| Summary: | World-system theory since 1970's have been warned that privileged position of the United States as the world hegemon carries many risks of abuse that privileges. Deregulation of the financial sector and the function of dollar as world money allowed global financial oligarchy and USA political class to abuse, in the second half of the 20th century, that privileged position indeed. At the present, the world economy entered the phase of B Kondratieff cycle. Some representatives of World-system theory held that, under those circumstances, there was an opportunity for individual countries of semiperiphery to attempt to carry out accelerated modernization and thus join the center. The author discusses the question of whether and under what conditions Serbia can do something like that.
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