Disintegration of the World Trade System: Reasons and Consequences
The article presents the study results of the world trade stagnation issues associated with the WTO systemic crisis. The aim of the article is to summarize the main reasons for the world trade system disintegration and to identify feasible directions for the world economic order transformation. The...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2019-10-01
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| Series: | Финансы: теория и практика |
| Subjects: | |
| Online Access: | https://financetp.fa.ru/jour/article/view/903 |
| _version_ | 1797878707154583552 |
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| author | A. V. Kuznetsov |
| author_facet | A. V. Kuznetsov |
| author_sort | A. V. Kuznetsov |
| collection | DOAJ |
| description | The article presents the study results of the world trade stagnation issues associated with the WTO systemic crisis. The aim of the article is to summarize the main reasons for the world trade system disintegration and to identify feasible directions for the world economic order transformation. The G20 trade-restricting measures were analyzed based on the statistical databases of the WTO and the non-governmental organization Global Trade Alert (GTA). The views of leading domestic and foreign experts on the consequences of liberalization of the world trade in goods and services were summarized. The author systematized the reasons for the world trade system disintegration, including: the US anti-globalization policy aimed at containing the PRC; counteracting unipolar globalization by the Southeast Asian nations; developed countries’ rejecting the growing participation of developing countries in redistributing global resources; inefficiency of international organizations in solving problems of global imbalances, inequality and instability of the global financial system. Structuring disintegration processes revealed its main trends: protectionism, regionalism, trans-regionalism. There were shown mechanisms to keep the US in the European Union due to companies providing professional services to European business. The author evaluated Russia and China’s competitive advantages in the production chains of the new technological structure. The areas of cooperation between Russia and the BRICS countries for realizing export potential in agriculture, aviation and nuclear industries were determined. The prospects for trade and economic relations in Eurasia are discussed in terms of changing the economic paradigm and shifting the regulation of the global economy problems to the regional level. |
| first_indexed | 2024-04-10T02:37:29Z |
| format | Article |
| id | doaj.art-01427a2b136041c6bdea1e2030931066 |
| institution | Directory Open Access Journal |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| last_indexed | 2024-04-10T02:37:29Z |
| publishDate | 2019-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj.art-01427a2b136041c6bdea1e20309310662023-03-13T07:49:29ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892019-10-01235506110.26794/2587-5671-2019-23-5-50-61738Disintegration of the World Trade System: Reasons and ConsequencesA. V. Kuznetsov0Финансовый университетThe article presents the study results of the world trade stagnation issues associated with the WTO systemic crisis. The aim of the article is to summarize the main reasons for the world trade system disintegration and to identify feasible directions for the world economic order transformation. The G20 trade-restricting measures were analyzed based on the statistical databases of the WTO and the non-governmental organization Global Trade Alert (GTA). The views of leading domestic and foreign experts on the consequences of liberalization of the world trade in goods and services were summarized. The author systematized the reasons for the world trade system disintegration, including: the US anti-globalization policy aimed at containing the PRC; counteracting unipolar globalization by the Southeast Asian nations; developed countries’ rejecting the growing participation of developing countries in redistributing global resources; inefficiency of international organizations in solving problems of global imbalances, inequality and instability of the global financial system. Structuring disintegration processes revealed its main trends: protectionism, regionalism, trans-regionalism. There were shown mechanisms to keep the US in the European Union due to companies providing professional services to European business. The author evaluated Russia and China’s competitive advantages in the production chains of the new technological structure. The areas of cooperation between Russia and the BRICS countries for realizing export potential in agriculture, aviation and nuclear industries were determined. The prospects for trade and economic relations in Eurasia are discussed in terms of changing the economic paradigm and shifting the regulation of the global economy problems to the regional level.https://financetp.fa.ru/jour/article/view/903мировая торговая системакризис втоторговые войныпротекционизмрегионализмтрансрегионализмглобальные дисбалансыантироссийские санкциисмена экономического порядканаднациональные институты брикс |
| spellingShingle | A. V. Kuznetsov Disintegration of the World Trade System: Reasons and Consequences Финансы: теория и практика мировая торговая система кризис вто торговые войны протекционизм регионализм трансрегионализм глобальные дисбалансы антироссийские санкции смена экономического порядка наднациональные институты брикс |
| title | Disintegration of the World Trade System: Reasons and Consequences |
| title_full | Disintegration of the World Trade System: Reasons and Consequences |
| title_fullStr | Disintegration of the World Trade System: Reasons and Consequences |
| title_full_unstemmed | Disintegration of the World Trade System: Reasons and Consequences |
| title_short | Disintegration of the World Trade System: Reasons and Consequences |
| title_sort | disintegration of the world trade system reasons and consequences |
| topic | мировая торговая система кризис вто торговые войны протекционизм регионализм трансрегионализм глобальные дисбалансы антироссийские санкции смена экономического порядка наднациональные институты брикс |
| url | https://financetp.fa.ru/jour/article/view/903 |
| work_keys_str_mv | AT avkuznetsov disintegrationoftheworldtradesystemreasonsandconsequences |