⏰ TODAY at 11:00 Moscow Time (GMT+3), the Valdai Club will host an expert discussion, titled “The New Economic Order: Is it Really Possible to End the Dollar Monopoly?”

❓How realistic are the prospects for such a massive change in the world economic order?
❓What will replace the dollar?
❓How will abandoning the dollar change the global financial system?

Participants in the expert discussion will try to answer these and other questions.

A link to the live broadcast of the discussion will be posted on all online platforms of the Valdai Club: on the website, Twitter, VKontakte, Telegram and Zen.

#Norms_and_Values #dedollarisation #finance

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UPD: The livestream is over. The video of the discussion is available via the same link. Stay tuned!

🎥 LIVE: at 11:00 Moscow Time (GMT+3), we are starting an expert discussion, titled “The New Economic Order: Is it Really Possible to End the Dollar Monopoly?”

https://vk.com/video-214192832_456239088

#Norms_and_Values #dedollarisation #finance

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📷 On April 5, 2023, the Valdai Discussion Club held an expert discussion, titled “The New Economic Order: Is it Really Possible to End the Dollar Monopoly?”

Photo gallery of the discussion is available in this album.

The video of the discussion is available via this link.

Stay tuned!

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🌏 The gradual growth of contradictions with the West accelerated the formation of “pivot to the East” ideas in Russia.

Their implementation was slow. It was limited by objective infrastructural and economic conditions, as well as the absence of a direct and painful incentive for such a “turn”.

The current crisis in relations between Russia and the West, for all its appearances, is irreversible, and has driven an increase in the number and quality of ties with the non-Western world, which is becoming simply uncontested.

The “sanctions tsunami” and the impasse in relations with the West have become a very sharp stimulus for long overdue changes. At the same time, a number of difficulties and obstacles await Russia on its way to the “world majority”.

It will be difficult for Russia to make a choice between the West and the non-West, simply because such a choice is impossible in practice. Rather, Russia will have to return to its historical empathy in dialogue in interaction with a variety of cultures and ways of life, writes🗣 Valdai Club Programme Director Ivan Timofeev.

https://valdaiclub.com/a/highlights/russia-s-path-to-the-world-majority/

#EconomicStatecraft #NonWest

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💸 De-Dollarisation and Creative Destruction

On April 5, the Valdai Club hosted an expert discussion, titled “The New Economic Order: Is it Really Possible to End the Dollar Monopoly?” The programme director of the club, Oleg Barabanov, acted as a moderator.

💬 Dmitry Birichevsky, Director of the Department of Economic Cooperation of the Russian Foreign Ministry, stressed that the changing economic order and de-dollarisation were major issues. He emphasised the pragmatic approach of Russia and its desire to develop relations with all countries that follow this process, first and foremost with the so-called ‘world majority’. According to Birichevsky, the West has walked away from the goodwill established through years of cooperation, losing Russia’s trust, and it will be extremely difficult, if not impossible, to regain it. He outlined the current problems of world finance related to the neo-colonial nature of Western monetary policy and the global financial system, and noted that the world, in this regard, needs a more equitable system, the institutions of which won’t exclusively act in the interests of the West.

💬 Radhika Desai, Professor at the Department of Political Studies and Director of the Geopolitical Economy Research Group at the University of Manitoba, Winnipeg, Canada, said that the world is now at a dangerous crossroads. Western countries, led by the United States, seek to win a proxy war against Russia, in which their direct role would be limited to sanctions. As a result, sanctions return like a boomerang and hit the economy of their initiators, leading to a global economic downturn and the collapse of established economic alliances. The world is rapidly changing ang becoming more multipolar, which weakens imperialism and opens up new opportunities for non-Western countries.

💬 Alexander Losev, member of the Presidium of the Council for Foreign and Defence Policy (SVOP), believes that de-dollarisation is inevitable. Although the dollar is still the main currency used in international settlements, US sanctions have prompted other nations to pursue a process of getting rid of dollar dependence and switching to settlements in national currencies. The imbalances in the American economy have become toxic to the world. Now the model of financial super-capitalism, based on a model of endless consumption through unlimited lending, is ending, he stressed. Against this background, a process of "creative destruction" was launched - the demolition of the current financial system and the building of a new one (in the future).

