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International Trade and Trade Policy

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No 2 (2020)

МЕЖДУНАРОДНАЯ ТОРГОВЛЯ

5-21 620
Abstract

A trend has been identified that reflects a close correlation between the main indicators of US foreign trade and innovation activities carried out in the modern American economy. The article shows the essence of the national innovation system established in the United States and its international significance in the implementation of foreign trade relations of the country in terms of the exchange of scientific and technical information and documentation, the sale of products with a high innovative component, determined by a comparative analysis of relevant indicators. Based on the results of the study noted the positive dynamics of the active foreign trade balance of the USA in the field of exchange of scientific and technical information and documentation, with a high positive balance, the conclusions about the qualitative dominance of the leading industries of the U.S. economy in terms of aggregate innovation and foreign trade activity in ten leading countries of the world.

22-32 743
Abstract

The export of services is not related to the physical movement of goods across the border but is directly dependent on the cross-border movement of data. Cross-border data flows play a vital role in the cross-border provision of digital services. The international community pays particular attention to issues regarding the application of data localization policies. Indeed, this requirement significantly affects global trade in services. The data localization policy provides, according to the WTO, limiting the ability of companies to transfer data about internal users to foreign countries. Developing countries (Russia, China, etc.) involve the application of the localization requirement, i.e., first records in the country, personal data of citizens, while the EU and the US consider the total need of data localization as a barrier to international trade. The article assesses the impact of data regulation requirements on the export and import of digital services.

WORLD ECONOMY AND INTERNATIONAL ECONOMIC RELATIONS

33-46 643
Abstract

The article analyzes the achievements and problems, which US President Donald Trump encountered during the implementation of his election program to transform the country. Author consider these subjects in the broad context of the transformation of the modern world order and the change in the narratives of global geopolitics. The author emphasizes that the United States is committed to the re-industrialization and nationalization of the American economy in the context of the coronavirus pandemic and the general global uncertainty of the prospects for world development. Main components of such politics are the struggle for jobs for Americans and competition for highly skilled labor in the global labor market. The main topic of research is focused on migration policy is an essential component of the overall reform plan. Taking into account that until recently the USA was the largest economy in the world, the author concludes that the US migration policy has a multifaceted global impact on the international labor market, since the USA is the main importer of labor. The main factors that have a decisive influence on the effectiveness of the implementation of the declared course are the features of the functioning of the American labor market (including the high cost of local labor and the lack of qualified personnel in a number of sectors of the American economy). Analyzing the effect of these factors, the author notes their contradictory effect on the country's economy and concludes that the measures taken are insufficient due to the situation of tough confrontation between the main political forces in modern America. The author claims that the growing global competition for highly qualified personnel will remain one of the main trends of the upcoming era. The aim of the work is conceptualization of approaches to the study of migration processes in the conditions of the technological transformation of the modern world and the interpretation of international experience in the reform of migration policies.

47-56 753
Abstract

Cutting US Federal Reserve’s policy rate in response to coronavirus, financial measures to fight the possible perspectives of recession may be very effective in the short run, but the case is more complicated than ever been. The usual tools of economic policy are under the question and Trump's trade policy seems to be on the way of the United States fight against COVID-19. The American tariffs on Chinese products – from protective gear for doctors and nurses, personal protective equipment, masks, sterile gloves to the medical equipment – have its impact on the United States market and may contribute to shortages of these products. So the Trump administration’s tariffs may hit medical products which are needed for treating COVID-19 and become an obstacle to fight this pandemic. While some exclusions were made, their effectiveness is limited. At the same time cancellation of sanctions may contribute to fight this pandemic by allowing access to medical products and supporting international trade at the face of recession.

57-70 737
Abstract

The purpose of this article is to assess the extent, trends and consequences of the development of the financial technology market in China. To do this, an analysis of the current state of the Fintech market in China was carried out, the development factors of this market in the country and the consequences of the rapid development of the market for the entire economy of China were identified. It was concluded that the Chinese Fintech market is the leading market in the world in terms of transaction volumes and revenue. Areas were identified in which the development of the Fintech market had the greatest impact on the Chinese economy: the growth of the penetration of cloud technologies in the financial sector of China, the involvement of new segments of the population in the financial sector, and the increase in the efficiency of financial services.

ECONOMIC INTEGRATION

71-87 744
Abstract

The Trump administration’s economic policy has led to increased uncertainty, disruption to global value chains, decline in trade in the Asia-Pacific region. Amid the US withdrawal from the Trans-Pacific Partnership, revising NAFTA, imposing tariffs, decoupling from the Chinese economy, Japan, China and other economies in the Asia Pacific are trying to develop new mechanisms to increase stability in the region and protect their production networks. One way to improve the situation is to conclude intra-regional and inter-regional free trade agreements, the number of which is increasing. At present, there are two competing mega-FTA projects of China and Japan – the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The United States is with moderate success developing its own format of a free and open Indo-Pacific, which is partly a counterbalance to the RCEP. The US also concludes bilateral agreements, such as first phases of trade deals with Japan and China. However, winning the negotiating table, the United States can seriously lose in competitiveness, as regional integration develops further and often without the participation of America.

