Anti-russian Sanctions and the Systemic crisis of the World economy

2015 ◽  
pp. 49-68 ◽  
Author(s):  
V. Simonov
Keyword(s):  
Development Strategy ◽  
Financial Crises ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Import Substitution ◽  
Exchange Market ◽  
The Us ◽  
The World ◽  
Systemic Crisis ◽  
The Eu

The article analyzes the causes and possible consequences of the current situation in the foreign exchange market for Russian development strategy of import substitution that the country has to develop and implement after the US, the EU and some of its allies initiated economic sanctions against Russia. It is shown that the sanctions policy follows the competition, aggravated with the onset of the structural crisis of the world economy in 2008, that is understood as the crisis in the model of inflationary growth, combined with the cyclical and financial crises.

United States and Its Challenge to Multilateralism in the Global Economy

2018 ◽  
Vol 74 (4) ◽  
pp. 402-419
Author(s):  
Krishnakumar S.
Keyword(s):  
United States ◽  
Global Economy ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Bilateral Trade ◽  
Developing Economies ◽  
The United States ◽  
The Us ◽  
The World ◽  
Merchandise Trade

With Donald Trump as President of United States, multilateralism in the world economy is facing an unprecedented challenge. The international economic institutions that have evolved since the fifties are increasingly under the risk of being undermined. With the growing assertion of the emerging and developing economies in the international fora, United States is increasingly sceptical of its ability to maneuvre such institutions to suit its own purpose. This is particularly true with respect to WTO, based on “one country one vote” system. The tariff rate hikes initiated by the leader country in the recent past pose a serious challenge to the multilateral trading system. The paper tries to undertake a critical overview of the US pre-occupation of targeting economies on the basis of the bilateral merchandise trade surpluses of countries, through the trade legislations like Omnibus Act and Trade Facilitation Act. These legislations not only ignore the growing share of the United States in the growing invisibles trade in the world economy, but also read too much into the bilateral trade surpluses of economies with United States and the intervention done by them in the foreign exchange market.

The World Economy

2004 ◽  
Vol 187 ◽  
pp. 8-35
Keyword(s):  
World Economy ◽  
Key Factors ◽  
The Us ◽  
The World ◽  
Sustainable Recovery ◽  
The Eu

The two key factors underlying our forecast this quarter are the continued depreciation of the US$, which is about 4½ per cent weaker in effective terms than in October and 18 per cent below its recent peak in early 2002, and the emergence of what appears to be a sustainable recovery in Japan. Our projections for world growth this year incorporate significant upward revisions for the world's two largest economies, the US and Japan, while the outlook for the EU and Canada remains largely unchanged, although they also gain modest support from stronger demand in the US and Asia.

The World Economy

2003 ◽  
Vol 183 ◽  
pp. 8-33
Keyword(s):  
South America ◽  
World Economy ◽  
Consumer Demand ◽  
Modest Improvement ◽  
Cyclical Variation ◽  
The Past ◽  
The Us ◽  
The World ◽  
The Eu

Risks of a US driven slowdown in world activity have receded in the past few months, as US consumer demand remains robust. However, a worsened outlook for Germany and Japan suggests that the recovery will be more gradual than previously anticipated, in part as a consequence of the strengthening of the euro and the yen against the dollar in recent months. We estimate that world growth recorded a modest improvement in 2002, rising to 2.7 per cent from 2.2 per cent in 2001. However, regional cyclical variation increased last year. While 2001 saw a sharp slowdown in growth across all the major regions of the world, with the world's three largest economies recording outright recessions, growth accelerated last year in the US, China and Dynamic Asia, but slowed further in the EU, Japan and South America.

The World Economy

2007 ◽  
Vol 201 ◽  
pp. 8-14
Keyword(s):  
Interest Rates ◽  
Return On Investment ◽  
World Economy ◽  
Oil Price ◽  
The Us ◽  
The World ◽  
Stable Growth ◽  
The Eu ◽  
Purchasing Power Parities

In 2006, global output, measured in terms of purchasing power parities, expanded by 5.4 per cent, the fastest rate of growth since 1973. Despite a higher oil price and the recent rise in global long-term interest rates, we expect world growth to remain above 5 per cent this year, with a slowdown in the US offset by the rapidly expanding China and stable growth in the EU and Japan. In this issue we explore the widening divergence between the return on investment and real interest rates in the major economies. This suggests that despite the recent rise in long real rates it remains profitable for firms to invest in many countries.

