The world economy and its centres

States with large production, science-technology and financial resources are the centres of the world economy. The two largest economies today are the USA and China; they are joined by centres such as the European Union, Germany, Japan and India, which is why the economy is multipolar (polycentric). Globalisation means countries drawing closer through economic, political and cultural ties and developing in one information space. Its result is international economic integration, the union of national economies on the basis of strong ties and division of labour. Integration takes regional forms (the European Union, with 27 members after the United Kingdom left in 2020; ASEAN), sectoral forms (the Organization of the Petroleum Exporting Countries, OPEC) and the form of transnational companies. A TNC operates in two or more countries and has large foreign assets; examples are Apple, Toyota, Samsung and Shell. Most have their headquarters in the USA, China and Japan. TNCs bring jobs and technology, but they can also strongly influence the economies of small countries.