The article “Contemporary global economic crisis: Some conclusions for Russia and BRICS (taking into account Kondratieff long waves)” by Viktor Tatuzov was published in the journal «BRICS Journal of Economics» (2020, Volume 1, Issue 2).
The current problems and the long-term trend of world economic development are examined in the article. There are also provided suggestions for Russia and BRICs countries to reconsider their economic policies and to strengthen mutual cooperation under the new conditions emerging in the world economy.
(The article is devoted to the origins of contemporary economic crises (2008–2020). The author suggests a relatively novel approach to the study and forecasting of the economic life of the BRICS countries and other regions within the framework of the modern Kondratieff long waves hypothesis. The author recalls that in the mid-twenties, after analyzing the results of a sufficiently deep crisis in 1920–1921, Kondratieff drew a conclusion that even more destructive perturbations in the world economy were approaching (having thus predicted the Great Depression of 1930s). In particular, Kondratieff wrote about the downswing phase of a long wave – a long turbulent period of economic instability (a period of deep economic crises).