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Transition to the New World Economic Order: Essential Stages, Basic Features, Challenges and Policies for Russia

Author

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  • Andrey Nikolaevich SPARTAK

    (Russian Market Research Institute, Moscow, Russia
    Russian Foreign Trade Academy, Moscow, Russia)

Abstract

The article examines the stages and patterns of the current transition to a new world economic order, highlights the key features of this transition associated with the increasing fragmentation of the modern world (economic, technological, physical, military-political, information and network), the widespread growth of uncertainty and an extremely high degree of politicization of the international business agenda. The role of global regulators is decreasing and the importance of regional mechanisms for cooperation and response to crisis situations is growing. The final result of changes in the structure and configuration of the international trade and economic system is not yet obvious, but for Russia the current situation within the external environment looks like Cold War 2.0 in the digital age. Suggestions regarding the important areas of focus and actions of Russia in the international economic arena in the face of unprecedented sanctions and other pressures from the collective West are presented.

Suggested Citation

  • Andrey Nikolaevich SPARTAK, 2022. "Transition to the New World Economic Order: Essential Stages, Basic Features, Challenges and Policies for Russia," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 7, pages 7-29, July.
    • Handle: RePEc:alq:rufejo:rfej_2022_07_7-29
    DOI: 10.24412/2072-8042-2022-7-7-29
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