WORLD ECONOMY AND INTERNATIONAL ECONOMIC RELATIONS
A thousand years ago the Arab World significantly surpassed Western Europe in terms of culture, science and economic development. Later on, due to a number of internal issues (the strengthening of conservative institutions), as well as external challenges, the Arab States, unlike some other countries, lagged behind in development and has not fully stepped on the path of modern economic growth. The low level of economic diversification, the unfavourable investment climate, the limited accumulation of physical and human capital, as well as the inefficiency of state management systems, have led to a significant slowdown in the productivity growth of Arab economies after the first decades of independence in the 20th century. The Arab Countries have been witnessing recently number of severe social and political problems (i. e. the «Arab Spring»). To overcome current development issues in region it is important to increase the competitiveness of their economies through activation of the private sector and upgrade the skills of population. Also, modern technologies (like the information and communication technologies) might play pivotal role in the economic development of the region. The development of mobile phones, computers and the Internet contributes to the creating of additional jobs in various areas and the emergence of new tools in education.
The article analyzes current trends in the dynamics and geographical structure of the European Union's foreign trade during 2013–2017. During this period, as a result of the next – the fifth – expansion of the group, the number of its members reached the maximum while the indicator was 28 participants. The changes that have taken place at this stage in the foreign trade activity of the bloc were examined against the backdrop of shifts in the world economy, as well as the increasing use of various kinds of restriction measures, including anti-Russian sanctions, in the practice of international trade. At the same time, it is taken into account that the aggregate volumes of export-import relations of the European Union, the largest collective counterparty in the modern global сommodity turnover, should be considered within their division for trade contacts within the EU (the EU Intra-trade) and beyond it (the EU Extra-trade) the ratio between which demonstrates mobility in the general dynamics of their evolution. The undertaken research is focused on the foreign trade relations of the EU with third countries (the EU Extra-trade). Of considerable interest are the contacts of the European Union in the Far Eastern region with the world's largest exporters of goods by Japan, the Republic of Korea. It is shown that, despite the existing external challenges, thanks to flexible foreign trade policy (the «turtle effect»), the European Union manages to maintain its leading position in the global commodity exchange.
Financial innovation and digital technology are transforming the way of life, work, investment and production of goods and services. In an increasingly competitive environment, the Internet offers opportunities to improve business and benefit from lower production costs. Using information and communication technologies (ICT), small and medium-sized enterprises (SMEs) have access to global markets that were once the prerogative of large corporations only. In such circumstances, the Internet offers opportunities to improve marketing and benefit from lower production costs. The Internet can be used by SMEs as an unlimited and up-to-date source of information about markets, especially about prices, trends, products and research occurring abroad. Digital globalization is changing the value chain, creating new hubs, transforming economic activity. In this context, policymakers need to find the right balance between taking advantage of openness and reducing the risks that are emerging at an unprecedented rate in the digital world. The potential of the digital economy in the medium and long term period remains uncertain, but they undoubtedly will expand.
ECONOMIC INTEGRATION
The article considers different kinds of cumulation of origin as instruments for softening the strict rules of origin of goods in regional trade agreements (RTAs) to stimulate cross-border exchange of goods in global value chains (GVC) between RTS members and beyond in the context of growing protectionism. Studies show that for countries with relatively limited opportunities for processing intermediate goods, raw material diagonal accumulation offers greater opportunities for participation in regional value chains, and for countries with limited natural resources but with the capacity to produce intermediate products under the GVСs, full cumulation suggests more opportunities in using tariff preferences under mega-regional trade initiatives, one of which is the Pan-Euro-Med Convention (PEM). In the post-Brexit trading model, cross-cumulation could support the UK’s participation in GVCs by introducing more flexible origin provisions. The use of full and cross-cumulation by countries within the FTA of the EAEU/CIS would facilitate the expansion of the free-trade zones of origin and stimulated the promotion of GVCs to the territory of the Commonwealth countries. Elimination of obstacles in the use of the rules of origin of the EAEU is a particularly urgent task in the light of the promotion of the idea of the formation of The Greater Eurasia with the center at the EAEU.
Nowadays Russia is an active participant in international associations, both formal and informal (e. g. BRICS). At first glance, the BRICS is a group of countries that are not related either geographically or ideologically. However, long-term cooperation between the countries proves the opposite: new initiatives are being created, joint work is developing not only on economic, but also research and innovation projects. In this article there is the analysis about the existing features of the national innovation systems (NIS) of countries and highlights their distinguishing features, for example, the importance of national academies of Sciences in the framework of the NIS, as well as the need for their consideration as additional subjects of NIS. At the first stage of the study, the positions of the five BRICS countries in the leading international rankings of innovation activity are analyzed. At the second stage-the analysis of the operating environment (Data Environment Analysis, DEA), which allows to estimate the ratio of costs and results of innovation. According to the results of the analysis, it is suggested which of the BRICS countries can become a potential leader in further innovative cooperation between the countries.
