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Economic Analysis: Theory and Practice
 

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Position of Russia in economic globalization

Vol. 19, Iss. 9, SEPTEMBER 2020

Received: 8 June 2020

Received in revised form: 20 June 2020

Accepted: 30 June 2020

Available online: 29 September 2020

Subject Heading: ECONOMIC ADVANCEMENT

JEL Classification: F01, F02, F15, F29, F42

Pages: 1646–1670

https://doi.org/10.24891/ea.19.9.1646

Smirnov V.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. The article considers the position of Russia in economic globalization.
Objectives. I focus on determining the position of Russia in economic globalization.
Methods. The study rests on the systems approach, using the methods of statistical, cluster, and neural network analysis.
Results. A slowdown in globalization has caused changes in the existing world economic relations. Russia has taken an active position among developed countries, amid a decline in the role of Chinese exports in the world. I revealed that in the context of the US trade war with China and the strengthening of protectionism, developing countries assumed the risks of loss of capital and recession. The position of Russia in economic globalization is connected with the place of BRICS in the new world order. The new conditions of globalization made it necessary for Russia to initiate the creation of new geopolitical communities, in addition to BRICS, which should include Denmark, Singapore and Slovenia. The findings form new competencies of State authorities for making managerial decisions to maintain a stable position and image of Russia in the process of economic globalization.
Conclusions. To maintain a stable position and image of Russia in the context of economic globalization, the modern objective reality requires both Russia’s participation in and initiation of various geopolitical communities. The said participation will ensure that Russia’s certain position and image is maintained in the economic globalization.

Keywords: geopolitical community, law of capitalism, new world order, stable position, economic globalization

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