💬 Natalia Zaiser, Chair of the Board of the African Business Initiative Union, outlined the course of the de-dollarisation process in Russian-African relations. According to her, moving away from dollar settlements in this area will take a lot of time. In addition, in relations between Russia and Africa, it is necessary to build a new financial model, which will be very difficult. This process has already been launched and will continue to gain momentum, but the parties need to speed up decision-making and the development of financial instruments. It makes sense to use both the tools tested within the country, and the experience of other major powers, in particular using platforms such as BRICS, she believes.

💬 Dimitri Laskaris, lawyer and Green Party of Canada activist, analysed the relationship between Canada and the United States. Noting that the US is Canada's closest ally and major trading partner, accounting for two-thirds of Canada's foreign trade, this dependence continues to grow. At the same time, the days of the US dollar as a world currency are coming to an end, which will lead to serious negative consequences for the US economy. “Unfortunately, the Canadian boat is tied to the American Titanic,” Laskaris admitted. “Canada needs to integrate into the new multipolar world.”

https://valdaiclub.com/events/posts/articles/de-dollarisation-and-creative-destruction/

#Norms_and_Values #dedollarisation #multipolarity

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🇷🇺🇨🇳 On April 5, as part of its visit to China, the Valdai Club delegation held a working meeting with representatives of the Center for Russian Studies at East China Normal University.

The two parties shared their visions of academic and expert priorities and discussed issues of partner interaction.

#valdaiclub #Valdai_ThinkTank #China

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🪖🌐 The conflict in Ukraine has become central to world discourse.

The sharing of real or fake photos and videos on social media has become a hallmark of press attention, making the boundaries between fact and fiction increasingly indiscernible. Over the course of this year of conflict, it became clear that anything goes when it comes to advancing a particular narrative, from video game images to the famous myth of the “ghost of Kiev”.

In fact, the spectacularization of this conflict has reached levels that are unprecedented in recent history. This not only keeps Western audiences entertained daily but also fuels the NATO war machine and its voyeuristic desires with the tragedy of others.

In the face of this debate, peace negotiations have been replaced by an external verdict to the parties involved in the conflict: Russia must lose at all costs. Throughout this one year, the factor of time has been manipulated both chronologically and ideationally to achieve this goal. In the chronology of events, the mainstream narrative about the conflict asserts that Russia is losing because it failed to conquer the second largest country in Europe in a month. The imagined verdict by the West is that Putin had and has this ambition. Even if that were the case, little is said about the consequences if the Kremlin had actually pursued a strategy of total control of Ukrainian territory in a few weeks. Such a presumption may be formulated from a self-expectation of mimicking the Western modus operandi in previous conflicts.

The NATO war in Ukraine against Russia has been prolonged and intensified, as increasing hostilities. If we understand violence as the acceleration of time, the longer the conflict lasts, the greater its consequences will be, writes Valdai Club expert Boris Perius Zabolotsky.

https://valdaiclub.com/a/highlights/ukraine-a-matter-of-time/

#Norms_and_Values #Ukraine

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⏰ TODAY at 15:00 Moscow Time (GMT+3), the Valdai Club will host an expert discussion titled “The Russian-Indian Relations During India’s G20 Presidency” in partnership with leading Indian think tanks.

❓To what extent does the Indian Presidency agenda correspond to the Russian vision of the G20 and its role in world politics?
❓How can Russia help achieve the main goals of the Indian Presidency?
❓How to assess the evolution of relations between Russia and India in the current geopolitical situation?

Participants in the expert discussion will answer these and other questions.

A link to the live broadcast of the discussion will be posted on all online platforms of the Valdai Club: on the website, Twitter, VKontakte, Telegram and Zen.

#Norms_and_Values #G20 #India

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📷 On April 7, 2023, the Valdai Discussion Club held an expert discussion titled “The Russian-Indian Relations During India’s G20 Presidency” in partnership with leading Indian think tanks.