scholarly journals THE FINANCIAL CRISIS AND THE DOLLAR HEGEMONY

2012 ◽  
Vol 1 (1) ◽  
pp. 125-140
Author(s):  
Marcelo Milan
Keyword(s):  
Financial Crisis ◽  
Financial Crises ◽  
World Economy ◽  
International Reserve ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Us Dollar

This paper discusses the US dollar hegemony in the world economy. The discussion is carried out in three steps. First, the paper analyses the evolution of the US dollar in the world economy, emphasizing its resilience in the context of frequent financial crises. Second, the work discusses and compares the perspectives that trust the US dollar’s continuing role as an international reserve to those that assume a likely decline of both the dollar and the US economy after the 2007 financial crash. Finally, the article seeks to raise a few potential consequences of the continuing hegemony or declining of the dollar for the peripheral countries.

Russian economy on the background of global pandemics: the basic contours of «new reality»

2020 ◽  
pp. 4-15
Author(s):  
I.I. Smotritskaya
Keyword(s):  
World Economy ◽  
Russian Economy ◽  
Current State ◽  
The Us ◽  
The World ◽  
Economic Reality ◽  
Short And Long Term ◽  
Characteristic Features ◽  
The Eu

The article deals with conceptual issues related to the adaptation of the Russian economy to the new financial and economic reality that is emerging as a result of the COVID-19 epidemic. The current state of the world economy is studied, the main characteristic features of the «new reality» are highlighted, and the complex of anti-crisis measures implemented in the US and the EU is considered. The results of forecast assessments of the consequences of the pandemic for the economy of our country in the short and long term are analyzed; the principles, priorities and vectors of post-crisis development of the Russian economy are substantiated.

About current problems of development of the world financial system

2019 ◽  
Vol 39 (2) ◽  
pp. 172-178
Author(s):  
E. V. Zenkina ◽  
Y. S. Begma
Keyword(s):  
Money Supply ◽  
Foreign Exchange ◽  
World Economy ◽  
Foreign Exchange Market ◽  
Modern World ◽  
Exchange Market ◽  
Credit Expansion ◽  
Financial Bubble ◽  
The World ◽  
Classical Principle

Domination of the financial sphere in modern world economy is caused first of all by issue of credit monetary requirements. Such issue exceeding the volume of fiat deposits breaks a ratio between money supply and cost of the consumed goods. The arising imbalanceis stimulated also with growth of a share of virtual products for which the classical principle of pricing on the basis of expenses of factors of production is initially broken. The financial bubble grows and remains firm so far the trust to the world foreign exchange market remains. But credit expansion cannot be infinite.

Russian Policy of Agriculture Support and the Necessity of Its Modification after WTO Accession

2012 ◽  
pp. 132-149 ◽  
Author(s):  
V. Uzun
Keyword(s):  
Comparative Analysis ◽  
World Trade Organization ◽  
Agricultural Production ◽  
World Trade ◽  
The Us ◽  
The World ◽  
Wto Accession ◽  
The Eu ◽  
Agriculture Support

The article deals with the features of the Russian policy of agriculture support in comparison with the EU and the US policies. Comparative analysis is held considering the scales and levels of collective agriculture support, sources of supporting means, levels and mechanisms of support of agricultural production manufacturers, its consumers, agrarian infrastructure establishments, manufacturers and consumers of each of the principal types of agriculture production. The author makes an attempt to estimate the consequences of Russia’s accession to the World Trade Organization based on a hypothesis that this will result in unification of the manufacturers and consumers’ protection levels in Russia with the countries that have long been WTO members.

Upheaval in the distribution of power in the world economy: Problems and outlook of the world economy to 2050

2017 ◽  
pp. 114-127 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
International Trade ◽  
World Economy ◽  
Emerging Market ◽  
Detailed Review ◽  
Depressed State ◽  
Industry Output ◽  
The World ◽  
Distribution Of Power ◽  
The Eu

Causes of upheaval in the distribution of power among large advanced and emerging market economies in the XXI century, especially in industry output and international trade, are a topic of the paper. Problems of employment, financialization and income distribution inequality as consequences of globalization are identified as the most important. Causes of the depressed state of the EU and the eurozone are presented in a detailed review. In this content, PwC forecast of changes in the world economy by 2050, to the author’s view, optimistically provides for wise and diligent economic policy.

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

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