🌐 Interoperability across regional and global projects as a built-in, structural mechanism in the new international architecture may in turn redound to greater security and stability in international relations, writes Valdai Club Programme Director Yaroslav Lissovolik.
🔗 Regional Visions of Globalisation
#Valdai_WorldEconomy #Globalisation #BRICS
@valdai_club — The Valdai Discussion Club
🔗 Regional Visions of Globalisation
#Valdai_WorldEconomy #Globalisation #BRICS
@valdai_club — The Valdai Discussion Club
Valdai Club
Regional Visions of Globalisation
As the world economy undergoes major transformations in recent years on the back of the pandemic and increasing geopolitical divisions, the visions of economic development and globalization are changing as well.
🌐➖🇷🇺 Is sustainable globalisation possible without Russia?
A harsh sanctions response to the military conflict in Ukraine has become a reality. In the future, its real consequences will become clear: whether Russia itself will actually be able to withstand the pressure of sanctions, and whether the West and the global economic system will retain the ability to grow and develop a sustainable economy without Russia.
If we talk about the specific challenges of globalisation stemming from the current conflict, then in the short and medium term they are obvious, and they are being talked about a lot now:
⚠️ the global food crisis
⚠️ the lack of energy resources
⚠️ the resulting rise in prices, inflation and living standards
⚠️ the disruption of global supply chains
All this can lead to serious social discontent in various countries of the global West and South. In the longer term, the undermining of confidence in the dollar and the inviolability of the private property of foreigners in Western countries may become a no-less-significant issue.
There have already been many examples in history of Russia setting up large-scale socio-economic experiments domestically. Now we are all witnessing how another such experiment is developing - globalisation without Russia, writes Oleg Barabanov, Programme Director of the Valdai Discussion Club.
📍The article was prepared especially for today's special session of the Valdai Club within the framework of the SPIEF-2022, titled “Self-sufficiency and cooperation: features of the modern political economy”. Watch it live at 3 p.m. Moscow time.
#Norms_and_Values #globalisation #SPIEF
@valdai_club
A harsh sanctions response to the military conflict in Ukraine has become a reality. In the future, its real consequences will become clear: whether Russia itself will actually be able to withstand the pressure of sanctions, and whether the West and the global economic system will retain the ability to grow and develop a sustainable economy without Russia.
If we talk about the specific challenges of globalisation stemming from the current conflict, then in the short and medium term they are obvious, and they are being talked about a lot now:
⚠️ the global food crisis
⚠️ the lack of energy resources
⚠️ the resulting rise in prices, inflation and living standards
⚠️ the disruption of global supply chains
All this can lead to serious social discontent in various countries of the global West and South. In the longer term, the undermining of confidence in the dollar and the inviolability of the private property of foreigners in Western countries may become a no-less-significant issue.
There have already been many examples in history of Russia setting up large-scale socio-economic experiments domestically. Now we are all witnessing how another such experiment is developing - globalisation without Russia, writes Oleg Barabanov, Programme Director of the Valdai Discussion Club.
📍The article was prepared especially for today's special session of the Valdai Club within the framework of the SPIEF-2022, titled “Self-sufficiency and cooperation: features of the modern political economy”. Watch it live at 3 p.m. Moscow time.
#Norms_and_Values #globalisation #SPIEF
@valdai_club
Valdai Club
Globalisation Without Russia
The economic consequences of the events taking place after February 24, in our opinion, can be reduced to one simple formula: is sustainable globalisation possible without Russia? The question really is only whether Russia is such a large country, and its…
🗺 Globalisation Is Set to Continue, but According to New Rules
On Thursday, June 16, a Valdai Club session, titled “Self-sufficiency and Cooperation: Features of Modern Political Economy”, was held as part of the business programme of the St. Petersburg International Economic Forum 2022.
The participants in the session, moderated by Fyodor Lukyanov, Research Director of the Valdai Club, discussed the restructuring of the global economic system, which has demonstrated the need for self-sufficiency and the inevitability of cooperation.
