logo

Issues of Modern Geoeconomics

Abstract

The rapidly changing political and economic landscape represents a combination of challenges and opportunities for new correlation of forces between the centers of influence, the emergence and growing activity of new players, the growing role of external factors. For about 20 years after the end of the Cold War, the global politics and economy were dominated by the United States, which had technological, economic, financial, military and political superiority. Being the first state to build post-industrial economy, the USA managed to create an efficient innovation system that provided leading American companies with dominance in the global markets for medium- and high-tech goods and services. The economic leadership of the United States is largely due to their dominance in the global monetary and financial system. In a new political and economic map one can see the loss of influence by Japan and the European Union, while new balance of economic forces emerges under the influence of the interaction and confrontation between the USA and China, as well as the growth of the Indian economy. The global map is undergoing serious changes under the pressure of proposed transregional metagroups and active integration processes as well growth of China's geo-economic activity. The increasing role of Asia-Pacific region in the global economy will especially become apparent as a result of the implementation of China's geo-economic ‘Belt and Road’ initiative. In globalized sectors there are transnational networks dominated by the largest TNCs. The political and economic interests of Russia require changes of the current economic policy and new geo-economic strategy both at the state and the largest companies level.

Keywords:

International Political Economy; globalization; USA; China; India; Russia; BRICS; Belt and Road Initiative; metaregional  partnerships; transnational  corporations; geo-economic  strategy.

 


Authors: Natalia Konina

Read the article in PDF