Sanctions and Trade Wars as Indicators of Transformation of the World Economy. Opportunities for Russia

597
DOI: 10.20542/0131-2227-2019-63-2-13-20

E. Telegina (meb@gubkin.ru),
Gubkin Russian State University of Oil and Gas (National Research University), 65, Leninsky Prosp., 119991, Moscow, Russian Federation;
G. Khalova (khalovag@yandex.ru),
Gubkin Russian State University of Oil and Gas (National Research University,) 65, Leninsky Prosp., 119991, Moscow, Russian Federation



Abstract

The article highlights the principal trends in the development of the world economy in 2010–2017. Recently the economies of developing countries in South and Southeast Asia, a number of countries in Africa and Latin America are showing notable progress. At the same time, in most countries in Europe and in the United States GDP growth rates remain below the world average. The authors examine the causes of the new trade wars. Trade war is a form of struggle for economic hegemony, such wars have been waged for many years. The toughening of competition for resources, markets and the possession of production and technological capabilities launched a new round of protectionist sentiment between the largest participants in world trade. It is shown that due to attempts to maintain leadership in the world economy and politics, a number of countries turn out to be the main source of negative phenomena and risks. In the case of China, the United States uses mainly the regulatory and economic levers of influence, however, Russia is the main addressee of the US political influence, primarily in the form of sanctions. Authors have analyzed the sanctions policy of some states. The issues of assessing the direct and indirect economic effects of sanctions have not yet received full coverage in the scientific literature and remain extremely politicized. The article also dwells on the anti-sanction policy of the Russian Federation, its impact on the country’s economy. It is noted that Russia has a number of new opportunities for the development of the national economy. These opportunities are associated with the development of domestic industry, agriculture and services in the framework of import substitution policies.


Keywords

world economy, trade wars, sanctions, import substitution


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For citation:
Telegina E., Khalova G. Sanctions and Trade Wars as Indicators of Transformation of the World Economy. Opportunities for Russia . Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2019, vol. 63, No 2, pp. 13-20. https://doi.org/10.20542/0131-2227-2019-63-2-13-20



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