During the last several years, there was a rapid increase in the number and forms of various international linkages, which in turn has led to the formation of global economic interdependence covering all countries and regions of the contemporary world. The present article deals with analysis and assessment of various definitions and approaches to world-wide economic interdependence. The concept of which has stimulated a lively scholarly controversy and different interpretations. Generally speaking, there are two tendencies to use that concept in order to present some essential features of the contemporary world economic system as well as in order to express some goals of foreign policy of a given state or group of states. This article presents also main methods of evaluation of this phenomena. The article ends with short summary and conclusions.