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Vol 7, No 3 (2021)

WORLD ECONOMY AND INTERNATIONAL ECONOMIC RELATIONS

9-22 503
Abstract

The article analyzes the directions and economic consequences of the immigration policy pursued by the Biden administration in the context of global shifts taking place in the modern world, as well as taking into account the peculiarities of the development of the internal political situation in the country. Today we can talk about the transitional state of the entire global system of social relations, we can talk about the situation of world transition that humanity is going through, which is reflected in the instability of the modern world, in the state of general uncertainty that society is experiencing. The growing chaos inevitably accompanies the process of destruction of the old order of things – institutions, mechanisms of interaction, actors; it has a significant impact even on countries in which there were no doubts about the stability of the situation before. We observe a picture of the growing fragility of the foundations of social existence today in the United States, which until recently was the only and unconditional world economic and political leader. The current situation both in the country and in the world is unlikely to allow the American president to ignore the realities of life, including economic ones, being completely in captivity of a purely ideological discourse, and this is already happening.

23-29 402
Abstract

The speed of the economic is estimated to improve at the beginning of the third decade. After pandemic stress and economic restrictions of the last year, the domestic product of the world is expected to grow during the current year, with G 20 countries (as a whole), and especially China, doing better than the world and much better than for example the countries of the euro zone. The economic activities in the United States, after slowing at the end of the last year; tend to grow higher than the major advanced economies in Europe are projected. Different economic growth rates are also among the sectors, and the economies that most dependent on travel, tourism, other services suffer most. As to world merchandise trade it shows returning to pre-pandemic levels. But time is needed for consumer confidence recovering progress, labour market improving, losses due to increased poverty. Meanwhile the fiscal support continues growing with records leading, for example, in the United States to budget deficit exceeding one of the last year. The effects of the planned fiscal stimulus remain mainly uncertain concerning both economic activities and the prospects of raising tax revenues to moderate the speed of growing budget deficit.

30-42 769
Abstract

The article is devoted to an urgent topic-the study of the development of the Republic of Uganda in social and economic aspects. The purpose of the article is to analyze the main trends in the socio-economic development of the Republic of Uganda in the XXI century, focusing on foreign trade processes and their role in general economic and humanitarian processes. The analysis was carried out on the basis of statistical data from the international statistics of UNCTAD, as well as other primary sources, primarily data from the National Ministry of Finance, Planning and Economic Development, the National Population Council of Uganda, etc. for 2000–2019, as well as earlier periods (since 1970) and 2020 – to ensure comparability. The author comes to the conclusion that in the socio-economic development of Uganda, along with obvious successes – steady GDP growth, the development of the leading segments of the economy, infrastructure, human capital – serious problems and imbalances remain, the solution of which, in the author's opinion, lies in the plane of international cooperation, and above all – in the scientific, technical and integration spheres. As a member of the integration association of the East African Community Uganda actively cooperates at the regional level in a number of areas (economic, infrastructural, educational), which increases the stability and stability of the country.

43-49 564
Abstract

Israel is one of the most favorable countries for conducting entrepreneurial and innovative activities with the largest number of startups per capita. The article analyzes the culture of creating startups that has developed in Israel as a result of the state policy aimed at developing venture capital and attracting foreign TNCs to the country. Within the framework of this culture, startup projects are in most cases created with the aim of actively attracting funds and selling them to foreign companies as soon as possible to make a profit. However, this model poses a threat to the stability of the economy in the long term. There is a shortage of large stable companies in the country that are able to carry out domestic investments. Moreover, there is a leakage of the most popular and progressive technologies from the country, attention is paid more to the number of new startups and their capitalization, rather than rooting within the country. As a result, Israel is characterized by one of the lowest indicators of the level of technology development among developed countries. To ensure the long-term competitiveness of the country, reforms are needed aimed at retaining intellectual property within the country and its implementation in the branches of the national economy.

