GLOBAL ECONOMIC DEVELOPMENT. GLOBAL ECONOMIC PROBLEMS
Актуальность исследования процессов и проблем декарбонизации как все более широко распространяющейся глобальной тенденции развития предопределяется целым рядом факторов – экологических, экономических, социальных, технико-технологических, финансовых и международных. Исследование этого процесса актуализируется также в связи с ростом глобальной нестабильности и во многом выступает ее катализатором. Автор обращает внимание на взаимосвязи между устоявшимися в мире интересами в сфере ископаемого топлива и необходимостью борьбы с изменением климата, в связи с чем понятие климатического риска приобретает все большее значение. Автор приходит к выводу о том, что политика декарбонизации выступает инструментом для достижения устойчивого будущего, в фокусе которого находятся глобальные и местные цели в области охраны окружающей среды, борьбы с изменением климата и улучшения качества жизни населения. Основными задачами политики декарбонизации являются снижение углеродных выбросов, переход к возобновляемым источникам энергии, оптимизация энергетической эффективности и трансформация транспортных и промышленных секторов, что требует инновационных подходов и активного участия всех слоев общества (включая международное взаимодействие). Кроме того, cделан вывод о том, что России и в целом странам ЕАЭС важно обращать больше внимания на формирование и реализацию политики декарбонизации, в том числе как направление интеграционного сотрудничества.
In the context of the destabilization of the global economic and political space, the sanctions war by Western countries against many states of the world, including the Russian Federation, negatively affecting all spheres of economic activity – national and global – and the widespread spread of digital technologies vulnerable to technical and other challenges. The task of ensuring national security, including its financial market, is being actualized. The article presents an analysis of the current level of digitalization and ensuring the security of the Russian financial market in comparison with foreign characteristics. It is shown that in accordance with global trends, a number of advanced financial technologies have been introduced in the financial market of the Russian Federation due to the formation of legislative, institutional, technical, personnel and other factors. However, in the national financial market, due to its ongoing digitalization, some problems and contradictions persist (and/or may arise under the influence of externalities) that require close attention from the government and business to solve them, including in the field of the digital ruble.
INTERNATIONAL ECONOMIC RELATIONS
The article considers gas cooperation between China and Russia in the context of the Western sanctions policy towards Russia, as well as its prospects. Such indicators as the volume of natural gas exports to China from 2021 to 2024, the rate of export growth over the same period, gas prices and routes through which gas is supplied to China are analyzed. The author concludes that gas supplies from the Russian Federation to China are steadily growing against the backdrop of a decrease in the total volume of Russian pipeline gas exports. Moreover, gas is exported to China at prices that suit both parties to the agreements, given the high growth rate of supplies. Particular attention is paid to the analysis of the routes through which gas is supplied from Russia to China. The work focuses on a comparison of two new proposed routes for gas supplies from the Russian Federation to China via Mongolia and Kazakhstan based on a number of production and financial characteristics. It is concluded that cooperation between China and Russia in the gas sector is mutually beneficial, with the exception of some projects such as Power of Siberia - 2.
The article considers Russian-Chinese energy cooperation as an object of research, analyzes the achievements of both sides in the field of energy trade, joint infrastructure construction, and examines the prospects for expanding cooperation between Russia and China in the energy sector. The authors pay special attention to the consideration of the Yamal natural gas liquefaction project and the identification of international political and economic risks that affect the implementation of the project. It is noted that Russian-Chinese energy cooperation is based on complementarity: Russia is easing the pressure of Western sanctions by expanding energy exports The article considers Russian-Chinese energy cooperation as an object of research, analyzes the achievements of both sides in the field of energy trade, joint infrastructure construction, and examines the prospects for expanding cooperation between Russia and China in the energy sector. The authors pay special attention to the consideration of the Yamal natural gas liquefaction project and the identification of international political and economic risks that affect the implementation of the project. It is noted that Russian-Chinese energy cooperation is based on complementarity: Russia is easing the pressure of Western sanctions by expanding energy exports
One of the issues, which arouse discussions in the field of trade remedies today, is the issue of whether a normal value may be adjusted while calculating a dumping margin in the case of state intervention in the economy. For the last 10 years the importance of this problem has been growing. A number of countries presume that they have the right to reject or adjust the information submitted by exporters for the calculation of a normal value in anti-dumping investigations on the basis that the economy of the exporting country is non-market/noncompetitive/distorted. Therefore, a dumping margin as well as an antidumping duty, which exporters have to pay, are overstated. The aim of this article is to analyze the problem of application of non-market methodologies in anti-dumping investigations within historical and present background. Taking into account the changes which are happening now in the world economy as well as the crisis of the World Trade Organization due to the non-functioning Appellate Body, the use of the notion «non-market» for anti-dumping measures may not only lose its significance but, on the contrary, may become a widely used instrument in the competition between the countries.