💬 Rasigan Maharajh, Director of the Institute for Economic Research on Innovation at the Tshwane University of Technology (South Africa), raised the topic of global inequality, which was recently highlighted by the coronavirus pandemic. He compared unequal access to vaccines to apartheid, pointing out that the price of a vaccine dose in Africa, the poorest continent, is the highest in the world.
💬 According to Jacques Sapir, director of research at the Paris School of Social Sciences (EHESS), the pandemic has put the final nail in the coffin of globalisation. The very idea of free trade has been called into question. Already today we see that the notion of global trade is actually crumbling under the sanctions. Therefore, self-sufficiency will become a priority for an increasing number of states.
💬 The subject of curtailing globalisation was also touched upon by Vladimir Chizhov, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Russian Federation to the European Union. According to him, the world has recently faced a number of global challenges: “one may call it a ‘perfect storm’, while another uses other epithets, but this is definitely not the ‘end of history’.” Chizhov said that these challenges include the vaccine race that unfolded during the pandemic; the persistent drive of the European Union to abandon the system of long-term contracts for the supply of energy, which resulted in a price hike; food security; as well as the problem of IT giants, which neither the US nor the EU can cope with. The West’s response to this set of problems has been a search for a culprit, which Russia was declared to be, but this does not help solve the problems.
💬 If we are talking about globalisation according to Western rules, then it is really winding down, said Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies (RDCY), Deputy Dean of the Silk Road School, Renmin University of China. The way the US influences global trends winds up pushing non-Western countries towards self-sufficiency. However, while striving for less dependence on the US, they must simultaneously think about cooperation and the advantages of the global market. Future globalisation will be more balanced and inclusive, Wang Wen said.
💬 According to Stanislav Georgievsky, Vice President of the Russian Export Center, the creation of a second and third security loop will be one of the motives for making decisions on trade blocs and joint investments in the face of a possible disconnection of non-Western countries from systems such as SWIFT.
💬 Sanctions are harmful, but inefficient, said Bijan Khajehpour, managing partner of Eurasian Nexus Partners (EUNEPA), an Iranian consulting company. They are inefficient in the sense that they affect society and the economy and cause real damage, but do not achieve their goals. Iran is a vivid example of the fact that it is impossible to change a country with sanctions.
https://valdaiclub.com/events/posts/articles/globalisation-is-set-to-continue-but-according-to-new-rules/
#SPIEF #SPIEF2022 #globalisation #sanctions
@valdai_club
On Thursday, June 16, a Valdai Club session, titled “Self-sufficiency and Cooperation: Features of Modern Political Economy”, was held as part of the business programme of the St. Petersburg International Economic Forum 2022.
The participants in the session, moderated by Fyodor Lukyanov, Research Director of the Valdai Club, discussed the restructuring of the global economic system, which has demonstrated the need for self-sufficiency and the inevitability of cooperation.
💬 Rasigan Maharajh, Director of the Institute for Economic Research on Innovation at the Tshwane University of Technology (South Africa), raised the topic of global inequality, which was recently highlighted by the coronavirus pandemic. He compared unequal access to vaccines to apartheid, pointing out that the price of a vaccine dose in Africa, the poorest continent, is the highest in the world.
💬 According to Jacques Sapir, director of research at the Paris School of Social Sciences (EHESS), the pandemic has put the final nail in the coffin of globalisation. The very idea of free trade has been called into question. Already today we see that the notion of global trade is actually crumbling under the sanctions. Therefore, self-sufficiency will become a priority for an increasing number of states.
💬 The subject of curtailing globalisation was also touched upon by Vladimir Chizhov, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Russian Federation to the European Union. According to him, the world has recently faced a number of global challenges: “one may call it a ‘perfect storm’, while another uses other epithets, but this is definitely not the ‘end of history’.” Chizhov said that these challenges include the vaccine race that unfolded during the pandemic; the persistent drive of the European Union to abandon the system of long-term contracts for the supply of energy, which resulted in a price hike; food security; as well as the problem of IT giants, which neither the US nor the EU can cope with. The West’s response to this set of problems has been a search for a culprit, which Russia was declared to be, but this does not help solve the problems.