Photo gallery of the discussion is available in this album.

The video of the discussion is available via this link.

Stay tuned!

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🇿🇦 The modern politicians of South Africa react extremely sharply to any manifestations of neo-colonialism and imperialism in general.

For them, this is by no means just words, not a political formula and not a rhetorical phrase. No, it’s still a painful, unhealed wound. That is why the theme of the fight against neo-colonialism for South Africa (as well as for all of Africa as a whole) is still key and politically relevant.

It is for this reason that the issues of combating global inequality (and in particular with neo-colonial practices as the most painful manifestations of this inequality) form the basis of the current South African BRICS Chairmanship in 2023.

At the same time, it should be noted, that it is this topic that most closely intersects with the relevant initiatives of the largest countries of the non-Western world (China, Russia, India and a number of other states — including countries that most actively express their desire to join the BRICS membership). 

Vadim Balytnikov writes about the fight against neo-colonialism in the political discourse of South Africa.

https://valdaiclub.com/a/highlights/the-fight-against-neo-colonialism/

#Norms_and_Values #SouthAfrica #neocolonialism

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🇷🇺🇮🇳 Russia and India in the G20: Privileged Partnership and the Proximity of Strategic Culture

On April 7, the Valdai Club, in partnership with leading Indian think tanks, held an expert discussion on “Russian-Indian Relations During India's G20 Presidency”. Oleg Barabanov, the programme director of the Valdai Discussion Club, acted as moderator.

💬 Marat Berdyev, ambassador-at-large of the Russian Foreign Ministry, G20 Sous-Sherpa of Russia, described relations between Russia and India as a particularly privileged strategic partnership. Russia and India are jointly seeking to dismantle neo-colonial practices, advocate a multilateral world order and believe that the voice of developing countries should be adequately reflected both in the system of global economic governance and in international relations.

💬 Nandan Unnikrishnan, Distinguished Fellow at the Indian Observer Research Foundation, acknowledged that the events of the past year have had a significant impact on Russian-Indian relations. Russia and India are being forced to deal with problems that they did not create, such as the effects of sanctions, Russia's financial isolation, and withdrawal from Western systems. Reviewing the bilateral international relations that the two countries have, Unnikrishnan noted that India has no other privileged partnerships of such quality as the one it maintains with Russia, but it seeks to strengthen ties with other players, including the United States, which is generating tension in Russian-Indian relations.

💬 “The crisis allows us to reconsider even very friendly and good relations in order to pursue greater interaction and a real search,” believes Viktoria Panova, Russia’s Sherpa in W20 and Vice-Rector of the National Research University Higher School of Economics. She noted that the West is exerting unprecedented pressure on India in the G20 format on issues related to interaction with Russia, but India remains neutral and promotes an agenda that is important for the socio-economic development of all G20 countries. Panova considers it necessary to develop Russian-Indian relations within the framework of the BRICS+ format inside the G20.

💬 Raj Kumar Sharma, Visiting Fellow, United Service Institution of India and Post Doc Fellow, Delhi School of Transnational Affairs, University of Delhi. In the strategic culture of Russia and India, he sees a lot in common and considers this a guarantee that friendly relations will be maintained between the two countries in the future. This commonality of approaches promotes mutual understanding.

💬 Gleb Makarevich, Deputy Head of the Centre for the Indian Ocean Region, IMEMO RAS, called it “an unfortunate paradox” that, although the positions of Russia and India on most of the global issues on the G20 agenda coincide, Western countries are trying to replace the discussion of these problems with a discussion on the conflict in Ukraine. “This contradiction stalls the work of the organisation and hinders the achievement of the stated goals,” he said, adding that the achievement of these goals is nevertheless quite possible and Russian-Indian cooperation contributes to this.

💬 Nivedita Das Kundu, Senior Fellow at York University and Academic Director at Liaison College, noted that India in the G20 is promoting a global economic governance agenda and acting as the voice of the Global South, paying special attention to issues relevant to it. She expressed her hope that in the context of India's G20 presidency, Russia and India will also develop their relations, which are characterised by a long-standing strategic partnership.

https://valdaiclub.com/events/posts/articles/russia-and-india-in-the-g20-privileged-partnership-and-the-proximity-of-strategic-culture/

#Norms_and_Values #India #G20

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🇪🇺 Dangerous, short-sighted, immature foreign policy initiatives are now at the centre of the EU agenda.