In the context of growing global instability and the fundamental transformation of the world economy caused by it, the task of exploring and rethinking those transformations that are an inevitable consequence of comprehensive global processes and developing trends is becoming urgent. The purpose of the article is to analyze the transformations that are taking place within the EAEU in connection with changes in the global and regional integration process and to exacerbate the "integration turbulence" in the regional union. On the other hand, they can also contribute to the development and strengthening of regional integration as an opportunity to reduce volatility and ensure the stabilization of socio-economic processes in the region and individual countries of the association. The article describes the processes destabilizing the global economy. The author shows that there is indeed a restructuring of the integration processes in the EAEU towards their deepening and ensuring national security, along with the strengthening of "open regionalism". The author concludes that there is currently great potential and broad prospects for expanding the integration processes of the EAEU with the Asian region, including the possibility of participating in a large-scale project of the Asia-Pacific Free Trade Area. At the same time, the signing of FTA agreements and the establishment of close partnerships with ASEAN countries opens up access to the global global market for EAEU countries in the Asia-Pacific region.
WORLD ECONOMY
The article systematizes the problems of farms households in North and East African countries under conditions of import dependence. The methodological foundation of the study incorporates four key concepts: institutional theory, food security theory, sustainable development theory, and import dependence theory. Their comprehensive application made it possible to examine both macroeconomic and microeconomic factors that shape the vulnerability of the region’s farming households to external market fluctuations. The article employs methods of systems analysis, content analysis of strategic documents, and classification, which enabled the identification of the primary groups of farmers’ problems: those directly related to import dependence (e.g., high cost of imported goods, lack of modern technologies and equipment), indirectly related (lack of investments, low profitability, land degradation), as well as independent of imports (political barriers, low educational levels, underdeveloped infrastructure). The proposed classifications take into account the nature of these issues (systemic or operational) and their level of manageability (resolvable at the level of farming households, the state, or requiring international cooperation). It is revealed that addressing these problems necessitates a comprehensive approach that combines reforms in agricultural policy, the development of local infrastructure and cooperatives, improvement in farmers’ education, and the introduction of innovative technologies. The findings can be used to formulate a sustainable development strategy for the agro-industrial complex of North and East African countries aimed at reducing import dependence and enhancing food security.
МЕЖДУНАРОДНАЯ ТОРГОВЛЯ
The article analyzes the main approaches to the interpretation of the category "e-commerce", shows its existing forms, and focuses on the emergence of new ones, including social commerce, mobile commerce, etc. The scope of e-commerce facilities is also expanding, which is not limited to consumer goods and is increasingly attracting industrial equipment into its orbit. The relevance of this study is due to the need for a comprehensive analysis of international e-commerce standards and an assessment of their impact on national regulatory and development processes. The article analyzes key international agreements and regulations in the field of e-commerce. The study showed that international standards and multilateral agreements play a key role in shaping the legal and institutional framework for digital commerce at the national and global levels, ensuring transparency, compatibility and trust between participants in cross-border transactions. Organizations such as the WTO, UNCITRAL, ISO and the OECD form principles that ensure the harmonization of e-commerce rules at the global level. However, not all aspects of developing e-commerce, including in formal terms, are fully regulated today. It has been established that the main factors in the development of e-commerce at the global level are the expansion of Internet infrastructure and access to digital technologies, financial inclusion and payment solutions, logistics infrastructure and delivery services, socio-economic and cultural factors, globalization and market integration, as well as technology transfer, as well as external shocks and special circumstances.
