... economic architecture. The advent of Globalization 4.0 and the Fourth industrial revolution are set to be accompanied by the emergence of Global governance 4.0 that incorporates the rising role of technology into the multilayered edifice of the global economy.
It is by now widely acknowledged that the old global economic architecture is due for an upgrade. The successive stages in the construction of global economic architecture were characterized by the progression of economic integration from ...
Crisis of the state system, Economic and financial disorder, the rise of non-state actors, climate change, migrations, decline of international institutions
1. Crisis of the state system.
In coming years, we are likely to see a continuous crisis of the traditional state system, particularly in such places as the MENA region, sub-Saharan Africa, South Asia and in parts of the former Soviet Union. Weak states might face a challenge of losing their sovereignty; they will not be in a position to provide...
... rate and increasing tax compliance, while on the spending side the main concerns were focused on the slow implementation of the financing of National projects. In the monetary sphere the key vulnerability as identified by Maxim Oreshkin, Russia’s Economy Minister, was the excessive rate of consumer loan growth. The latter however subsided towards the end of the year as the CBR introduced a series of policy measures designed to keep a lid on consumer credit growth going forward.
The external backdrop ...
Report No. 41/2019
This report is the result of a collaborative study performed by the RIAC and the Center for Strategic Research (SAM) of the Ministry of Foreign Affairs of the Republic of Turkey. SAM publishes academic journal “Perceptions: Journal of International Affairs” (Turkey), an English language journal on foreign affairs. The materials included in this report were initially published in a special issue of
PERCEPTIONS
. The paper presents the views of Russian and Turkish experts in the...
... putting the 2019 growth estimate at the lowest level since the 2008-2009 financial crisis
This year’s Annual meetings of the IMF and the World Bank in Washington DC revealed a growing preoccupation with the mounting signs of a slowdown in the world economy. The IMF’s diagnosis was that of a “synchronized slowdown” across the globe with the Fund revising its growth projection for global economic growth downwards and putting the 2019 growth estimate at the lowest level since the 2008-2009 financial ...
... largely been taken for granted, partly due to the rising role of developed economies and the mounting impulses of economic openness promoted by international institutions. Throughout the past decade, however, the current system of governance in the world economy started to encounter systemic bottlenecks and limitations as exemplified by rising inequality as well as declining economic growth rates. These developments call into question the seamlessness and finality of the current construct of global economic ...
... strategic partnership. The annual summits that has been taking place since 2000 have helped in making an overall assessment on the wide-ranging aspects of political and strategic cooperation, military and security cooperation, cooperation in the spheres of economy, energy, industry, science and technology, etc.[
1
] The 19th summit was held in New Delhi on October 2018 where the two leaders, Indian Prime Minister (PM) Narendra Modi and Russian President Vladimir Putin took stock of the bilateral relationship ...
... still retain significant conflict potential. The arms control architecture is deliberately undermined – the US unilateral withdrawal from the Intermediate-Range Nuclear Forces Treaty was a rather dangerous step. Structural imbalances in the world economy are yet to be overcome. A serious threat to global economic growth is posed by such unfair competition practices as unilateral economic sanctions, trade wars and flagrant abuse of the US dollar status as the world reserve currency. The international ...
In the past several weeks ahead of the BRICS summit in Brazil a number of initiatives were unveiled by representatives of the BRICS economies. One of the more significant discussions centered on the expansion in the membership of the New Development Bank (NDB). According to the Deputy Finance Minister of Russia Sergey Storchak BRICS countries may give the green light to the expansion in the Bank’s membership at the BRICS summit in Brazil this year. In effect, the expansion in the membership of the...
Ambassador Vladimir Chizhov's remarks at the 12th Eurasian Economic Forum
Recently the number of conferences, round tables and publications on existential matters in Brussels notably increased. Actually, the questions Europeans are asking themselves are quite topical: “How would the EU be able to become a full-fledged global player in the rapidly changing multipolar world?”, “How to react to rapid development of the Asia-Pacific region?” and “What should you do if your major transatlantic partner...