💬 If we are talking about globalisation according to Western rules, then it is really winding down, said Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies (RDCY), Deputy Dean of the Silk Road School, Renmin University of China. The way the US influences global trends winds up pushing non-Western countries towards self-sufficiency. However, while striving for less dependence on the US, they must simultaneously think about cooperation and the advantages of the global market. Future globalisation will be more balanced and inclusive, Wang Wen said.
💬 According to Stanislav Georgievsky, Vice President of the Russian Export Center, the creation of a second and third security loop will be one of the motives for making decisions on trade blocs and joint investments in the face of a possible disconnection of non-Western countries from systems such as SWIFT.
💬 Sanctions are harmful, but inefficient, said Bijan Khajehpour, managing partner of Eurasian Nexus Partners (EUNEPA), an Iranian consulting company. They are inefficient in the sense that they affect society and the economy and cause real damage, but do not achieve their goals. Iran is a vivid example of the fact that it is impossible to change a country with sanctions.
https://valdaiclub.com/events/posts/articles/globalisation-is-set-to-continue-but-according-to-new-rules/
#SPIEF #SPIEF2022 #globalisation #sanctions
@valdai_club
Valdai Club
Globalisation Is Set to Continue, but According to New Rules
On Thursday, June 16, a Valdai Club session, titled “Self-sufficiency and Cooperation: Features of Modern Political Economy”, was held as part of the business programme of the St. Petersburg International Economic Forum 2022.
❓🌐 We did not expect that 40 years after the concept of “globalisation” was proposed, the issue of “self-sufficiency” would still be discussed.
This is truly a tragedy of world development and an ideological predicament of political economics.
The risk of the possibility of retrogression in globalisation is mainly due to the coercion of the United States.
In recent years, the United States has used high-tech, dollars, and trade as weapons to block and sanction emerging countries such as Russia and China, forcing more and more developing countries to consider the issue of “self-sufficiency”.
From this perspective, the United States is the biggest troublemaker for globalisation, writes Valdai Club expert Wang Wen.
#Valdai_WorldEconomy #globalisation
@valdai_club
This is truly a tragedy of world development and an ideological predicament of political economics.
The risk of the possibility of retrogression in globalisation is mainly due to the coercion of the United States.
In recent years, the United States has used high-tech, dollars, and trade as weapons to block and sanction emerging countries such as Russia and China, forcing more and more developing countries to consider the issue of “self-sufficiency”.
From this perspective, the United States is the biggest troublemaker for globalisation, writes Valdai Club expert Wang Wen.
#Valdai_WorldEconomy #globalisation
@valdai_club
Valdai Club
New Issues in Political Economy
In recent years, the United States has used high-tech, dollars, and trade as weapons to block and sanction emerging countries such as Russia and China, forcing more and more developing countries to consider the issue of “self-sufficiency”. From this perspective…
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🎥 Is globalisation over?
Globalisation for the Americans meant exporting manufacturing to China and other low-cost places. US sanctions against Russia demonstrated not so much to Moscow, but to Beijing the risks of the US-led financial system, says Christian Whiton, Senior fellow at the Center for the National Interest.
#VALDAI2022 #valdai_podcast #globalisation
@valdai_club
Globalisation for the Americans meant exporting manufacturing to China and other low-cost places. US sanctions against Russia demonstrated not so much to Moscow, but to Beijing the risks of the US-led financial system, says Christian Whiton, Senior fellow at the Center for the National Interest.
#VALDAI2022 #valdai_podcast #globalisation
@valdai_club
🌐 The global nature of economics changed the pattern of international politics. The global political class contains new coordinating, policy making, and ideational bodies.
These groups form a cluster of mutually reinforcing interests, which can be defined as a transnational political class. There are six major components.
