THE BALANCE OF POWER IN THE WORLD MANUFACTURING INDUSTRY

Globalization and innovative development have led to the profound changes in the global industry structure. The rapid character of the industrialization process in developing countries leads to the spatial regrouping in the world. This article analyzes the changes in the spatial organization of the global manufacturing industry. We define the position of countries and regions in the manufacturing industry and reveal changes in the share of the countries and regions in the world industry in 1999-2014. Under the influence of a complex of factors there is a radical change in proportions between the territories of the "old" and "new" wave of industrial development. The findings prove that there is spatial redistribution of industrial production between the major regions of the world in favor of Asia. In the recent two - three decades the role and importance of Asian countries has been steadily growing in the world economic development. Nowadays we are facing clearly expressed Asian vector of economic and industrial development. The comparative analysis of NAFTA, the EU and BRICS countries positions in the various types of high-tech manufacturing industries captures the growing importance of the BRICS in the global industry. Quite logical that Asia is the leading region and its share has risen from 32.6 to 45.5% of the world high-tech manufacturing industries over the last 15 years, primarily due to the China's share increase (from 3 to 27%). It is shown that China is already the world leader in the manufacturing of most types of industrial products.