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Transforming the world order amid the emerging multipolarity: Evidence from the African continent

Vol. 16, Iss. 11, NOVEMBER 2020

Received: 13 August 2020

Received in revised form: 30 August 2020

Accepted: 16 September 2020

Available online: 13 November 2020

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: F02, F52, F63

Pages: 2180–2198

https://doi.org/10.24891/ni.16.11.2180

Chernysheva A.M. Peoples' Friendship University of Russia (RUDN University), Moscow, Russian Federation
chernysheva_am@pfur.ru

https://orcid.org/0000-0002-9240-6619

Subject. As the world becomes more multipolar, global leaders change their approaches to capture the areas they dominate. Currently, advocates of the Western and Eastern models clash, with the latter demonstrating a greater efficiency.
Objectives. I examine the foreign trade of the countries in Sub-Saharan Africa, including South Africa, assuming that the region's countries are teetering on the edge of the Western and Eastern approaches to determining the domination area of the leading country.
Methods. The study is based on the systems approach, comparative and statistical methods for reviewing exports and imports of Sub-Saharan Africa, illustrating the case of South Africa.
Results. As the global economy currently develops, the multipolar world and its emergence are showed to gain momentum, with Sub-Saharan Africa actively diversifying their foreign trade. I mention the way the USA, EU, China, India and Russia influence the region and evaluate development trends in south Africa's exports and imports, setting their further development trend. Notwithstanding the noticeable impact of the USA, Sub-Saharan Africa establish regional alliances and tend to follow the course of other States, with China becoming increasingly important.
Conclusions and Relevance. Transforming the world order into the multipolar format, the third-world countries should diversify their foreign trade, following multiple vectors in their economic policy, thus ensuring their own economic security and an opportunity to raise their significance regionally and internationally.

Keywords: economic policy, multipolar world order, diversification, foreign trade

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