RECONFIGURATION OF THE WORLD ECONOMY IN A MIRROR OF DISCUSSION SABOUT THE CHOICE OF EFFECTIVE TRADE AND ECONOMIC POLICY

E. N. Smirnov ()

International Trade and Trade Policy, 2020, issue 1

Abstract: The purpose of this article is the research the key aspects of the unstable development of the world economy at the present stage. The context of international economic relations is changing in view of the escalation of trade conflicts, the slowdown in economic growth and the search for balanced effective trade and economic policies. A number of problems arising from the shocks of economic development are shown, in particular the problem of poverty and increasing inequality in the distribution of income on a global scale: the problem of the high debt of developed countries and the unstable conditions of their public finances; a significant degree of uncertainty over the foreign interests of large corporate capital of the United States in the context of growing technological competition. It was proved that China's role in a number of aspects of the world economy 's reconfiguration will depend on a number of its capabilities to overcome various exogenous shocks, liberalize the national services market, form alternative regional trade agreements, and offset the negative impact of toxic tariffs and currency problems arising from the trade conflict with the United States. In general, there is considerable uncertainty in the world, with further multilateralism, the formation of new poles of economic development and the need to reform the established system of global economic regulation, which will increasingly focus on the protection of investment, intellectual property and the environment, subsidizing and regulating international trade in digital goods and services.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2020:id:348

DOI: 10.21686/2410-7395-2020-1-5-19

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