50-63 1341
Abstract

The article examines the flows of foreign direct investment (FDI) in the countries of Latin America and the Caribbean (LACB) for the period from 2010 to 2020. The sources of capital inflows, their structural components, as well as the distribution of attracted investments by sectors of the recipient countries ' economies are analyzed. Quantitative indicators of FDI inflows and outflows for individual countries and for the region as a whole are presented, highlighting general trends. The trend of a decrease in the volume of attracted FDI in the LACB is emphasized. It is concluded that the decrease in foreign direct investment in South American countries confirms the direct dependence of FDI inflows on macroeconomic conditions and fluctuations in world commodity prices. Changes are noted in the approaches of multinational corporations to invest capital abroad in the context of the COVID-19 pandemic in favor of their local or cross-border use. The assessment of the actions of the authorities of the states of the region to attract foreign investment is given. The article examines the situation in the field of unresolved investment disputes involving the countries of the region and its impact on investment attractiveness. The role of Chinese FDI in the region, including its effectiveness in political terms, is considered separately.

МЕЖДУНАРОДНАЯ ТОРГОВЛЯ

64-78 849
Abstract

The article analyses the goals and imperatives of the Republic of Korea’s trade policy before the COVID-19 pandemic and taking into account its consequences. The RoK's trade policy aims to synchronize the interests of the state, conglomerates and small and medium-sized enterprises. For this purpose, a system of division of powers in the field of trade policy and diplomacy has been designed, which has proven to be very effective. The COVID-19 situation, which has exacerbated the growing trend of protectionism in international trade, highlighted the chronic structural problems of trade in the Republic of Korea of trade in the area of geographical and commodity structure – despite the positive dynamics of the country's exports. The challenge of countering protectionism, coupled with the need to diversify the commodity and geographic structure of exports, implies two areas of work: strengthening an industrial structure capable of producing competitive goods and expanding the network of free trade agreements. The need to address logistical problems, digitalization, and the trend towards decarbonization forces Korea to rely more heavily on the idea of promoting free trade. The country's leadership continues to criticize protectionism, guided by the idea of a balanced use of bilateral and multilateral instruments of liberalization.

79-89 1130
Abstract

The article is devoted to a topic that has been significantly updated in the last 5 years – the study of the ancient Great Silk Road as the historical predecessor of the Chinese initiative "One Belt – One Road". This initiative has involved dozens of countries on all continents of the Earth in its sphere. Many of them continue to wonder about the effectiveness of this project for China, other countries, the world economy and trade in general. The purpose of the article is to study the deep historical roots and significance for the socio-economic evolution in the past – with an emphasis on foreign trade aspects-and their role in general economic and humanitarian processes. The historical objectivity and validity of both the ancient Silk Road and the modern "One Belt, One Road" initiative are shown. The author comes to the conclusion that the ancient Great Silk Road played an extremely important role in the socio-economic development of China and other countries along the way, and at the same time provided the opportunity for intercivilizational communication, which together is extremely important in the conditions of the modern unstable world. The following research methods were used in the article: historical and economic analysis, induction and deduction, analysis and synthesis.

FOREIGN ECONOMIC RELATIONS OF THE RUSSIAN FEDERATION

90-105 411
Abstract

The article examines how the transforming picture of the world and the changing balance of political forces in the Eurasian space affect Russian economic security. The authors make an attempt to assess this influence, first of all, in the light of changes in the geopolitical situation in the world, when the concept of a polycentric world was put forward in contrast to the economic and political dominance of the West. The sanctions imposed by Western European states and their consequences have given a certain impetus to the development of the Russian economy and its movement towards overcoming dependence on imports. This vector of the national economy, in turn, provided significant support to Russia in the context of the COVID-19 pandemic. Recognizing that at present, estimates of how the Russian economy has overcome the consequences of the coronavirus crisis are only conditionally objective and much depends on the current information policy, the article provides data from major international organizations and agencies on the impact of the pandemic on the economic growth of Russia, developed countries and the EAEU countries. Considering the events on the southern borders of the post-Soviet space that have worsened regional security, the authors determine the position of Russia in its relations with the Central Asian republics, as well as priorities in the development of Eurasian integration to ensure its national security.