The increasing volume of counterfeit products in international trade is a serious problem that threatens the socio-economic development of any country and negatively affects its economy. The problem of counterfeiting in the world, as well as in the Russian Federation, is currently very acute, since low-quality goods of unknown origin cause not only economic damage to the state and market participants, but also pose a significant threat to the life and health of citizens, especially when it comes to counterfeit medicines or food. Therefore, the need to combat the turnover of counterfeit products is becoming urgent. One of the main methods of struggle designed to prevent the appearance of counterfeit goods on the domestic market is customs regulation, which is carried out by customs authorities. The Federal Customs Service of Russia and its structural divisions play a crucial role in combating illicit trafficking in counterfeit products, actively using the full range of tools and methods at their disposal to prevent counterfeit products from entering the country's domestic market. Despite the difficulties that have arisen at the present stage of customs control due to the unfavorable external economic situation, the customs authorities manage to fulfill their tasks related to protecting the domestic market from counterfeiting, ensuring a high level of economic security in the country.
GLOBAL INVESTMENT PROCESSES
Attracting venture capital investments into the technological sector of the economy is a complex task at the state level. Since the 1990s, numerous programs have been implemented in Israel to develop the R&D system, stimulate innovation, and attract investment in the high technology sector. A comparative analysis of the systemic factors of the Israeli model of attracting venture capital investments in relation to other small countries of the world has been carried out. A systematic approach has been developed to the factors influencing the attractiveness of the country's venture ecosystem for investors. Using the example of Israel, significant variables were identified in order to analyze the applicability of the model in other small countries. Three geographical clusters of countries are considered: in the Caucasus (Armenia, Georgia, Azerbaijan), in Western Asia (UAE, Qatar, Oman, and Israel as a benchmark), and in Southeast and East Asia (Singapore, Hong Kong, and Taiwan). A rating assessment of the attractiveness of venture ecosystems of countries for investment was carried out through ranking factors. Strengths and weaknesses of venture ecosystems of countries both within clusters and between countries in different clusters were identified. The relevance of the research topic is due to the importance of the task of attracting venture investments in the technology sector of the economy of small countries, to increase the contribution of high-tech industries to economic growth and create a basis for the well-being of countries in the new era.
The article analyzes the role of international banking regulation in ensuring the stability and development of the global economy. International banking regulation helps to reduce the risks associated with the activities of banks and increase confidence in the banking system. However, it can have negative consequences, such as reduced competition and increased costs. The main principles and mechanisms of regulation, its impact on financial stability and economic growth are considered. The possible consequences of stricter capital and liquidity standards for banks under the new Basel III scheme are being investigated. The main objectives and standards of the Basel III mechanism are considered. The impact of international banking regulation on financial stability and economic growth is assessed. One of the latest trends in the development of the global economy is the use of digital financial assets (CFAs). The article discusses the possibilities and limitations of using CFA as a means of payment in the context of international banking regulation. The distribution of CFA placements between various information system operators based on data for 2024 showed that Alfa-Bank is the market leader, accounting for half of all placements. A significant share also belongs to the Masterchain. The remaining operators have significantly smaller volumes. The article focuses on the prospects of adapting international banking regulation to the new challenges associated with digitalization and the development of new technologies. In conclusion, the need to develop new approaches to regulation, such as a risk-based approach and the development of international cooperation, is emphasized.
The purpose of this study is to identify the characteristic features of international investment cooperation of Moscow at the current stage of development in the context of sanctions restrictions and growing geopolitical contradictions. To achieve the purpose mentioned above a number of tasks were identified: to assess the capital’s place in authoritative national and international ratings of investment attractiveness; to determine the specific features of the development of the dynamics of Moscow's foreign direct investment flows and to identify the impact of sanctions restrictions and the current geopolitical situation on the activities of foreign businesses. The relevance of the chosen topic is determined by both the growing role of territorial units, including regions of Russia, in conducting international and foreign economic activity, in particular Moscow and its economic entities, and the need to transform the strategy for attracting foreign investment in the current conditions of volatility of external factors. The author used statistical research methods generally accepted for studying foreign economic activity, as well as general scientific methods: comparison, analysis, tabular and graphical methods of presenting results. The author revealed the leading position of Moscow in terms of the volume of attracted FDI among all regions of Russia, formulated characteristic features of the development of international investment cooperation in Moscow at the current stage and proved the investment attractiveness of the capital's economy in the context of sanctions restrictions, for international business.
ISSN 2414-4649 (Online)