Russia In Conditions Of Financial Turbulence And Cumulating Chaos

Peter Viktorovich Akinin
2021 unpublished
The paper characterizes global societal processes, including financial turbulence, spread of the coronavirus pandemic, struggle for leadership across the globe. It addresses hot buttons in the socioeconomic development of Russia (GDP index, investments, damage from corruption and lack of management, social problems). The authors present an expert assessment of a modern crisis fallout and the comparison of the threats and opportunities of Russia in countering crises. There are new drivers of the
more » ... new drivers of the economy -the defense industry, agriculture, and IT-industry, bringing billions of dollars in export revenues. A powerful material and technical base has been established, the financial system has been strengthened, and Russian society has been consolidated. Major challenges are as follows. A fierce struggle for leadership is being unfolded across the globe, in which the United States and the G7 are gradually losing their positions, their dollar-centric model of the economy is collapsing, and globalization is going into oblivion. They are being gradually replaced by China and other Asians with a synthetic model of governance and market mechanisms. Meanwhile, Russia continues to use Western models, as evidenced by the export of capital and a high volatility of the national currency. All in all, despite serious deformations in socio-economic development, Russia has every reason to cope with the crisis and make overdue alignment of its economic model.
doi:10.15405/epsbs.2021.05.227 fatcat:vkxi4upxkvcabdtzchp6pl6bme