1️⃣ The first, the ‘transnational capitalist class’, is composed of the executives and major shareholders in transnational corporations. Other factions of the transnational political class are constituted from elites which are not ‘capitalist’ in an economic sense, though they are part of the apparatuses which constitute global political power.
2️⃣ The second faction is formed by the political elites of state and regional politicians and officials: state Presidents/Prime Ministers, members of the Commission of the European Union.
3️⃣ Thirdly, to coordinate global capitalism has been put in place the administrative/technical faction, made up of elites of ‘globalising executives’ – board-members and policy formulators of the International Monetary Fund, the World Bank, the World Trade Organisation, the European Bank of Reconstruction and Development, and the Bank of International Settlements.
4️⃣ Fourthly, the ideological faction includes the influential members of national and international political think tanks and policy associations, academic bodies (universities and research institutes, particularly in economics), and media managers - editors of publishing houses and ‘quality’ newspapers. Such elites articulate, and respond to, an economic ideology of neoliberal globalisation. They define ‘what we believe’.
5️⃣ The fifth ‘consumerist’ faction is composed of merchants and media which promote and profit from consumerism. The minds of people have been captured not by religion but by the need to pursue the unremitting consumption of commodities and services. This faction is particularly important in spreading the culture-ideology of economic growth and consumerism: it includes companies and associations in the mass circulation print media, television, cinema, radio media companies, showbiz and commercialised sport.
6️⃣ Six, the military-industrial-security complex retains an enforcement role and, through organisations such as the North Atlantic Treaty Organisation (NATO), promotes and defends institutions and economic and political values.
Contemporary world politics are not, as suggested by Samuel Huntington, a ‘clash between civilisations’ but an adversarial conflict between a universal Western liberal civilisation and other civilisations, writes David Lane, Fellow of the Academy of Social Sciences (UK) and Emeritus Fellow of Emmanuel College, Cambridge University.
https://valdaiclub.com/a/highlights/from-national-power-elite-to-global-class/
#Norms_and_Values #globalisation #capitalism #elites #WorldOrder
🗣 🗣 🗣
These groups form a cluster of mutually reinforcing interests, which can be defined as a transnational political class. There are six major components.
1️⃣ The first, the ‘transnational capitalist class’, is composed of the executives and major shareholders in transnational corporations. Other factions of the transnational political class are constituted from elites which are not ‘capitalist’ in an economic sense, though they are part of the apparatuses which constitute global political power.
2️⃣ The second faction is formed by the political elites of state and regional politicians and officials: state Presidents/Prime Ministers, members of the Commission of the European Union.
3️⃣ Thirdly, to coordinate global capitalism has been put in place the administrative/technical faction, made up of elites of ‘globalising executives’ – board-members and policy formulators of the International Monetary Fund, the World Bank, the World Trade Organisation, the European Bank of Reconstruction and Development, and the Bank of International Settlements.
4️⃣ Fourthly, the ideological faction includes the influential members of national and international political think tanks and policy associations, academic bodies (universities and research institutes, particularly in economics), and media managers - editors of publishing houses and ‘quality’ newspapers. Such elites articulate, and respond to, an economic ideology of neoliberal globalisation. They define ‘what we believe’.
5️⃣ The fifth ‘consumerist’ faction is composed of merchants and media which promote and profit from consumerism. The minds of people have been captured not by religion but by the need to pursue the unremitting consumption of commodities and services. This faction is particularly important in spreading the culture-ideology of economic growth and consumerism: it includes companies and associations in the mass circulation print media, television, cinema, radio media companies, showbiz and commercialised sport.
6️⃣ Six, the military-industrial-security complex retains an enforcement role and, through organisations such as the North Atlantic Treaty Organisation (NATO), promotes and defends institutions and economic and political values.