FOREIGN ECONOMIC RELATIONS OF THE RUSSIAN FEDERATION

88-102 602
Abstract

Space is not only a place of international cooperation, but also a place for competition. The failures that accompanied the key player in the market, the United States, have recently stimulated NASA's ambitious commercial space program which has enabled a successful partnership with two American companies. This new business model should not only reduce the cost of flights, but also create a basis for further space exploration. In order to create sustainable economic growth in Russia, it seems necessary to develop the whole range of priority areas. One of the most promising is the rocket and space industry. The reasons are the large turnover, experience and unique technological competencies. We believe that Russia will succeed in case it activates internal reserves of a country and wisely uses global market opportunities. Technical and technological development of the rocket and space and related industries will strengthen the state’s position in the world market and will enhance the international competitiveness of Russian enterprises. In this article, authors analyze the current state of the Russian and world space markets, evaluate the performance of RSC «Energia», formulate proposals for modernization of company's activities that will help Russia strengthen and expand its positions among the global players.

103-116 878
Abstract

The research paper focuses on identifying the conditions in which Yamal LNG can effectively finance construction work through private investment. The Case study of the Yamal LNG liquefied natural gas production complex, the ratio of the shares of public and private investment in the project for the construction of the Utrenniy terminal is considered. The authors analyze possible ways of financing construction works: using Yamal LNG's own funds, Bank lending, and a loan from NOVATEK PJSC, as the main shareholder of the project. Calculations are made and the expediency of issuing and receiving a loan from PJSC «NOVATEK» for the construction of the terminal «Untrenniy» in the port of Sabetta is proved. Regression analysis confirms the possibility of repayment of the loan from the main Yamal LNG activities is proved. As a result of the study, methods of analysis of solvency, liquidity, autonomy, cash flow analysis, forecasting and generalization methods are used. This analysis allows to take into account the scale of activity of one of the largest operators for the supply of liquefied natural gas in Russia.

117-130 464
Abstract

The article considers the problem of increasing the reliability of Russian gas exports to non-CIS countries from the point of view of guaranteed purchases in the required annual volumes by these countries in total. This export reliability is also largely affected by the position of the countries that transit this gas, which are trying to extract the maximum financial and consumer benefits for themselves through their gas transmission system using their monopoly transit position. To change this established order of things, and, consequently, reduce dependence on a limited number of consumers of Russian gas - mainly EU countries, and on the countries that are transit countries of this type of fuel – Ukraine and Belarus, Russian gas companies are accelerating the diversification of routes and delivery methods Blue fuel to consumers in foreign countries. New gas pipelines to Europe are being intensively built, bypassing the mentioned countries-traders, which can significantly increase the reliability of Russian gas exports to European countries at an affordable transit price. To reduce the dependence of the export opportunities of Russian gas companies on the purchasers of their blue fuel – first of all, the EU countries, Gazprom is deploying pipeline gas supplies to China and is considering other gas projects for implementation in Southeast Asia. At the same time, natural gas liquefaction production is being built in Russia with the aim of large-scale export to both the countries of the Asia-Pacific region and European countries. Consequently, a set of large-scale events held by Russian gas companies will increase the reliability and timeliness of deliveries of Russian blue fuel to non-CIS countries.

TRADE POLICY

131-145 1537
Abstract

The article analyzes the main trends and prospects for the development of the global and Russian tea market. It reviews and analyzes the main directions of development of the tea market in the world, provides an international classification of black tea, shows the main countries manufacturers, importers and exporters of this product. The dynamics of tea production, import and export in the Russian Federation over five years showed in this article by using analytical indicators. Also were identified the main reasons for the changes and analyzed the leading players-producers of the domestic tea market, as well as showed the main trends characteristic of the development of this market in immediate prospects. The article considers the general structure of the tea market in natural terms and provides the results of analysis of changes in consumer preferences. Within the framework of the study, the assortment of the Perekrestok retail network was studied as a tool for forming and maintenance commodity stocks of this economic entity. ABC-analysis was used to analyze the assortment of black tea. Based on the results of the study, recommendations were developed and proposed for further work with the assortment of this product group.

146-161 552
Abstract

The development of the sharing economy has affected the change in the passenger transportation market, as online platforms for taxi services have appeared. For example, Uber Technologies plays a significant role in the market, which in 2017 won first place in the top 10 startups of the sharing economy. Currently, there are many problems that arise with the regulation of online taxi platforms. The Organization for Economic Co-operation and Development, together with the International Transport Forum, is conducting a study of the law enforcement practices of countries regarding the regulation of online taxi platforms (or taxi aggregators), in particular, the problems of deploying the online platform for the transport of passengers and baggage by passenger taxi as a regular online platform or as a transport provider, and licensing problems for such online platforms, problems of control over obtaining permission directly by the driver, problems of vehicle safety of control over the drivers, ensure quality of service, traffic security problems and etc.



ISSN 2410-7395 (Print)
ISSN 2414-4649 (Online)