WORLD COMMODITY MARKETS
In the past two decades in the world oil industry underwent significant changes, that created a new production and commercial situation. These processes have affected the production, consumption and trade in oil, which, in spite of serious efforts to increase the share of alternative energy sources, remains the principal energy resource, has a significant impact on the development of global economy. The sharp ups and downs of oil prices has become the acute problem of global economic development. The collapse in oil prices in the years 2015–2016 has resulted in significant reduction of foreign exchange earnings for state budgets of the sellers of liquid hydrocarbons. In an effort to remedy the situation, the exporting countries, beginning in the fall of 2016, undertook vigorous steps in order to prevent a further decline in oil prices. A key role in this process was played by Russia and Saudi Arabia who are the largest exporters of oil. They managed to convince the majority of oil-producing countries to cut production. By this way, the exporters managed to stabilize the market, but the world oil industry remains at the epicenter of the geo-economic and geo-political confrontations. Moreover, it has become the object of international trade and financial sanctions and restrictions affecting the interests of a number of countries, including Russia.
FOREIGN ECONOMIC RELATIONS OF THE RUSSIAN FEDERATION
For centuries, trade and economic relations between Russia and China have been developing. A new level of bilateral relations began in 2000 with the election of President Vladimir Putin. The main principles and directions of bilateral cooperation are reflected in the Treaty on good-neighbourliness, friendship and cooperation between the Russian Federation and the People's Republic of China. Sino-Russian cooperation at the present stage includes various areas of cooperation. More than 50% of Russian exports to China account for energy, and for oil supplies in 2017, Russia bypassed Saudi Arabia. China has become a major buyer of Russian food. And this fact is certainly a positive moment in the development of trade between the two countries. Investment cooperation is one of the priority areas of development of Sino-Russian trade and economic relations. It is also stated that China's investment in the Russian economy exceeds ten times the volume of Russian investment in the Chinese economy. China is becoming one of Russia's largest trading partners, which determines the future prospects of this mutually beneficial cooperation.
Healthcare consumers decide on their treatment and then choose a medical facility for this treatment. Their choice is based on specific criteria, which furthermore are the basis for the rating of these healthcare services and expectations for them at the time of treatment. On which criteria exactly are patients focused and what do the physicians themselves think of these criteria? This is the question that the authors of this article have attempted to address. By using data from previous patient studies and by analyzing the results of the most recent physician survey-questionnaire, a specific list of criteria was found. It is worth noting that there were common threads between the requirements of the patients and the physicians’ opinions of their significance. A clear illustration of this comes from data collected by the Federal state budgetary institution «National Medical and Surgical Center named after N. I. Pirogov» of the Ministry of Healthcare of the Russian Federation. Direct communications between doctor and patient was high on the list of important criteria. In the 21st century, the main focus is the patient and his wants and needs. This constitutes a major shift in the whole paradigm of doctor-patient relationship. It is expected that the increased interaction between doctor and patient will result in improved patient outcomes. In many countries research is now being conducted in order to understand the importance of communication and how it influences patient choice. However, in many studies, doctors and patients are studied as if living in separate worlds. All doctor-patient communication studies have assessed patients or doctors separately but not the interpersonal dynamics. Besides that scientists do not interest what the doctor thinks about the reasons for consumers' choice of the medical facility and the specialist for this treatment. The question remains how clearly the doctors understand this. After all, whether they understand why patients come to them and what attracts them so much depends on improving the quality of work of the medical institution.
The article is devoted to the study of the role of state and non-state institutions in the formation and functioning of the system of infrastructure support for small and medium-sized businesses engaged in export activities. The author found that, despite the presence of various tools to support small and medium-sized businesses engaged in export activities, the existing infrastructure cannot be considered as a foundation for achieving the indicators outlined in the Strategy for the Development of Small and Medium-Sized Businesses in the Russian Federation for the period up to 2030 year, since only in the complex institutions of state and non-state support can ensure the viability of interconnected and complementary systems non-state support can ensure the viability of interconnected and complementary systems support of export-oriented small and medium enterprises, given asimmettory level of development of small and medium-sized businesses. It is noted that the modern infrastructure of support for the export of small and medium-sized businesses engaged in export activities is only beginning to emerge, which is caused, among other things, by the presence of a whole complex of structural problems across the country.
ISSN 2414-4649 (Online)