KEY CASCADING EFFECTS OF COVID-19 ON THE GLOBAL ECONOMY
The object of the research: world economy at the modern era. The main aim of the research: to identify new and clarify the existing cascading effects of the world economy development at the present stage of development. The methods: general scientific methods of analysis and synthesis, methods of grouping, detailing, generalization and systematization of data, as well as economic and mathematical models. The results: on the basis of a comprehensive study of the most important areas of the world economy, the key cascading effects have been identified, that significantly influence on the social and economic components of world politics and trade. The research results can be used in the creation and/or adjustment of national strategies to overcome the covid-19 pandemic effects, affecting all aspects of global social and economic processes, as well as to adapt national measures to new realities in the global economy, taking into account the fostering of «hidden» protectionist measures in different spheres. Conclusions: The long-term impact of the cascading effects of the covid-19 pandemic pave the way to review approaches to public administration and national and world economies' architecture. Any crisis requires the mobilization of all available resources, including the moral strength of individuals. The best strategy would be to mitigate and to neutralize social and economic cascading effects before the impending global economic crisis has its impact.