The growing great power competition is steadily turning into a characteristic of the contemporary international system a radical opposite of the relative stability and unipolarity of the post-Cold War era. This transformation is a reflection of deeper structural transformations in the world political economy including decentralization of power the rise of new economic centres and the augmentation of the importance of technology and geoeconomics as a state instrument. The essence of these processes is the growing competition between the great powers in particular the United States and China that changed the system of world governance the system of regional security and the trends of economic interaction.