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World Economy and Energy at the Turn: Search for an Alternative Development Model

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E. Telegina
G. Khalova
Rubric: The World at the Beginning of Millennium
DOI: 10.20542/0131-2227-2020-64-3-5-11
E. Telegina (meb@gubkin.ru),
Gubkin Russian State University of Oil and Gas (National Research University), 65, Leninskii Prosp., 119991, Moscow, Russian Federation;
G. Khalova (khalovag@yandex.ru),
Gubkin Russian State University of Oil and Gas (National Research University), 65, Leninskii Prosp., 119991, Moscow, Russian Federation


Abstract

The development trends of the world economy and world energy in 2000–2018 are subjects of authors’ analysis. It shows the strengthening of the positions of Asian countries in the world GDP (by PPP) and the weakening of the positions of Western states. While the developed postindustrial nations decrease energy consumption due to improving energy efficiency alongside with moderate growth in industrial production, the great fast-growing Asian economies, such as India or China, increase their demand for energy. The economic growth of these states is ensured by the growth in energy consumption. The nature of the consumption of various types of energy resources differs in postindustrial and developing countries. Traditional fossil fuels dominate the energy mix of fast-growing economies in Asia. At the same time, the share of renewable energy sources in their energy balances is growing in post-industrial countries. Available international forecasts show that by the middle of the 21st century the structure of the world energy balance will significantly change. The prerequisites and consequences of the energy transition during the fourth industrial revolution are examined, the leading role of natural gas in the world energy balance until 2040 is substantiated. Particular attention is paid to environmental issues and measures to control CO2 emission, the formation and functioning of hydrocarbon markets. It is noted that, as long as liberalism failed to create equally favorable living conditions for all countries and peoples, the world faces the need to find another economic model. The authors argue that the possibility of an effective combination of conflicting trends in competition and cooperation between Russia and China and other countries of the Eurasian space is being formed in the space of Eurasian continent. Greater Eurasia may become a guarantor of sustainable development of the global economy.


Keywords

world economy, world energy, economic development model, environmental problems, Russia, China, EAEU, Greater Eurasia


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For citation:
Telegina E., Khalova G. World Economy and Energy at the Turn: Search for an Alternative Development Model. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2020, vol. 64, No 3, pp. 5-11. https://doi.org/10.20542/0131-2227-2020-64-3-5-11

Contents Mirovaya ekonomika i mezhdunarodnye otnosheniya. 2020, vol. 64, No 3

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