106-115 753
Abstract

The article presents an analysis of the foreign trade of the Russian Federation and the European Union in the XXI century, especially in terms of Russian exports to the EU. The purpose of the article is to study the dynamics and structure of Russian exports and to identify both absolute and relative, as well as quantitative and qualitative changes in this process. The author comes to the conclusion that the EU as a market for Russian goods, while maintaining a generally traditionally high degree of importance, is becoming more and more unstable and therefore less and less attractive. The EU's role as Russia's leading export partner tends to decline – influenced by a number of factors that are largely objective for Russia, but not always and not fully so for the EU. In modern conditions, there is a gradual transformation of the commodity structure of Russian exports to the EU in the direction of reducing the share of raw materials. The study was conducted for the period 1995–2019 on the basis of data from the international statistical database of UNCTAD to ensure the reliability and comparability of the data. In the course of the research, the author used the following methods: analytical, statistical, scientific abstraction, induction and visualization method.

116-132 528
Abstract

The recent interest in the topic of agri-food exports is caused by investment activity in agriculture after 2014 and, as a consequence, the positive dynamics of the main indicators of the industry's development. Russia’s food exports has grown more than 15 times since the early 2000s, and the dozens of countries around the world buy this food. At the same time, there are structural and regional features that indicate the limited results achieved in foreign trade, but Russia’s agri-food exports are growing only at the expense of three categories of goods (grain, vegetable oil and fish) with a lower added value than by top-processed food products. It is noted that despite the large number of importing countries, only a few of them purchase significant volumes of Russia’s food. The aim of the study is to quantify the regional differences in the involvement of the territory in the export of food and agricultural raw materials. The assessment showed that most of the Russia’s regions are poorly involved in foreign trade, therefore more than half of all food exports belong to several regions that have a large seaport and produce one of the three main food products. Based on the assessment results, a typology of Russia’s regions is presented according to the criterion of involvement in Russia’s export of agricultural products, taking into account the characteristics of exported products (upper, middle or lower processing). The results obtained make it possible to assess the real export activity of the agroindustrial sector of the regions and the potential for its increase in the future. To calculate the dynamics and regional distribution of Russia’s food exports we used the database of the Federal Customs Service of Russia (HS codes 01-24). In the article, we also calculated the Balassa index and the export diversification index, modified for analyzing the involvement of Russia’s regions in the export of agricultural products.

133-148 496
Abstract

Grain production determines the stable functioning of the food market and the economic security of Russia. The authors present an assessment of the results of the analysis of the cultivation and sale of grain crops in the Russian Federation, show the dynamics of the Russian grain market and determine the prospects for its development in comparison with world grain producers. A decrease in the dependence of this market on the negative impact of external factors was revealed. It is noted that the domestic demand for grain crops tends to decrease, while the export remains at a high level. In this regard, the role of grain as a strategic export commodity for the Russian Federation is increasing, which has a significant impact on the economy as a whole and the budget of the Russian Federation in particular. At the same time, the Government of the Russian Federation uses various mechanisms for regulating prices for grain crops, such as curbing grain exports with tariff quotas. The article also presents data on the volume of world grain production over the past ten years, analyzes the structure of production by types of grain crops. Based on the given forecasts of the FAO and the International Grain Council (IGC) regarding the production and consumption of cereals in the world in the next two years, the authors assume an increase in the export potential of Russia, primarily wheat. The study used general logical methods: analysis, synthesis, generalization, induction.

CUSTOMS SUPPORT OF FOREIGN ECONOMIC ACTIVITY

149-162 912
Abstract

In order to develop the "single window" mechanism in Russia, the article analyzes the foreign experience of its application. The analysis of foreign experience in the development and implementation of the "single window" mechanism has shown that the simplification of the customs control procedure not only in the EAEU, but also in many countries of the world, indicates the effectiveness of such a mechanism in terms of documentary control over goods and vehicles of international transportation. It is established that all authorized state regulatory bodies of foreign countries use a single platform for obtaining and processing data on goods and participants of foreign economic activity, which allows linking the work of such state bodies into an integrated system. Such platforms are DAKOSY (Germany), PortNet (Finland), UNI-PASS (Republic of Korea), TradeXchange (Singapore) and ORBUS (Senegal). It was noted that the introduction of the "single window" mechanism in all foreign countries was carried out in stages. In addition, significant funding was allocated from the public-private partnership to create such a mechanism. The problems hindering the development of the "single window" mechanism in the EAEU are identified. The directions of development of the "single window" mechanism are developed taking into account foreign experience. In particular, a model of information interaction within the framework of the "single window" of the Russian Federation is proposed.



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