Contemporary world politics are not, as suggested by Samuel Huntington, a ‘clash between civilisations’ but an adversarial conflict between a universal Western liberal civilisation and other civilisations, writes David Lane, Fellow of the Academy of Social Sciences (UK) and Emeritus Fellow of Emmanuel College, Cambridge University.
https://valdaiclub.com/a/highlights/from-national-power-elite-to-global-class/
#Norms_and_Values #globalisation #capitalism #elites #WorldOrder
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Valdai Club
From National ‘Power Elite’ to Global Political Class
C. Wright Mills exposed the political leadership of the USA in the 1950s as a ‘power elite’. The pillars of political power were constituted by the military (the ‘warlords’), capitalists (the ‘corporate rich’ and ‘chief executives’) and the Washington DC…
🧩🌐 In the case of environmental degradation is global warming, whereas in the case of globalization degradation it is global harming.
The world has several poles now, like the USA, China, EU, and BRICS. Regionalism is the ineluctable byproduct of the interaction between the multiple poles of political power in the world. It is also a byproduct of another tendency amongst nations, i. e. to move away from multilateralism towards minilateralism.
Multilateral institutions like the UN and WTO have apparently failed to resolve serious conflicts and differences between the member states. As a result, small groups which share an agenda on geo-politics and economics have started emerging.
The world today and particularly the developing nations need a humane and inclusive mode of globalisation. Erecting tariff barriers and sanctioning competitors in the name of de-risking and decoupling is fuelling unnecessary tensions in an already anarchic world state system and preventing a common approach to combat poverty, hunger, disease and the vagaries of climate change.
All nations need to respect the economic and security sensitivities of others, writes Raashid Wali Janjua, Director Research at the Islamabad Policy Research Institute (IPRI).
https://valdaiclub.com/a/highlights/globalisation-and-regionalisation-approaches/
📌 The article was prepared especially for the Valdai Club’s 14th Asian Conference.
#AsianValdai #Asia_and_Eurasia #globalisation
🗣 🗣 🗣
The world has several poles now, like the USA, China, EU, and BRICS. Regionalism is the ineluctable byproduct of the interaction between the multiple poles of political power in the world. It is also a byproduct of another tendency amongst nations, i. e. to move away from multilateralism towards minilateralism.
Multilateral institutions like the UN and WTO have apparently failed to resolve serious conflicts and differences between the member states. As a result, small groups which share an agenda on geo-politics and economics have started emerging.
The world today and particularly the developing nations need a humane and inclusive mode of globalisation. Erecting tariff barriers and sanctioning competitors in the name of de-risking and decoupling is fuelling unnecessary tensions in an already anarchic world state system and preventing a common approach to combat poverty, hunger, disease and the vagaries of climate change.
All nations need to respect the economic and security sensitivities of others, writes Raashid Wali Janjua, Director Research at the Islamabad Policy Research Institute (IPRI).
https://valdaiclub.com/a/highlights/globalisation-and-regionalisation-approaches/
📌 The article was prepared especially for the Valdai Club’s 14th Asian Conference.
#AsianValdai #Asia_and_Eurasia #globalisation
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🌏 More international cooperation in Asia is on the horizon.
There is always hope that such cooperation may reap the benefits of globalisation and regionalisation in such a way that globalisation helps facilitate conditions conducive to addressing common issues and challenges, especially when the global economy is fragmented, and regionalisation or regional cooperation promotes understandings and activities that would address domestic issues or challenges at the same time, writes Dr. Pornchai Danvivathana, Secretary General, Asia Cooperation Dialogue (ACD).
https://valdaiclub.com/a/highlights/international-cooperation-in-asia/
#WiderEurasia #Asia #globalisation
🗣 🗣 🗣
There is always hope that such cooperation may reap the benefits of globalisation and regionalisation in such a way that globalisation helps facilitate conditions conducive to addressing common issues and challenges, especially when the global economy is fragmented, and regionalisation or regional cooperation promotes understandings and activities that would address domestic issues or challenges at the same time, writes Dr. Pornchai Danvivathana, Secretary General, Asia Cooperation Dialogue (ACD).
https://valdaiclub.com/a/highlights/international-cooperation-in-asia/
#WiderEurasia #Asia #globalisation
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