Medium- and Long-Term Trends in the Development of the World Economy

Andrei Spartak and Tatiana A. Voronova ()

International Trade and Trade Policy, 2020, issue 4

Abstract: The article deals with long-term trends in the world economy and international trade, new challenges for global development, including digitalization and servicification of the economy, trade wars and increasing geopolitical tensions in the world. Also the medium-term prospects of world economic and commodity markets situation are analyzed, as well as specific economic developments in the largest countries and groupings – the USA, EU, China and India. The unprecedented scale of trade and economic confrontation between the United States and China has significantly increased uncertainty in the global market and provoked an explosive growth of trade protectionism, destabilized the foundations of the existing world economic order. Long-term structural shifts in international trade are associated with an increase in the share of services and expanding range of tradable services due to digitization, in the world energy market – with the US becoming one of the largest net exporters of energy and the formation of a highly competitive global gas market due to the explosive growth of LNG exports and the diversification of its suppliers. Almost all future scenarios are dominated by downside risks and strategic uncertainties, which increases the demand for multi-vector policy and diversification in foreign economic activity.

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://mttp.rea.ru/jour/article/viewFile/329/252 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2020:id:329

DOI: 10.21686/2410-7395-2019-4-5-30

Access Statistics for this article

More articles in International Trade and Trade Policy from ФГБОУ ВО "Ð Ð¾Ñ Ñ Ð¸Ð¹Ñ ÐºÐ¸Ð¹ Ñ ÐºÐ¾Ð½Ð¾Ð¼Ð¸Ñ‡ÐµÑ ÐºÐ¸Ð¹ ÑƒÐ½Ð¸Ð²ÐµÑ€Ñ Ð¸Ñ‚ÐµÑ‚ им. Г.Ð’. Плеханова"
Bibliographic data for series maintained by Золотова Екатерина Владимировна ().