Many observers are puzzled about what guides the countries of Europe amid the current European security crisis, the largest in 80 years.

🔹 Many of the decisions being made by the EU national governments seem reckless and counterproductive, leading to the threshold of nuclear escalation.

🔹 Europe has neglected its own economic interests and put an end to centuries of economic cooperation with Russia.

🔹 It seems that the political strategy of the EU is dominated not by calculation, but by the slogans that guide the leaders of Britain, Poland and the Baltic countries. The voices of the more prudent countries in Western Europe are muffled.

This trajectory would be rational if the calculation of the collective West to defeat Russia had some chance of success – but since it doesn’t, now many in the EU are perplexed over how to get out of the impasse.

A scenario is likely, in which the United States, seeing that Western Europe will no longer come to its senses after a lethargic sleep and "holidays" from strategic thinking, will bet on developing its presence in Eastern Europe, strengthening Polish plans to create the Intermarium project – to create an antagonist to Russia in the space between the Baltic and Black Seas. This will form a very special strategic situation in Europe, writes Valdai Club programme director Andrey Sushentsov.

https://valdaiclub.com/a/highlights/children-s-crusade-europe-s-strategy

#ModernDiplomacy #EU #Europe

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📆 ANNOUNCEMENT: On April 13 at 12:00 a.m. Moscow time, Valdai Club will host an expert discussion, titled “The Global Chip Race: What Will Be the Outcome for Russia, the US and China?”, timed to coincide with the release of the new Valdai Paper “US CHIPS and Science Act and Its Impact on Russia’s High-Tech Sector”.

The saying “chips are the new oil” aptly describes the role of semiconductors in modern economic development. Semiconductors in the form of microchips can be found in almost every electronic device - from our smartphones to missile attack warning system radars. Chips are the world's fourth most traded commodity after crude oil, petroleum products and automobiles. Today, the prospects for a state’s technological leadership largely depend on its position in the semiconductor market.

The US CHIPS and Science Act, which has come into force in the United States, is intended to create a separate “mini-universe” within the circle of American allies, within which investments and technologies will be freely flowing. A high wall will be legally built around it, which will protect the US and its allies from competition from China, and will also prevent the acquisition of chips by Russia and other geopolitical opponents of Washington. Thus, this law not only takes the confrontation between the US and China to a new level, but potentially aims to damage global semiconductor production chains.

❓What consequences for Russia and the world can the technological confrontation between the USA and China lead to?
❓Can China replace Western countries in the future as a supplier of microchips and equipment for their production?
❓What steps should Russia take in order to foster local semiconductor production?

Participants of the expert discussion will answer these and other questions.

🎙 Speakers:

🇷🇺 Stanislav Tkachenko, Valdai Club expert, DSc (Economics), Professor, St Petersburg State University (co-author of the Paper)

🇷🇺 Andrey Terekhov, Head of the Department of System Programming, Faculty of Mathematics and Mechanics, St. Petersburg State University; President of the Lanit-Tercom IT company (co-author of the Paper)

🇷🇺 Ruslan Yunusov, Head of Rosatom’s Project Office for Quantum Technologies and National Quantum Laboratory

🇨🇳 Nelson Wong, Vice President of the Shanghai Center for Strategic and International Studies.

Moderator:

🗣 Ivan Timofeev, Programme Director, Valdai Discussion Club.

Working languages: Russian, English.

https://valdaiclub.com/events/announcements/valdai-club-to-discuss-the-global-chip-race-and-its-outcome-for-russia-the-us-and-china/

ℹ️ Information for the media: IInformation for the media: In order to get accredited for the event, please fill out the form on our web site. If you have any questions about the event, please call +79269307763

A link to the live broadcast of the discussion will be posted on all online platforms of the Valdai Club: on the Twitter, Telegram and Zen.

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