Foreign economic relations of the Russian Federation
Brexit: progress of negotiations, prospects, economic assessment
The article analyzes the terms of the Brexit deal on the basis of the latest sources: the characteristics of the rights of EU and UK citizens, the provisions on separation, the conditions of the transition period, as well as the status of the border between the Republic of Ireland and Northern
Ireland are given. Special attention is paid to the most obscure aspects of the agreement, its nature, the positions of the parties to the negotiation process. Basing on the retrospective analysis of the negotiation process, the possible course of events for 2020 is described, as well as how Brexit
might aff ect the trade and economic relations of the Russian Federation and the UK.
Foreign economic activity of the Urals’ Arctic zone (the YaNAO case): challenges and prospects
Th e largest challenges faced by Russia’s economy are boosting of non-resource and non-energy exports, improvement of transport and logistic infrastructure, and development of northern territories. Th e article is aimed at identifying the issues and prospects for foreign economic activity
(FEA) of the Arctic region, with the increasing attention to its development and improvement of transport connectivity of Russia and Eurasia in general. FEA analysis is based on the case of the Urals’ Arctic zone – Yamalo-Nenets autonomous okrug (YaNAO), by comparing the indicators for
the Ural federal district and Russia over 2002-2018: foreign trade changes in goods and services, including transport and tourism; foreign direct investment. Besides, prospects for the region’s potential in these FEA areas are given. Results and scientifi c importance highlight the peculiarities
of the Arctic zone’s (YaNAO) foreign economic activity revealing its mono-specialization in natural resources extraction and need for federal projects to deliver on its potential of developing non-resource and non-energy exports (including transport and tourist services, etc.). Practical signifi cance of the results consists in the possibility of their use by analyzing and predicting foreign economic development of the northern and Arctic territories.
Infrastructure development issues in regional trade agreements
Th e article analyzes how infrastructure development issues are included in modern regional trade agreements (RTAs) and how this experience could be applied to the future Russia’s or EAEU RTAs. As the trade negotiations agenda expands, it becomes important to include infrastructure
development issues in RTAs, as the lack of necessary infrastructure may hinder international trade (especially in the case of developing countries). Infrastructure development issues are also included in some RTAs between developed countries (as part of government procurement liberalization). Th e trend to include infrastructure development issues in modern “deep” RTAs is just emerging. In the future, RTAs may become a new tool for promoting and protecting Russian interests in the fi eld of infrastructure development, as it was done in the framework of the on-preferential EAEU-China agreement
Foreign trade and risk management in export companies
The article deals with risk profi les and risk-management in export companies. The main risks faced by export companies in the modern global trade environment infl uenced by inconsistent economic, political, social and technological processes are defi ned. However, there are many controversial issues regarding risk classifi cation, especially the possibility of risk management based on alternative classifi cations. The authors justify the need for active management of all risks in order to improve competitiveness of export companies. An integrated risk management system
will help to categorize problems and threats that should simplify decision-making in export risk management and reduce its costs.
Transnationalization of Chinese business
In order to achieve China’s development goals – to become a global leader and shift to an innovative path of development – it is necessary to reformat its foreign economic relations on the model of developed countries. Th e transition to stimulating domestic demand requires
intensifi cation of the country’s participation in the transnationalization of Chinese business, which should ensure the structural restructuring of the economy and increase the welfare of the population. Th anks to globalization, changing the sectoral structure of the national economy is
possible only through infl uencing the sectoral structures of foreign countries. To this end, the “one belt and one road” initiative is being implemented. Th ere is an increasing interdependence of the Chinese and global economy, so the development plans of the PRC today more than ever depend on the actions of foreign partners, and can only be implemented in the case of an appropriate international military and political situation. Th e article analyzes the specifi c transformation directions of China’s economic model that contributed to the improvement of the industry
structure and the welfare growth of the Chinese population, which, in our opinion, should be taken into account when modernizing the Russian economy and solving urgent social problems.
Effectiveness of changes in territorial proportions in the Russian economy
In modern conditions, addressing the issue of accelerating the economic growth of the Russian Federation through increasing its global competitiveness and labour productivity requires improvement of its spatial development government. Therefore, a comprehensive study of the
existing territorial proportions in the national economy, as well as retrospective analysis of the changes is needed. The territorial changes in the country’s economy over 2000-2017, including the analysis of the changes in territorial proportions of the main components of the economic
potential and in the level of economic activity are analyzed. Th e results of assessing the dynamics of interregional diff erentiation by the main indicators of socio-economic development are presented. A methodological approach to assessing the eff ectiveness of regional policy in Russia
Applying Canadian experience in regional policy strengthening
OECD countries have focused increasingly on the eff ectiveness of regional development and provide a key context within which to assess Russian regional policy. The author’s analysis has shown the particular relevance of Canadian experience that refl ects a large and regionally diverse
economy not dissimilar to Russia, and half a century of regional programming as an important national objective, with the systematic use of evaluation of the policy and institutional framework to improve the program eff ectiveness. The paper summarizes results of the author’s analysis and presents key elements of Canadian experience that are relevant to Russia in the eff ort to improve the management of spatial development and the eff ectiveness of measures to achieve mediumterm national goals.
Global oil market on price redistribution threshold
By the mid-80s, a fundamentally new pricing structure was formed in the global oil market with three exchange centers ICE, NYMEX and DME, where the three main benchmarks Brent, WTI and Dubai / Oman are traded, to which all world grades of oil are tied using a diff erential.
The decline in Brent crude oil production and lower liquidity of this benchmark caused increased competition between existing benchmarks and created the conditions for the appearance of a new benchmark that might change the structure of global oil pricing. The upcoming launch of the
Murban marker grade oil on the new Dubai ICE Futures Abu Dhabi exchange, increased confrontation between the Brent and WTI benchmarks and the growing Russian liquidity marker Urals, are leading the world oil market to a price redistribution and transformation of the entire crude
oil pricing system.
The impact of the new coronavirus outbreak on international trade
Th e authors analyze the appearance and development of the new coronavirus outbreak, its impact on manufacturing, in particular on Chinese production of many components supplied to enterprises in the foreign countries, as well as diffi culties in transporting these components in
international trade. It is noted that the diffi culties in international transportation of any goods, including components for maintaining global supply chains, might be solved by application of relevant transport contracts.
Design thinking in international business: practices and tendencies of its implementation in Russian and French companies
The article is devoted to design-thinking, a modern cross-functional management technology based on creative thinking and a person-oriented approach to solving professional problems and developing innovations in various sectors of the economy. Th e article also emphasizes the importance of design thinking in the modern world, outlines the main stages of its development and analyzes the key aspects of the design-thinking methodology. Th e article presents the results of the international research project evaluating the eff ectiveness of using design thinking in modern
business implemented by the Russian Foreign Trade Academy of the Ministry for Economic Development of the Russian Federation and the French Business School SKEMA.
2 - 2020