its mineral resources and the higher the number of the population living in the country. Being the undisputed world leaders in terms of population (1.4 billion people and 1.3 billion people), China and India are concerned about ensuring the energy security of their national economies. According to the latest forecasts formed by the International Energy Agency, by 2040, these two countries will become world leaders in terms of imports of mineral products (in this case: crude oil and natural gas). China is the world leader in exporting goods; India is implementing an economic and industrial policy to turn the country into a world manufacturing hub. In this regard, providing countries with energy resources is one of the most critical tasks. At the same time, a significant problem is a dependence on regular supplies of raw materials and world prices for energy carriers. Respectively, countries should pursue a policy of diversification of suppliers of mineral products. The subject of this study is the Republic of India and its position in the world energy markets; issues of energy security and energy policy are also highlighted.

Article is dedicated to the determination of key features of the United States participation in the international capital movement on the example of FDI outflows and inflows, and confirmation of its heterogeneous nature. Tax reform that has been implemented in the end of 2017 led to the result when USA was deleted of the list of TOP-20 world investors of 2018 (by UNCTAD). The scientific opinion and fears were connected with the forecasts that the tax reform could change the movement of FDI flows back to the USA from foreign countries, especially, and the countries with the low taxes and the most favorable investment regimes. At the same time, it needs to underline that the analysis of U.S. FDI inflows and outflows showed that the negative indicator of U.S. FDI outflow (export) in 2018-2019 was connected with the repatriation of U.S. holding companies profits, that were doing business in countries with the most favorable tax and investment regimes. The authors tried to investigate the nature of the American holdings role and the integration of U.S. in to the global system of FDI and capital movement.

Scientific investigation covers the questions of U.S.’ involvedness into the international economic relations and into the international trade of goods and services and international movement of FDI as well. The fact that USA is the larger importer and the second exporter of goods in the world (2018), and the largest exporter and importer of commercial services (2018), the biggest host economy of FDI, and the largest investor (till 2017) the investigation of the American investment cooperation is the rather important affair, that can show the tough dependence of U.S.’ economy of foreign countries investments flows and regimes. In accordance with UNCTAD data U.S. is holding the first place as the exporter of FDI during the long period till 2018, that showed the negative number of FDI outflow in 2018 as the result of tax reform’ implementation at the end of 2017. Implementation of open and tough foreign trade policy (the policy of protectionism) through the import tariffs increasing is aimed at trade deficit reduction, protection and support of the American producers, implementation of tax reform at the end of 2017, making come true the soundbites of D. Trump “Make America Great Again” and “America first”. The author analyzed investment cooperation of U.S. and EU, its dynamic, specialization, directions. The author came to conclusion that correlation of United States’ investment indicators with European Union showed an unequal evaluation of each Union’ member and determined the disproportion of understanding and examination of regional integration not as the complex subject of the global economy but as the set of different and independent subjects. Investigation of U.S.’ FDI export and import statistics gave the author opportunity to come the conclusion that there is the specific of U.S.’ investment outflow into the European Union countries reflected through the limited set of investment recipients. At the same time, implementation of the tax reforms at the end of 2017 could lead to the changing of global investment flows from low tax jurisdictions to USA, for example.

Article is dedicated to the trade and economic links of USA and EU. The authors tried to find out key features and characteristics of these cooperation. The result of the investigation and the analysis is development of the term “economic anamorphosis”, the concept of which is the critical domination of the weight and share of limited list of partners in the system of bilateral cooperation, when one of the partners is regional economic integration, and the biggest share of trade, capital, human and other flows is attracted by these determined limited list of countries. Such situation can be estimated as disproportion of partner’s estimation and evaluation by each other. It means that economic integration is estimated not as the complex partner and subject of the global economy but with the using of deduction method.