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Source: fotohost-TASS agency

The Seventh Eastern Economic Forum – 2022 is being held on September 5-8, 2022 in Vladivostok on the campus of Far Eastern Federal University (FEFU).

Feodor Voitolovsky, Director of IMEMO, spoke at the session "The New Framework of Global Economic Cooperation: What’s Better and What’s Worse?"

In his speech, he singled out several factors of a subjective nature affecting the world economy today.

COVID-19 pandemic. The economic consequences turned out to be completely different for states, and they depended precisely on the political course aimed at combating the spread of the disease. 

Western economies were also affected by the green transition strategy. Europe is "ahead of the game" on this issue, for example, by winding down nuclear energy programs. 

One of the main factors destabilizing the global economy is the crisis in Ukraine. The interdependence between Russia and the European Union in trade and energy is evident, although it is decreasing. According to the Director of IMEMO, the radical sanctions decisions related to gas supplies from Russia to Europe, which the European Union countries have taken, are primarily beneficial to the United States. 

The session participants also discussed the impact of the pandemic and political conflicts in Eurasia on the countries of Africa and Southeast Asia.